ATB Capital Cuts Aecon Group (TSE:ARE) Price Target to C$28.00

Key Points

• ATB Capital has lowered its price target for Aecon Group (TSE:ARE) from C$30.00 to C$28.00, indicating a potential upside of 45.83% from the stock's previous close.
• Research ratings for Aecon Group are mixed, with one analyst issuing a "strong buy," eight giving a "buy," and one assigning a "hold" rating.
• Aecon Group's stock traded down 0.7% to C$19.20, with insider activity reflecting confidence as directors bought shares recently.

Aecon Group (TSE:ARE - Free Report) had its price objective lowered by ATB Capital from C$30.00 to C$28.00 in a report issued on Tuesday morning,BayStreet.CA reports. ATB Capital currently has an outperform rating on the stock.

A number of other analysts have also recently issued reports on ARE. Royal Bank Of Canada decreased their target price on Aecon Group from C$18.00 to C$17.00 in a report on Friday, April 25th. BMO Capital Markets raised their target price on shares of Aecon Group from C$19.00 to C$22.00 in a research note on Tuesday, July 22nd. Stifel Canada raised shares of Aecon Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 17th. TD Securities upped their target price on Aecon Group from C$22.00 to C$23.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, CIBC reduced their price target on Aecon Group from C$31.00 to C$24.00 in a research report on Friday, April 25th. Eight research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of C$22.70.

Aecon Group Price Performance

Aecon Group stock traded up C$0.11 during mid-day trading on Tuesday, hitting C$19.95. 187,493 shares of the company were exchanged, compared to its average volume of 416,196. 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$1.26 billion, a P/E ratio of -19.63, a PEG ratio of 18.18 and a beta of 1.13. The business's 50 day simple moving average is C$19.72 and its two-hundred day simple moving average is C$19.76. Aecon Group has a 12-month low of C$15.21 and a 12-month high of C$29.70.

Aecon Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Thursday, July 3rd were paid a $0.19 dividend. The ex-dividend date was Monday, June 23rd. This represents a $0.76 annualized dividend and a dividend yield of 3.8%. Aecon Group's dividend payout ratio (DPR) is presently -74.76%.

Insider Activity

In other Aecon Group news, Director Scott William Thon acquired 10,500 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was acquired 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 firm's stock in a transaction dated Wednesday, June 4th. The stock was acquired at an average cost of C$18.90 per share, with a total value of C$94,500.00. Over the last 90 days, insiders have acquired 21,825 shares of company stock valued at $419,159. Insiders own 0.82% of the company's stock.

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.