Aecon Group (TSE:ARE) Stock Price Expected to Rise, Raymond James Financial Analyst Says

Key Points

• Raymond James raised its price target on Aecon from C$44 to C$54 (about an 8.1% upside), and several other brokers also lifted targets; the MarketBeat consensus is a Hold with a C$49.46 average price target (4 Buy, 7 Hold).
• Aecon shares jumped about 3.9% to C$49.97 on heavy volume, with a market cap of C$3.42B, a 50-day/200-day moving average of C$42.34/C$34.79, and a very high P/E of 217.26.
• The company reported a quarterly loss of C($0.21) EPS on C$1.26B revenue, and a director sold 125,000 shares at C$41.64 (a 40.4% reduction in their holding), while insiders collectively own 0.82% of the stock.

Aecon Group (TSE:ARE - Get Free Report) had its price objective upped by research analysts at Raymond James Financial from C$44.00 to C$54.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. Raymond James Financial's target price indicates a potential upside of 8.06% from the company's previous close.

Several other brokerages also recently commented on ARE. Jefferies Financial Group raised their price objective on Aecon Group from C$49.00 to C$59.00 in a research note on Monday. Canaccord Genuity Group upped their price objective on Aecon Group from C$40.00 to C$52.00 and gave the stock a "buy" rating in a research report on Monday, March 9th. Stifel Nicolaus increased their price objective on Aecon Group from C$44.00 to C$44.50 and gave the stock a "hold" rating in a report on Friday, April 17th. Desjardins lifted their target price on Aecon Group from C$43.00 to C$45.00 and gave the company a "hold" rating in a research report on Monday, March 30th. Finally, National Bank Financial upped their price target on Aecon Group from C$45.00 to C$48.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 8th. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of C$49.46.

Aecon Group Trading Up 3.9%

TSE ARE traded up C$1.87 during trading hours on Wednesday, hitting C$49.97. The company's stock had a trading volume of 1,029,435 shares, compared to its average volume of 481,603. The stock has a fifty day moving average of C$42.34 and a 200 day moving average of C$34.79. The firm has a market capitalization of C$3.42 billion, a P/E ratio of 217.26, a PEG ratio of 18.18 and a beta of 0.97. Aecon Group has a twelve month low of C$15.68 and a twelve month high of C$52.90. The company has a quick ratio of 1.27, a current ratio of 1.10 and a debt-to-equity ratio of 65.17.

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

Insider Buying and Selling

In other news, Director Eric Stuart Rosenfeld sold 125,000 shares of Aecon Group stock in a transaction dated 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 completion of the transaction, the director owned 184,200 shares of the company's stock, valued at C$7,670,088. This trade represents a 40.43% decrease in their position. 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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