Aecon Group (TSE:ARE) Share Price Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• Aecon Group shares have exceeded their **200-day moving average**, reaching a high of **C$20.19** during trading, with a current trade at **C$20.04**.
• Analysts have set varying price targets for Aecon Group, with a consensus price target of **C$22.70**, indicating a generally **positive outlook** for the stock.
• The company recently declared a quarterly dividend yielding **3.8%**, but has a **high dividend payout ratio** of **180.95%**, which may raise concerns about sustainability.

Aecon Group Inc. (TSE:ARE - Get Free Report)'s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$19.18 and traded as high as C$20.19. Aecon Group shares last traded at C$20.04, with a volume of 369,071 shares trading hands.

Analyst Upgrades and Downgrades

ARE has been the topic of several research reports. TD Securities upped their price objective on shares of Aecon Group from C$22.00 to C$23.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. ATB Capital reduced their target price on shares of Aecon Group from C$30.00 to C$28.00 and set an "outperform" rating for the company in a research report on Tuesday, August 5th. National Bank Financial raised shares of Aecon Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 1st. Desjardins reduced their target price on shares of Aecon Group from C$24.00 to C$22.00 and set a "buy" rating for the company in a research report on Tuesday, August 5th. Finally, BMO Capital Markets boosted their target price on shares of Aecon Group from C$19.00 to C$22.00 in a research report on Tuesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of C$22.70.

Aecon Group Price Performance

The company's 50-day moving average is C$20.13 and its two-hundred day moving average is C$19.17. The company has a debt-to-equity ratio of 32.84, a current ratio of 1.19 and a quick ratio of 1.27. The firm has a market cap of C$1.35 billion, a P/E ratio of 50.38, a PEG ratio of 18.18 and a beta of 1.49.

Aecon Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Thursday, July 3rd were issued a $0.19 dividend. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.6%. Aecon Group's dividend payout ratio is 180.95%.

Insider Activity at Aecon Group

In related news, Director Leslie Compton Kass bought 6,325 shares of the company's stock in a transaction dated Tuesday, June 10th. The stock was purchased at an average price of C$19.44 per share, with a total value of C$122,953.83. 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.