Aecon Group (TSE:ARE) Reaches New 12-Month High – Here’s Why

Shares of Aecon Group Inc. (TSE:ARE) reached a new 52-week high during trading on Wednesday . The company traded as high as C$35.50 and last traded at C$34.67, with a volume of 127642 shares trading hands. The stock had previously closed at C$34.80.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ARE shares. CIBC cut Aecon Group from an “outperform” rating to a “neutral” rating and boosted their target price for the stock from C$29.00 to C$35.00 in a report on Friday, October 31st. Canaccord Genuity Group boosted their price objective on Aecon Group from C$29.00 to C$40.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Stifel Nicolaus upped their target price on Aecon Group from C$24.00 to C$30.00 in a report on Friday, October 31st. ATB Capital lowered Aecon Group from an “outperform” rating to a “sector perform” rating and lifted their price target for the stock from C$28.00 to C$32.00 in a report on Friday, October 31st. Finally, Raymond James Financial cut shares of Aecon Group from a “moderate buy” rating to a “hold” rating and boosted their price target for the company from C$26.00 to C$33.00 in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of C$33.00.

Aecon Group Trading Up 1.0%

The firm has a market cap of C$2.22 billion, a price-to-earnings ratio of 251.07, a price-to-earnings-growth ratio of 18.18 and a beta of 1.51. The company has a debt-to-equity ratio of 32.84, a quick ratio of 1.27 and a current ratio of 1.19. The company has a 50 day moving average price of C$30.87 and a 200 day moving average price of C$25.86.

Aecon Group (TSE:ARE) last issued its quarterly earnings data on Wednesday, October 29th. The company reported C$0.53 earnings per share (EPS) for the quarter. Aecon Group had a negative net margin of 1.56% and a negative return on equity of 6.40%. The firm had revenue of C$1.53 billion for the quarter. On average, research analysts expect that Aecon Group Inc. will post 1.3793321 earnings per share for the current year.

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.