Aecon Group (TSE:ARE) Share Price Crosses Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Aecon Group's stock recently surpassed its 200-day moving average, trading at C$20.76 with a volume of 412,672 shares.
• Despite a mixed outlook from analysts, the average target price for Aecon Group shares is C$22.70, with eight analysts rating it a "buy."
• The company announced a quarterly dividend of C$0.19 per share, translating to an annual yield of 3.7%.

Aecon Group Inc. (TSE:ARE - Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$19.59 and traded as high as C$20.87. Aecon Group shares last traded at C$20.76, with a volume of 412,672 shares.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. ATB Capital decreased 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. BMO Capital Markets raised their price target on shares of Aecon Group from C$19.00 to C$22.00 in a research note on Tuesday, July 22nd. Royal Bank Of Canada decreased their price target on shares of Aecon Group from C$18.00 to C$17.00 in a research note on Friday, April 25th. CIBC decreased their price target on shares of Aecon Group from C$31.00 to C$24.00 in a research note on Friday, April 25th. Finally, Desjardins decreased 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. Eight research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of C$22.70.

Aecon Group Trading Up 0.4%

The business's fifty day moving average is C$19.92 and its 200-day moving average is C$19.44. The stock has a market capitalization of C$1.28 billion, a PE ratio of -19.91, a P/E/G ratio of 18.18 and a beta of 1.13. The company has a quick ratio of 1.27, a current ratio of 1.19 and a debt-to-equity ratio of 32.84.

Aecon Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Thursday, July 3rd were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Monday, June 23rd. Aecon Group's payout ratio is presently -74.76%.

Insider Activity at Aecon Group

In related news, Director Scott William Thon bought 10,500 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was purchased at an average cost of C$19.21 per share, for a total transaction of C$201,705.00. Also, Director Leslie Compton Kass bought 6,325 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was bought at an average price of C$19.44 per share, with a total value of C$122,953.83. Over the last three months, insiders purchased 21,825 shares of company stock worth $419,159. 0.82% of the stock is owned by company 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.