Canadian Imperial Bank of Commerce Issues Positive Forecast for Aecon Group (TSE:ARE) Stock Price

Key Points

• Canadian Imperial Bank of Commerce raised its price target for Aecon from C$45.00 to C$48.00, implying about 5.36% upside, while the analyst consensus remains a "Hold" with a consensus target of C$44.58.
• Aecon shares traded up roughly 4.7% to C$45.56, sitting near their 52‑week high of C$45.89; the company has a market cap of C$3.12 billion and a high P/E of 198.09, highlighting elevated valuation despite recent strength.
• Director Eric Stuart Rosenfeld sold 125,000 shares for about C$5.2 million, reducing his holding by 40.43%; insiders now own just 0.82% of the stock.

Aecon Group (TSE:ARE - Get Free Report) had its target price hoisted by analysts at Canadian Imperial Bank of Commerce from C$45.00 to C$48.00 in a research report issued on Thursday,BayStreet.CA reports. Canadian Imperial Bank of Commerce's price objective indicates a potential upside of 5.36% from the company's previous close.

Other analysts have also issued reports about the stock. Stifel Nicolaus reduced their price objective on shares of Aecon Group from C$34.25 to C$28.75 and set a "hold" rating for the company in a research note on Monday, March 9th. Raymond James Financial increased their price target on shares of Aecon Group from C$41.00 to C$44.00 and gave the stock a "market perform" rating in a research report on Tuesday, March 31st. ATB Cormark Capital Markets boosted their price objective on shares of Aecon Group from C$39.00 to C$42.00 and gave the company a "sector perform" rating in a research report on Monday, March 30th. National Bank Financial upped their price objective on shares of Aecon Group from C$45.00 to C$48.00 and gave the company an "outperform" rating in a research note on Wednesday. Finally, BMO Capital Markets upped their price objective on shares of Aecon Group from C$40.00 to C$45.00 and gave the company an "outperform" rating in a research note on Monday, March 30th. Four equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of C$44.58.

Aecon Group Trading Up 4.7%

ARE stock traded up C$2.04 during mid-day trading on Thursday, reaching C$45.56. 553,924 shares of the stock traded hands, compared to its average volume of 489,935. The company has a current ratio of 1.10, a quick ratio of 1.27 and a debt-to-equity ratio of 65.17. Aecon Group has a 52-week low of C$15.21 and a 52-week high of C$45.89. The company has a market cap of C$3.12 billion, a P/E ratio of 198.09, a P/E/G ratio of 18.18 and a beta of 0.97. The stock's fifty day moving average is C$39.36 and its 200-day moving average is C$32.48.

Aecon Group (TSE:ARE - Get Free Report) last posted its quarterly earnings data on Thursday, March 5th. The company reported C$0.52 EPS for the quarter. Aecon Group had a net margin of 0.28% and a return on equity of 1.66%. The company had revenue of C$1.54 billion during the quarter. As a group, sell-side analysts expect that Aecon Group will post 1.3793321 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Eric Stuart Rosenfeld sold 125,000 shares of the firm's stock in a transaction that occurred on Friday, March 27th. The shares were sold at an average price of C$41.64, for a total transaction of C$5,205,000.00. Following the transaction, the director owned 184,200 shares of the company's stock, valued at approximately C$7,670,088. This trade represents a 40.43% decrease in their ownership of the stock. Insiders own 0.82% of the company's stock.

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. Aecon generates the majority of its revenue from the Construction 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.