Aecon Group (TSE:ARE) Shares Cross Above 200-Day Moving Average - Here's Why

Key Points

• Aecon Group Inc. shares have recently surpassed their two hundred day moving average of C$19.40, trading as high as C$20.56 and currently priced at C$20.35.
• Analysts show mixed sentiments with Stifel Nicolaus lowering their target to C$14.00 while TD Securities raised theirs to C$23.00, giving the stock an average rating of "Buy" and an average target price of C$22.70.
• The company announced a quarterly dividend of $0.19 per share, resulting in an annualized yield of 3.7% with a payout ratio of -74.76%.

Aecon Group Inc. (TSE:ARE - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$19.40 and traded as high as C$20.56. Aecon Group shares last traded at C$20.35, with a volume of 281,359 shares traded.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ARE. TD Securities upped their price target on shares of Aecon Group from C$22.00 to C$23.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. National Bank Financial raised shares of Aecon Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 1st. Desjardins lowered their price target on shares of Aecon Group from C$24.00 to C$22.00 and set a "buy" rating on the stock in a research note on Tuesday, August 5th. BMO Capital Markets upped their price target on shares of Aecon Group from C$19.00 to C$22.00 in a research note on Tuesday, July 22nd. Finally, ATB Capital lowered their price target on shares of Aecon Group from C$30.00 to C$28.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of C$22.70.

Aecon Group Price Performance

The company has a debt-to-equity ratio of 32.84, a quick ratio of 1.27 and a current ratio of 1.19. The firm's 50-day moving average is C$20.07 and its 200 day moving average is C$19.30. The firm has a market capitalization of C$1.29 billion, a PE ratio of -20.10, a price-to-earnings-growth ratio of 18.18 and a beta of 1.13.

Aecon Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Thursday, July 3rd were given a $0.19 dividend. The ex-dividend date was Monday, June 23rd. This represents a $0.76 annualized dividend and a dividend yield of 3.7%. Aecon Group's payout ratio is currently -74.76%.

Insider Buying and Selling

In other Aecon Group news, Director Leslie Compton Kass acquired 6,325 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The shares were acquired at an average cost of C$19.44 per share, for a total transaction of C$122,953.83. Also, Director Deborah Susan Stein acquired 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The stock was acquired at an average price of C$18.90 per share, for a total transaction of C$94,500.00. Insiders have acquired 21,825 shares of company stock worth $419,159 in the last three months. Corporate insiders own 0.82% of the company's stock.

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.