Aecon Group (TSE:ARE) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Aecon Group Inc. (TSE:ARE) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$27.48 and traded as high as C$36.19. Aecon Group shares last traded at C$36.03, with a volume of 207,223 shares.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ARE. BMO Capital Markets increased their price target on shares of Aecon Group from C$25.00 to C$30.00 in a research report on Friday, October 31st. Canaccord Genuity Group increased their target price on shares of Aecon Group from C$29.00 to C$40.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Royal Bank Of Canada boosted their price target on shares of Aecon Group from C$26.00 to C$30.00 and gave the company a “sector perform” rating in a report on Monday, November 3rd. Raymond James Financial downgraded shares of Aecon Group from a “moderate buy” rating to a “hold” rating and upped their price target for the stock from C$26.00 to C$33.00 in a research note on Friday, October 31st. Finally, TD Securities increased their price objective on Aecon Group from C$34.00 to C$39.00 and gave the stock a “buy” rating in a report on Sunday, November 2nd. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Aecon Group presently has a consensus rating of “Hold” and a consensus price target of C$33.43.

Aecon Group Stock Up 3.0%

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 business’s fifty day moving average price is C$33.37 and its two-hundred day moving average price is C$27.61. The firm has a market cap of C$2.35 billion, a P/E ratio of 265.00, a P/E/G ratio of 18.18 and a beta of 1.36.

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.