Aecon Group (TSE:ARE) Stock Price Passes Above 200-Day Moving Average - Should You 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%.

Shares of Aecon Group Inc. (TSE:ARE - Get Free Report) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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 changing hands.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Stifel Nicolaus reduced their price objective on Aecon Group from C$16.00 to C$14.00 in a report on Friday, April 25th. 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 report on Tuesday, August 5th. Royal Bank Of Canada lowered their target price on shares of Aecon Group from C$18.00 to C$17.00 in a research note on Friday, April 25th. Desjardins lowered their price target on Aecon Group from C$24.00 to C$22.00 and set a "buy" rating on the stock in a research report on Tuesday, August 5th. Finally, National Bank Financial upgraded Aecon Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 1st. 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, Aecon Group has an average rating of "Buy" and an average target price of C$22.70.

Aecon Group Stock Up 0.0%

The company has a debt-to-equity ratio of 32.84, a current ratio of 1.19 and a quick ratio of 1.27. The company has a market capitalization of C$1.31 billion, a P/E ratio of -20.42, a PEG ratio of 18.18 and a beta of 1.13. The company has a 50 day moving average of C$19.88 and a 200-day moving average of C$19.59.

Aecon Group Announces Dividend

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

Insider Buying and Selling at Aecon Group

In related news, Director Scott William Thon purchased 10,500 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were purchased at an average cost of C$19.21 per share, with a total value of C$201,705.00. Also, Director Deborah Susan Stein purchased 5,000 shares of the company's stock in a transaction dated Wednesday, June 4th. The stock was bought at an average cost of C$18.90 per share, for a total transaction of C$94,500.00. In the last three months, insiders have bought 21,825 shares of company stock valued at $419,159. 0.82% of the stock is currently owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.