Aecon Group (TSE:ARE) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Key Points

• Stifel Nicolaus raised its target price on Aecon to C$44.50 (from C$44.00) but kept a "hold" rating, with that target implying roughly a 4.96% downside from the stock's current price.
• Multiple brokers have recently lifted targets (TD Securities to C$49, CIBC to C$48, Desjardins to C$45, Raymond James to C$44, ATB Cormark to C$42), leaving a consensus target of C$46.15 and an analyst mix of four Buys and six Holds.
• Aecon traded at C$46.82 (near its 52‑week high of C$47.12) with a market cap of C$3.21B, and a director, Eric Rosenfeld, sold 125,000 shares for about C$5.2M, reducing his stake by ~40%; insiders now own 0.82% of the company.

Aecon Group (TSE:ARE - Get Free Report) had its target price lifted by equities research analysts at Stifel Nicolaus from C$44.00 to C$44.50 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage currently has a "hold" rating on the stock. Stifel Nicolaus' target price indicates a potential downside of 4.96% from the company's current price.

Other analysts have also recently issued research reports about the company. ATB Cormark Capital Markets upped their price target on Aecon Group from C$39.00 to C$42.00 and gave the stock a "sector perform" rating in a research report on Monday, March 30th. Raymond James Financial upped their price target on Aecon Group from C$41.00 to C$44.00 and gave the stock a "market perform" rating in a research report on Tuesday, March 31st. Desjardins upped their price target on Aecon Group from C$43.00 to C$45.00 and gave the stock a "hold" rating in a research report on Monday, March 30th. TD Securities upped their price target on Aecon Group from C$47.00 to C$49.00 and gave the stock a "buy" rating in a research report on Monday, March 30th. Finally, Canadian Imperial Bank of Commerce upped their price target on Aecon Group from C$45.00 to C$48.00 in a research report on Thursday, April 9th. Four research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of C$46.15.

Aecon Group Stock Performance

ARE stock traded up C$0.49 during midday trading on Friday, reaching C$46.82. 177,938 shares of the company's stock traded hands, compared to its average volume of 477,918. Aecon Group has a 52-week low of C$15.21 and a 52-week high of C$47.12. The stock has a market cap of C$3.21 billion, a P/E ratio of 203.57, a PEG 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 stock's 50-day moving average is C$40.65 and its 200 day moving average is C$33.39.

Aecon Group (TSE:ARE - Get Free Report) last announced its earnings results on Thursday, March 5th. The company reported C$0.52 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$1.54 billion during the quarter. As a group, analysts anticipate that Aecon Group will post 1.3793321 EPS for the current year.

Insider Activity

In related news, Director Eric Stuart Rosenfeld sold 125,000 shares of the stock in a transaction dated Friday, March 27th. The stock was sold at an average price of C$41.64, for a total transaction of C$5,205,000.00. Following the completion of the sale, the director owned 184,200 shares in the company, valued at approximately C$7,670,088. This trade represents a 40.43% decrease in their ownership of the stock. Corporate 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.