Aecon Group (TSE:ARE) Price Target Raised to C$65.00 at National Bank Financial

Key Points

• National Bank Financial raised Aecon Group’s price target from C$59.00 to C$65.00 and reiterated an “outperform” rating, implying about 33% upside from the previous close.
• Other analysts have also turned more positive on the stock, with recent target increases from firms including Stifel Nicolaus, Canaccord Genuity, and Jefferies. Overall, the consensus rating is Moderate Buy with an average price target of C$55.08.
• Aecon shares were trading around C$48.76 Monday, near their 50-day and 200-day moving averages, while the company’s latest quarterly results showed C($0.21) EPS on revenue of C$1.26 billion.

Aecon Group (TSE:ARE - Get Free Report) had its target price boosted by investment analysts at National Bank Financial from C$59.00 to C$65.00 in a report released on Monday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. National Bank Financial's price target points to a potential upside of 33.31% from the stock's previous close.

Other analysts have also issued reports about the company. BMO Capital Markets boosted their price objective on Aecon Group from C$45.00 to C$49.00 and gave the company a "market perform" rating in a report on Wednesday, April 29th. Stifel Nicolaus raised shares of Aecon Group from a "hold" rating to a "buy" rating and boosted their target price for the company from C$46.00 to C$54.00 in a research note on Friday, June 26th. Royal Bank Of Canada lifted their price objective on shares of Aecon Group from C$44.00 to C$49.00 and gave the company a "sector perform" rating in a research note on Thursday, April 30th. Canaccord Genuity Group lifted their target price on Aecon Group from C$56.00 to C$57.00 and gave the stock a "buy" rating in a report on Monday, June 29th. Finally, Jefferies Financial Group boosted their target price on shares of Aecon Group from C$49.00 to C$59.00 in a report on Monday, April 27th. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of C$55.08.

Aecon Group Price Performance

Shares of TSE ARE traded up C$0.14 during trading on Monday, reaching C$48.76. The company had a trading volume of 181,586 shares, compared to its average volume of 478,289. The stock has a market capitalization of C$3.34 billion, a PE ratio of 88.65, a price-to-earnings-growth ratio of 18.18 and a beta of 1.38. Aecon Group has a twelve month low of C$17.06 and a twelve month high of C$57.72. The company has a current ratio of 1.16, a quick ratio of 1.27 and a debt-to-equity ratio of 42.80. The stock has a 50-day moving average price of C$47.21 and a two-hundred day moving average price of C$41.66.

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 (EPS) for the quarter. Aecon Group had a net margin of 0.62% and a return on equity of 3.71%. The company had revenue of C$1.26 billion during the quarter. As a group, sell-side analysts predict that Aecon Group will post 1.3793321 earnings per share for the current year.

Insiders Place Their Bets

In other Aecon Group news, insider Ernest Chan sold 521 shares of the company's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of C$55.09, for a total transaction of C$28,701.89. Following the transaction, the insider directly owned 11,003 shares in the company, valued at approximately C$606,155.27. This represents a 4.52% decrease in their position. Also, insider Timothy John Murphy sold 2,930 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of C$52.31, for a total transaction of C$153,268.30. Following the completion of the sale, the insider owned 4,801 shares in the company, valued at C$251,140.31. This represents a 37.90% decrease in their ownership of the stock. Insiders sold 23,451 shares of company stock worth $1,177,370 over the last three months. 0.82% of the stock is currently owned by corporate insiders.

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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