Aecon Group (TSE:ARE) Price Target Raised to C$49.00 at BMO Capital Markets

Key Points

• BMO Capital Markets raised its price target on Aecon to C$49.00 (from C$45.00) and kept a "market perform" rating; the analyst consensus target is about C$49.46 with 4 Buy and 7 Hold ratings.
• Aecon shares rose 3.9% to C$49.97 on heavy volume, trading near analyst targets; the company has a market cap of C$3.42B and a high P/E of 217.26, signaling rich valuation.
• Insider Director Eric Rosenfeld sold 125,000 shares for roughly C$5.2M (cutting his stake by ~40%), while the company reported a quarterly EPS loss of C($0.21) on C$1.26B in revenue.

Aecon Group (TSE:ARE - Get Free Report) had its price target raised by research analysts at BMO Capital Markets from C$45.00 to C$49.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The firm currently has a "market perform" rating on the stock. BMO Capital Markets' price objective would suggest a potential downside of 1.94% from the stock's current price.

A number of other brokerages have also recently weighed in on ARE. TD Securities upped their price objective on shares of Aecon Group from C$47.00 to C$49.00 and gave the stock a "buy" rating in a report on Monday, March 30th. TD lifted their target price on shares of Aecon Group from C$49.00 to C$59.00 and gave the company a "buy" rating in a report on Tuesday. Desjardins boosted their price target on Aecon Group from C$43.00 to C$45.00 and gave the stock a "hold" rating in a research report on Monday, March 30th. Royal Bank Of Canada upped their price target on Aecon Group from C$41.00 to C$44.00 and gave the stock a "sector perform" rating in a research note on Thursday, April 9th. Finally, Stifel Nicolaus raised their price objective on Aecon Group from C$44.00 to C$44.50 and gave the company a "hold" rating in a research report on Friday, April 17th. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of C$49.46.

Aecon Group Stock Up 3.9%

Aecon Group stock traded up C$1.87 on Wednesday, hitting C$49.97. 1,029,435 shares of the stock traded hands, compared to its average volume of 481,603. Aecon Group has a 1 year low of C$15.68 and a 1 year high of C$52.90. The firm has a market cap of C$3.42 billion, a P/E ratio of 217.26, a price-to-earnings-growth ratio of 18.18 and a beta of 0.97. 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 business's fifty day simple moving average is C$42.34 and its 200 day simple moving average is C$34.79.

Aecon Group (TSE:ARE - Get Free Report) last released its earnings results on Tuesday, April 28th. The company reported C($0.21) earnings per share for the quarter. The business had revenue of C$1.26 billion during the quarter. Aecon Group had a return on equity of 1.66% and a net margin of 0.28%. As a group, sell-side analysts forecast that Aecon Group will post 1.3793321 earnings per share for the current year.

Insider Transactions at Aecon Group

In other news, Director Eric Stuart Rosenfeld sold 125,000 shares of the company's stock in a transaction that occurred on Friday, March 27th. The shares were sold at an average price of C$41.64, for a total value of C$5,205,000.00. Following the transaction, the director owned 184,200 shares in the company, valued at approximately C$7,670,088. This 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.