Stifel Nicolaus Forecasts Strong Price Appreciation for Aecon Group (TSE:ARE) Stock

Key Points

• Stifel Nicolaus raised Aecon Group’s price target to C$75 from C$66 and maintained a “buy” rating, implying 44.23% upside from the stock’s current price.
• Aecon shares rose 5.6% to C$52, while analyst sentiment remained positive overall: seven analysts rate the stock a buy and five rate it a hold, producing a “Moderate Buy” consensus and a C$60 average target.
• The company reported quarterly EPS of C$0.86 on C$1.92 billion in revenue, though it posted a negative net margin and return on equity. Insider activity was mixed, with a director buying nearly C$200,000 of shares while another insider sold approximately C$205,000.

Aecon Group (TSE:ARE - Get Free Report) had its target price upped by research analysts at Stifel Nicolaus from C$66.00 to C$75.00 in a research note issued on Monday, BayStreet reports. The firm presently has a "buy" rating on the stock. Stifel Nicolaus's price target points to a potential upside of 44.23% from the stock's current price.

ARE has been the topic of a number of other research reports. Desjardins lifted their target price on Aecon Group from C$58.00 to C$60.00 and gave the company a "hold" rating in a research report on Monday. National Bank Financial increased their price target on Aecon Group from C$66.00 to C$70.00 and gave the stock an "outperform" rating in a report on Monday. Finally, Raymond James Financial raised their price objective on Aecon Group from C$60.00 to C$65.00 and gave the stock an "outperform" rating in a research report on Friday. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of C$60.00.

Aecon Group Trading Up 5.6%

Shares of ARE stock traded up C$2.77 during trading on Monday, hitting C$52.00. 450,212 shares of the stock traded hands, compared to its average volume of 468,965. The firm has a market capitalization of C$3.57 billion, a P/E ratio of -67.53, a price-to-earnings-growth ratio of 18.18 and a beta of 1.16. The company has a debt-to-equity ratio of 56.97, a current ratio of 1.10 and a quick ratio of 1.27. The firm's fifty day moving average price is C$49.31 and its 200-day moving average price is C$45.25. Aecon Group has a 52-week low of C$25.05 and a 52-week high of C$59.96.

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

Insiders Place Their Bets

In other news, Director Scott Stewart acquired 4,455 shares of the business's stock in a transaction that occurred on Friday, August 28th. The shares were 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 owned 24,484 shares of the company's stock, valued at C$1,099,086.76. This represents a 22.24% increase in their ownership of the stock. Also, insider Steven Neil Nackan sold 4,500 shares of the stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of C$45.55, for a total value of C$204,975.00. Following the transaction, the insider directly owned 8,035 shares in the company, valued at approximately C$365,994.25. The trade was a 35.90% decrease in their position. Insiders sold 7,500 shares of company stock valued at $343,875 over the last ninety days. Insiders own 0.82% of the company's stock.

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.

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.