Aecon Group (TSE:ARE) Price Target Raised to C$49.00

Key Points

• TD Securities raised its price target on Aecon to C$49.00 (from C$47.00) and maintains a "buy" rating, implying roughly a 17.31% upside from the prior close.
• Analyst views are mixed: several firms boosted targets (e.g., National Bank to C$45.00, Raymond James to C$41.00) while Stifel cut its target to C$28.75; the consensus is an average target of C$42.38 with four Buys and six Holds (average rating: Hold).
• Aecon shares traded around C$41.77 (near a 52-week high of C$44.71) with a market cap of ~C$2.68B, but the company reported modest profitability last quarter (EPS C$0.52, net margin 0.28%).

Aecon Group (TSE:ARE - Get Free Report) had its price objective raised by stock analysts at TD Securities from C$47.00 to C$49.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The firm currently has a "buy" rating on the stock. TD Securities' price target indicates a potential upside of 17.31% from the company's previous close.

Several other analysts also recently issued reports on the company. Raymond James Financial boosted their price target on Aecon Group from C$33.00 to C$41.00 and gave the company a "market perform" rating in a research note on Tuesday, March 10th. Royal Bank Of Canada lifted their target price on Aecon Group from C$30.00 to C$41.00 and gave the stock a "sector perform" rating in a report on Tuesday, March 10th. National Bank Financial boosted their target price on shares of Aecon Group from C$35.00 to C$45.00 and gave the company an "outperform" rating in a research report on Monday, March 9th. Desjardins upped their price target on shares of Aecon Group from C$43.00 to C$45.00 and gave the company a "hold" rating in a research note on Monday. Finally, Stifel Nicolaus dropped their price objective on shares of 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. Four analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Aecon Group currently has an average rating of "Hold" and an average target price of C$42.38.

Aecon Group Stock Performance

Shares of ARE stock traded down C$0.02 during midday trading on Monday, hitting C$41.77. 278,558 shares of the company were exchanged, compared to its average volume of 494,785. Aecon Group has a 52 week low of C$15.21 and a 52 week high of C$44.71. The firm has a market capitalization of C$2.68 billion, a P/E ratio of 181.61, a PEG ratio of 18.18 and a beta of 1.10. The firm's 50 day moving average price is C$38.07 and its two-hundred day moving average price is C$31.49. 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 issued its quarterly earnings data on Thursday, March 5th. The company reported C$0.52 earnings per share (EPS) for the quarter. Aecon Group had a net margin of 0.28% and a return on equity of 1.66%. The firm had revenue of C$1.54 billion during the quarter. As a group, equities research analysts anticipate that Aecon Group will post 1.3793321 earnings per share for the current year.

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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