Aecon Group (TSE:ARE) Price Target Raised to C$34.25

Aecon Group (TSE:ARE) had its target price hoisted by investment analysts at Stifel Nicolaus from C$30.00 to C$34.25 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ price target would suggest a potential downside of 6.93% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Raymond James Financial lowered Aecon Group from a “moderate buy” rating to a “hold” rating and raised their price objective for the stock from C$26.00 to C$33.00 in a research report on Friday, October 31st. Canaccord Genuity Group boosted their target price on Aecon Group from C$29.00 to C$40.00 and gave the company a “buy” rating in a research note on Friday, October 31st. ATB Capital cut shares of Aecon Group from an “outperform” rating to a “sector perform” rating and lifted their target price for the company from C$28.00 to C$32.00 in a research note on Friday, October 31st. Desjardins lowered shares of Aecon Group from a “buy” rating to a “hold” rating and lifted their price target for the company from C$22.00 to C$35.00 in a research report on Friday, October 31st. Finally, CIBC downgraded Aecon Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$33.43.

Aecon Group Price Performance

ARE stock traded up C$2.03 on Friday, hitting C$36.80. 281,103 shares of the company’s stock traded hands, compared to its average volume of 374,819. The stock has a market cap of C$2.33 billion, a price-to-earnings ratio of 262.86, a P/E/G ratio of 18.18 and a beta of 1.36. Aecon Group has a 1-year low of C$15.21 and a 1-year high of C$37.08. The company has a current ratio of 1.19, a quick ratio of 1.27 and a debt-to-equity ratio of 32.84. The stock has a fifty day moving average of C$32.15 and a 200-day moving average of C$26.52.

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