Aecon Group (TSE:ARE) Stock Price Expected to Rise, TD Securities Analyst Says

Aecon Group (TSE:ARE) had its price target raised by equities researchers at TD Securities from C$47.00 to C$49.00 in a report released on Monday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD Securities’ target price would suggest a potential upside of 17.31% from the stock’s previous close.

Several other brokerages also recently weighed in on ARE. Royal Bank Of Canada upped their price objective on Aecon Group from C$30.00 to C$41.00 and gave the stock a “sector perform” rating in a research report on Tuesday, March 10th. Raymond James Financial increased their target price on shares of Aecon Group from C$33.00 to C$41.00 and gave the stock a “market perform” rating in a report on Tuesday, March 10th. National Bank Financial raised their price target on shares of Aecon Group from C$35.00 to C$45.00 and gave the company an “outperform” rating in a research note on Monday, March 9th. Canaccord Genuity Group lifted their price target on shares of Aecon Group from C$40.00 to C$52.00 and gave the company a “buy” rating in a report on Monday, March 9th. Finally, Stifel Nicolaus lowered their price objective on shares of Aecon Group from C$34.25 to C$28.75 and set a “hold” rating for the company in a research report on Monday, March 9th. Four investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Aecon Group currently has an average rating of “Hold” and a consensus price target of C$42.38.

Aecon Group Price Performance

Shares of TSE ARE traded down C$0.02 during trading hours on Monday, hitting C$41.77. 278,558 shares of the stock were exchanged, compared to its average volume of 494,785. The company has a debt-to-equity ratio of 65.17, a quick ratio of 1.27 and a current ratio of 1.10. The company has a market cap of C$2.68 billion, a PE ratio of 181.61, a price-to-earnings-growth ratio of 18.18 and a beta of 1.10. The company’s fifty day simple moving average is C$38.07 and its two-hundred day simple moving average is C$31.49. Aecon Group has a 1-year low of C$15.21 and a 1-year high of C$44.71.

Aecon Group (TSE:ARE) last announced its quarterly earnings data on Thursday, March 5th. The company reported C$0.52 EPS for the quarter. Aecon Group had a net margin of 0.28% and a return on equity of 1.66%. The business had revenue of C$1.54 billion during the quarter. On average, sell-side analysts predict that Aecon Group will post 1.3793321 EPS 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.