Aecon Group (TSE:ARE) Price Target Raised to C$44.00

Key Points

• Royal Bank of Canada raised its price target on Aecon to C$44 (from C$41) while the stock carries a consensus "Hold" rating with a consensus target of C$44.58 based on four Buy and six Hold analyst opinions.
• Aecon shares traded up to C$45.56 (up 4.7%), near its 12‑month high of C$45.89, with a market cap of C$3.12 billion and an elevated P/E ratio of ~198, signaling a high valuation despite modest margins.
• Insider selling: Director Eric Stuart Rosenfeld sold 125,000 shares at an average price of C$41.64, reducing his ownership by about 40.4%; insiders now hold 0.82% of the company.

Aecon Group (TSE:ARE - Get Free Report) had its target price increased by Royal Bank Of Canada from C$41.00 to C$44.00 in a report issued on Thursday,BayStreet.CA reports. The firm currently has a "sector perform" rating on the stock. Royal Bank Of Canada's price objective would indicate a potential downside of 3.42% from the company's previous close.

Several other equities research analysts have also recently commented on the company. ATB Cormark Capital Markets raised their target price on Aecon Group from C$39.00 to C$42.00 and gave the stock a "sector perform" rating in a research note on Monday, March 30th. BMO Capital Markets raised their target price on Aecon Group from C$40.00 to C$45.00 and gave the stock an "outperform" rating in a research note on Monday, March 30th. Canadian Imperial Bank of Commerce raised their target price on Aecon Group from C$45.00 to C$48.00 in a research note on Thursday. Stifel Nicolaus decreased their target price on Aecon Group from C$34.25 to C$28.75 and set a "hold" rating for the company in a research note on Monday, March 9th. Finally, Desjardins raised their target price on Aecon Group from C$43.00 to C$45.00 and gave the stock a "hold" rating in a research note on Monday, March 30th. Four analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of C$44.58.

Aecon Group Trading Up 4.7%

Shares of ARE stock traded up C$2.04 on Thursday, hitting C$45.56. The company had a trading volume of 553,924 shares, compared to its average volume of 489,935. The stock's 50-day moving average is C$39.36 and its two-hundred day moving average is C$32.48. Aecon Group has a twelve month low of C$15.21 and a twelve month high of C$45.89. The firm has a market cap of C$3.12 billion, a P/E ratio of 198.09, a P/E/G ratio of 18.18 and a beta of 0.97. The company has a debt-to-equity ratio of 65.17, a quick ratio of 1.27 and a current ratio of 1.10.

Aecon Group (TSE:ARE - Get Free Report) last released its earnings results on Thursday, March 5th. The company reported C$0.52 EPS for the quarter. Aecon Group had a return on equity of 1.66% and a net margin of 0.28%.The business had revenue of C$1.54 billion during the quarter. On average, equities research analysts anticipate that Aecon Group will post 1.3793321 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Aecon Group news, Director Eric Stuart Rosenfeld sold 125,000 shares of the firm's stock in a transaction that occurred on Friday, March 27th. The stock was sold at an average price of C$41.64, for a total value of C$5,205,000.00. Following the completion of the sale, the director owned 184,200 shares of the company's stock, valued at approximately C$7,670,088. This trade represents a 40.43% decrease in their ownership of the stock. Company insiders own 0.82% of the company's stock.

Aecon Group Company Profile

Aecon Group Inc is a Canada-based company that operates in two segments: Construction and Concessions. The Construction segment includes various aspects of the construction of public and private infrastructure projects, mainly in the transportation sector. Its concessions segment is engaged in the development, financing, construction, and operation of infrastructure projects. Aecon generates the majority of its revenue from the Construction segment.

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