Aecon Group (TSE:ARE) Price Target Raised to C$59.00 at Jefferies Financial Group

Key Points

• Jefferies raised its price target on Aecon to C$59.00 (from C$49.00), implying roughly a 21.15% upside from the prior close.
• Several other brokerages have also nudged up targets, but the MarketBeat consensus remains a Hold rating with a collective price target of C$47.32.
• Aecon traded at C$48.70 (up 2.4%), near its 12‑month high, with a market cap of C$3.33B and a high P/E of 211.74; meanwhile Director Eric Rosenfeld sold 125,000 shares (≈C$5.21M), reducing his stake by about 40%.

Aecon Group (TSE:ARE - Get Free Report) had its target price increased by analysts at Jefferies Financial Group from C$49.00 to C$59.00 in a research note issued on Monday,BayStreet.CA reports. Jefferies Financial Group's price objective would indicate a potential upside of 21.15% from the stock's previous close.

Other research analysts have also recently issued reports about the company. ATB Cormark Capital Markets upped their price objective on Aecon Group from C$39.00 to C$42.00 and gave the stock a "sector perform" rating in a research report on Monday, March 30th. TD Securities upped their price objective on Aecon Group from C$47.00 to C$49.00 and gave the stock a "buy" rating in a research report on Monday, March 30th. Canadian Imperial Bank of Commerce upped their price objective on Aecon Group from C$45.00 to C$48.00 in a research report on Thursday, April 9th. Royal Bank Of Canada upped their price objective on Aecon Group from C$41.00 to C$44.00 and gave the stock a "sector perform" rating in a research report on Thursday, April 9th. Finally, Desjardins upped their price objective 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. Four analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of C$47.32.

Aecon Group Stock Up 2.4%

ARE traded up C$1.15 on Monday, hitting C$48.70. 306,861 shares of the company were exchanged, compared to its average volume of 466,451. Aecon Group has a twelve month low of C$15.35 and a twelve month high of C$48.99. The company has a market cap of C$3.33 billion, a price-to-earnings ratio of 211.74, 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 firm has a 50-day moving average price of C$41.85 and a two-hundred day moving average price of C$34.45.

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. The firm had revenue of C$1.54 billion during the quarter. Aecon Group had a return on equity of 1.66% and a net margin of 0.28%. On average, equities analysts predict that Aecon Group will post 1.3793321 earnings per share for the current year.

Insider Buying and Selling at Aecon Group

In other news, Director Eric Stuart Rosenfeld sold 125,000 shares of the business's stock in a transaction dated 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 directly owned 184,200 shares of the company's stock, valued at approximately C$7,670,088. The trade was a 40.43% decrease in their position. 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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