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

Key Points

• TD raised its target on Aecon to C$59 (from C$49) and kept a "buy" rating, implying about a 22.6% upside from the current share price.
• The analyst picture is mixed: five analysts rate Aecon a Buy and six a Hold, giving a consensus rating of "Hold" with a consensus price target of C$48.29, while several firms (Jefferies, National Bank, ATB Cormark, Desjardins, Stifel) have recently lifted targets into the C$42–C$59 range.
• Shares traded at C$48.12 (near a 52‑week high of C$49.34) with a market cap of C$3.29B, but valuation and profitability are stretched (P/E ~209, net margin 0.28%), and an insider sold 125,000 shares, cutting their stake by ~40.4%.

Aecon Group (TSE:ARE - Get Free Report) had its target price increased by equities researchers at TD from C$49.00 to C$59.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the stock. TD's price target would indicate a potential upside of 22.61% from the stock's current price.

ARE has been the subject of a number of other research reports. 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, April 8th. ATB Cormark Capital Markets upped 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 note on Monday, March 30th. Jefferies Financial Group lifted their price target on shares of Aecon Group from C$49.00 to C$59.00 in a report on Monday. Desjardins raised their price objective on Aecon Group from C$43.00 to C$45.00 and gave the stock a "hold" rating in a report on Monday, March 30th. Finally, Stifel Nicolaus raised their price objective on Aecon Group from C$44.00 to C$44.50 and gave the stock a "hold" rating in a report on Friday, April 17th. Five research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of C$48.29.

Aecon Group Price Performance

ARE stock traded down C$1.01 during midday trading on Tuesday, hitting C$48.12. 389,935 shares of the stock were exchanged, compared to its average volume of 473,507. The stock's 50-day moving average price is C$42.12 and its 200-day moving average price is C$34.62. The stock has a market cap of C$3.29 billion, a price-to-earnings ratio of 209.22, a PEG ratio of 18.18 and a beta of 0.97. Aecon Group has a fifty-two week low of C$15.68 and a fifty-two week high of C$49.34. The company has a debt-to-equity ratio of 65.17, a quick ratio of 1.27 and a current ratio of 1.10.

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

Insider Activity at Aecon Group

In other news, Director Eric Stuart Rosenfeld sold 125,000 shares of the firm's stock in a transaction dated Friday, March 27th. The stock was sold at an average price of C$41.64, for a total transaction of C$5,205,000.00. Following the completion of the sale, the director directly owned 184,200 shares in the company, valued at 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.