Desjardins Issues Positive Forecast for Aecon Group (TSE:ARE) Stock Price

Key Points

• Desjardins raised its price target on Aecon to C$52 (from C$45) while keeping a "hold" rating, implying roughly a 4.8% upside; the Street consensus remains a "Hold" with an average target of C$52.29 (four Buy, seven Hold).
• Aecon shares traded at C$49.61 (down C$0.36) with a market cap of C$3.40 billion and a high valuation (P/E 215.70); the company reported a quarterly loss of C($0.21) EPS on C$1.26 billion revenue, while analysts forecast ~1.38 EPS for the year.
• An insider transaction saw Director Eric Rosenfeld sell 125,000 shares at an average price of C$41.64 (a 40.43% reduction in his stake); insiders now own about 0.82% of the stock.

Aecon Group (TSE:ARE - Get Free Report) had its price target upped by research analysts at Desjardins from C$45.00 to C$52.00 in a research note issued on Thursday,BayStreet.CA reports. The firm currently has a "hold" rating on the stock. Desjardins' target price would indicate a potential upside of 4.82% from the company's previous close.

ARE has been the topic of several other research reports. Jefferies Financial Group lifted their target price on shares of Aecon Group from C$49.00 to C$59.00 in a report on Monday. Royal Bank Of Canada boosted their price target on shares of Aecon Group from C$44.00 to C$49.00 and gave the stock a "sector perform" rating in a research note on Thursday. BMO Capital Markets upped their price target on shares of Aecon Group from C$45.00 to C$49.00 and gave the company a "market perform" rating in a report on Wednesday. National Bank Financial lifted their price target 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, April 8th. Finally, Raymond James Financial increased their target price on Aecon Group from C$44.00 to C$54.00 in a research note on Wednesday. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat, Aecon Group currently has a consensus rating of "Hold" and an average target price of C$52.29.

Aecon Group Trading Down 0.7%

Shares of ARE stock traded down C$0.36 on Thursday, reaching C$49.61. 386,888 shares of the stock were exchanged, compared to its average volume of 481,422. The company has a quick ratio of 1.27, a current ratio of 1.10 and a debt-to-equity ratio of 65.17. The firm has a 50 day moving average of C$42.58 and a two-hundred day moving average of C$34.89. The stock has a market cap of C$3.40 billion, a P/E ratio of 215.70, a price-to-earnings-growth ratio of 18.18 and a beta of 0.97. Aecon Group has a 1-year low of C$16.16 and a 1-year high of C$52.90.

Aecon Group (TSE:ARE - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The company reported C($0.21) EPS for the quarter. Aecon Group had a return on equity of 1.66% and a net margin of 0.28%.The company had revenue of C$1.26 billion for the quarter. On average, research analysts anticipate that Aecon Group will post 1.3793321 EPS for the current year.

Insider Activity at Aecon Group

In other Aecon Group news, Director Eric Stuart Rosenfeld sold 125,000 shares of the company's stock in a transaction that occurred on Friday, March 27th. The stock was sold at an average price of C$41.64, for a total value of C$5,205,000.00. Following the completion of the transaction, the director directly owned 184,200 shares in the company, valued at C$7,670,088. This represents a 40.43% decrease in their position. 0.82% of the stock is owned by 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. 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.