Aecon Group (TSE:ARE) Price Target Raised to C$75.00

Key Points

• TD raised Aecon Group’s price target to C$75 from C$66 and maintained a “buy” rating, implying 44.23% upside from the prior close. Stifel Nicolaus also set a C$75 target, while the analyst consensus is “Moderate Buy” with an average target of C$60.
• Aecon shares rose 5.6% to C$52 during Monday trading, near the upper end of their C$25.05–C$59.96 one-year range. The company reported quarterly EPS of C$0.86 and revenue of C$1.92 billion.
• Insider activity was mixed: a company insider sold 4,500 shares, while director Scott Stewart purchased 4,455 shares. Insiders own 0.82% of Aecon Group.

Aecon Group (TSE:ARE - Get Free Report) had its target price increased by TD from C$66.00 to C$75.00 in a research report issued to clients and investors on Monday, BayStreet reports. The brokerage currently has a "buy" rating on the stock. TD's target price would suggest a potential upside of 44.23% from the stock's previous close.

ARE has been the topic of several other reports. Stifel Nicolaus raised their target price on Aecon Group from C$66.00 to C$75.00 and gave the company a "buy" rating in a report on Monday. National Bank Financial boosted their price target on Aecon Group from C$66.00 to C$70.00 and gave the stock an "outperform" rating in a research report on Monday. Raymond James Financial upped their price target on Aecon Group from C$60.00 to C$65.00 and gave the stock an "outperform" rating in a research note on Friday. Finally, Desjardins increased their price objective on Aecon Group from C$58.00 to C$60.00 and gave the company a "hold" rating in a report on Monday. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of C$60.00.

Aecon Group Stock Up 5.6%

TSE ARE traded up C$2.77 during trading on Monday, reaching C$52.00. The company's stock had a trading volume of 450,212 shares, compared to its average volume of 468,965. The company has a current ratio of 1.10, a quick ratio of 1.27 and a debt-to-equity ratio of 56.97. Aecon Group has a 1-year low of C$25.05 and a 1-year high of C$59.96. The business has a 50-day moving average price of C$49.31 and a 200-day moving average price of C$45.25. The stock has a market capitalization of C$3.57 billion, a PE ratio of -67.53, a PEG ratio of 18.18 and a beta of 1.16.

Aecon Group (TSE:ARE - Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The company reported C$0.86 earnings per share (EPS) for the quarter. The firm had revenue of C$1.92 billion during the quarter. Aecon Group had a negative net margin of 0.83% and a negative return on equity of 5.32%. On average, research analysts forecast that Aecon Group will post 1.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Steven Neil Nackan sold 4,500 shares of Aecon Group stock in a transaction on Thursday, August 27th. The shares were sold at an average price of C$45.55, for a total value of C$204,975.00. Following the transaction, the insider owned 8,035 shares in the company, valued at C$365,994.25. This trade represents a 35.90% decrease in their position. Also, Director Scott Stewart bought 4,455 shares of the company's stock in a transaction that occurred on Friday, August 28th. The stock was purchased at an average price of C$44.89 per share, for a total transaction of C$199,984.95. Following the acquisition, the director directly owned 24,484 shares in the company, valued at approximately C$1,099,086.76. This trade represents a 22.24% increase in their ownership of the stock. Insiders sold a total of 7,500 shares of company stock worth $343,875 over the last quarter. 0.82% of the stock is currently owned by company insiders.

Aecon Group Company Profile

Aecon Group Inc TSX: ARE is a North American construction and infrastructure development company with global experience. Aecon delivers integrated solutions to private and public-sector clients through its Construction segment in the Civil, Urban Transportation, Nuclear, Utility and Industrial sectors, and provides project development, financing, investment, management, and operations and maintenance services through its Concessions segment.

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