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

Key Points

• Multiple analysts raised targets on Aecon, including ATB Cormark raising its price target to C$49.00 (maintaining a "sector perform"), while Jefferies and TD boosted targets to C$59.00; the consensus rating remains "Hold" with a consensus price target of C$52.29.
• Aecon shares traded around C$49.61 (down ~0.7%), the company has a market cap of C$3.40 billion and a high trailing P/E of 215.7, while the most recent quarter showed a loss of C($0.21) per share on C$1.26 billion of revenue.
• An insider transaction: Director Eric Rosenfeld sold 125,000 shares at an average price of C$41.64 on March 27, reducing his stake by ~40.4%, and corporate insiders now own about 0.82% of the stock.

Aecon Group (TSE:ARE - Get Free Report) had its price target increased by research analysts at ATB Cormark Capital Markets from C$42.00 to C$49.00 in a note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has a "sector perform" rating on the stock. ATB Cormark Capital Markets' price objective would indicate a potential downside of 1.23% from the company's current price.

Several other analysts have also recently issued reports on the company. Jefferies Financial Group increased their target price on Aecon Group from C$49.00 to C$59.00 in a research report on Monday. TD Securities boosted their price objective on Aecon Group from C$47.00 to C$49.00 and gave the company a "buy" rating in a report on Monday, March 30th. Desjardins boosted their price target on Aecon Group from C$45.00 to C$52.00 and gave the stock a "hold" rating in a research report on Thursday. TD boosted their target price on Aecon Group from C$49.00 to C$59.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, Raymond James Financial upped their target price on Aecon Group from C$44.00 to C$54.00 in a research note on Wednesday. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, Aecon Group presently has a consensus rating of "Hold" and a consensus price target of C$52.29.

Aecon Group Stock Down 0.7%

Aecon Group stock traded down C$0.36 during mid-day trading on Thursday, hitting C$49.61. The company had a trading volume of 386,888 shares, compared to its average volume of 481,422. The company has a current ratio of 1.10, a quick ratio of 1.27 and a debt-to-equity ratio of 65.17. The stock's 50 day moving average price is C$42.58 and its two-hundred day moving average price is C$34.89. Aecon Group has a 12 month low of C$16.16 and a 12 month high of C$52.90. The company has a market capitalization of C$3.40 billion, a PE ratio of 215.70, a price-to-earnings-growth ratio of 18.18 and a beta of 0.97.

Aecon Group (TSE:ARE - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The company reported C($0.21) 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 business had revenue of C$1.26 billion for the quarter. As a group, sell-side analysts anticipate that Aecon Group will post 1.3793321 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Aecon Group news, Director Eric Stuart Rosenfeld sold 125,000 shares of the firm's stock in a transaction 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 sale, the director directly owned 184,200 shares in the company, valued at C$7,670,088. This trade represents a 40.43% decrease in their ownership of the stock. 0.82% of the stock is currently owned by corporate insiders.

About Aecon Group

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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