Aecon Group (TSE:ARE) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Key Points

• Royal Bank of Canada raised its price target on Aecon to C$49 (from C$44) while maintaining a "sector perform" rating, a target that implies about a 1.23% downside from the current share price.
• Analyst consensus remains a "Hold" (4 Buys, 7 Holds) with an average price target of C$52.29, and several brokerages have recently lifted targets into the C$42–C$54 range.
• Aecon reported Q EPS of C($0.21) on C$1.26 billion in revenue; the stock trades around C$49.61 (market cap C$3.4B, P/E 215.7), and a director sold 125,000 shares in late March.

Aecon Group (TSE:ARE - Get Free Report) had its target price upped by research analysts at Royal Bank Of Canada from C$44.00 to C$49.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage presently has a "sector perform" rating on the stock. Royal Bank Of Canada's price target indicates a potential downside of 1.23% from the company's current price.

ARE has been the subject of a number of other research reports. Canaccord Genuity Group increased their price objective on shares of Aecon Group from C$40.00 to C$52.00 and gave the company a "buy" rating in a research note on Monday, March 9th. TD Securities increased their price objective on shares of Aecon Group from C$47.00 to C$49.00 and gave the company a "buy" rating in a research note on Monday, March 30th. ATB Cormark Capital Markets increased their price objective on shares of Aecon Group from C$39.00 to C$42.00 and gave the company a "sector perform" rating in a research note on Monday, March 30th. Desjardins increased their price objective on shares of Aecon Group from C$43.00 to C$45.00 and gave the company a "hold" rating in a research note on Monday, March 30th. Finally, Raymond James Financial increased their price objective on shares of Aecon Group from C$44.00 to C$54.00 in a research note on Wednesday. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of C$52.29.

Aecon Group Stock Performance

TSE:ARE traded down C$0.36 during trading hours on Thursday, hitting C$49.61. 386,888 shares of the company traded hands, compared to its average volume of 481,422. Aecon Group has a twelve month low of C$16.16 and a twelve month high of C$52.90. The stock has a market capitalization of C$3.40 billion, a price-to-earnings ratio of 215.70, a P/E/G 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 of C$42.58 and a 200 day moving average of C$34.89.

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

Insider Buying and Selling at Aecon Group

In other news, Director Eric Stuart Rosenfeld sold 125,000 shares of the company's 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 sale, the director owned 184,200 shares of the company's stock, valued at approximately C$7,670,088. This represents 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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