Aecon Group (TSE:ARE) Price Target Raised to C$75.00

Aecon Group (TSE:ARE) had its target price upped by Stifel Nicolaus from C$66.00 to C$75.00 in a research note issued to investors on Monday,BayStreet reports. The brokerage currently has a buy rating on the stock.

Other analysts have also recently issued research reports about the stock. Raymond James Financial increased their price target on shares of Aecon Group from C$60.00 to C$65.00 and gave the stock an “outperform” rating in a research report on Friday, October 30th. National Bank Financial lifted their price objective on shares of Aecon Group from C$66.00 to C$70.00 and gave the company an “outperform” rating in a report on Monday. Finally, Desjardins upped their target price on shares of Aecon Group from C$58.00 to C$60.00 and gave the stock a “hold” rating in a research note on Monday. Seven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$60.92.

Aecon Group Stock Performance

Shares of Aecon Group stock opened at C$56.31 on Monday. The business has a 50-day moving average of C$50.00 and a 200 day moving average of C$45.59. Aecon Group has a 12 month low of C$25.05 and a 12 month high of C$59.96. The stock has a market capitalization of C$3.86 billion, a price-to-earnings ratio of -73.13, a price-to-earnings-growth ratio of 18.18 and a beta of 0.88. The company has a debt-to-equity ratio of 56.97, a current ratio of 1.10 and a quick ratio of 1.27.

Aecon Group (TSE:ARE) last released its earnings results on Thursday, October 29th. The company reported C$0.86 earnings per share for the quarter. The company had revenue of C$1.92 billion during the quarter. Aecon Group had a negative return on equity of 5.32% and a negative net margin of 0.83%. As a group, sell-side analysts forecast that Aecon Group will post 1.38 earnings per share for the current year.

Aecon Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Friday, October 2nd were given a dividend of $0.1925 per share. The ex-dividend date of this dividend was Tuesday, September 22nd. This represents a $0.77 dividend on an annualized basis and a dividend yield of 1.4%. Aecon Group’s payout ratio is currently -99.68%.

Insider Transactions at Aecon Group

In related news, insider Steven Neil Nackan sold 4,500 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of C$45.55, for a total transaction of C$204,975.00. Following the sale, the insider directly owned 8,035 shares in the company, valued at approximately C$365,994.25. This represents a 35.90% decrease in their ownership of the stock. Also, Director Scott Stewart bought 4,455 shares of Aecon Group stock in a transaction that occurred on Friday, August 28th. The stock was purchased at an average cost of C$44.89 per share, for a total transaction of C$199,984.95. Following the acquisition, the director owned 24,484 shares of the company’s stock, valued at C$1,099,086.76. This represents a 22.24% increase in their ownership of the stock. Over the last three months, insiders have sold 6,500 shares of company stock valued at $296,155. Corporate insiders own 0.82% of the company’s stock.

Aecon Group Company Profile

Aecon Group Inc (TSX: ARE) is a North American construction and infrastructure development company with global experience. Aecon delivers integrated solutions to private and public-sector clients through its Construction segment in the Civil, Urban Transportation, Nuclear, Utility and Industrial sectors, and provides project development, financing, investment, management, and operations and maintenance services through its Concessions segment.