Aecon Group (TSE:ARE) Reaches New 52-Week High – What’s Next?

Aecon Group Inc. (TSE:ARE)’s share price reached a new 52-week high on Friday. The stock traded as high as C$58.60 and last traded at C$58.41, with a volume of 24516 shares changing hands. The stock had previously closed at C$56.82.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ARE shares. Desjardins increased their target price on Aecon Group from C$55.00 to C$61.00 and gave the stock a “hold” rating in a research report on Monday, July 6th. Stifel Nicolaus upgraded Aecon Group from a “hold” rating to a “buy” rating and lifted their price target for the company from C$46.00 to C$54.00 in a research report on Friday, June 26th. Canaccord Genuity Group lifted their price target on Aecon Group from C$56.00 to C$57.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Raymond James Financial raised Aecon Group from a “hold” rating to a “moderate buy” rating and upped their price target for the stock from C$52.00 to C$60.00 in a research note on Friday, July 3rd. Finally, National Bank Financial increased their price objective on Aecon Group from C$59.00 to C$65.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Aecon Group currently has a consensus rating of “Moderate Buy” and a consensus target price of C$55.08.

Aecon Group Trading Up 2.1%

The firm has a market cap of C$3.97 billion, a PE ratio of -61.05, a PEG ratio of 18.18 and a beta of 1.39. The company has a quick ratio of 1.27, a current ratio of 1.08 and a debt-to-equity ratio of 84.23. The stock’s fifty day simple moving average is C$46.98 and its two-hundred day simple moving average is C$46.77.

Aecon Group (TSE:ARE) last announced its earnings results on Thursday, July 30th. The company reported C$0.33 earnings per share for the quarter. Aecon Group had a negative net margin of 1.10% and a negative return on equity of 6.76%. The business had revenue of C$1.63 billion during the quarter. On average, sell-side analysts forecast that Aecon Group Inc. will post 1.3793321 EPS for the current fiscal year.

Aecon Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, October 2nd will be paid a $0.1925 dividend. The ex-dividend date is Tuesday, September 22nd. This represents a $0.77 annualized dividend and a dividend yield of 1.3%. Aecon Group’s dividend payout ratio is presently -80.53%.

Insider Buying and Selling

In related news, Director Scott Stewart acquired 4,455 shares of the stock in a transaction on Friday, August 28th. The stock was acquired at an average price of C$44.89 per share, for a total transaction of C$199,984.95. Following the completion of the purchase, 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. Also, insider Steven Neil Nackan sold 4,500 shares of the business’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of C$45.55, for a total value of C$204,975.00. Following the completion of the sale, the insider directly owned 8,035 shares in the company, valued at C$365,994.25. This trade represents a 35.90% decrease in their ownership of the stock. In the last ninety days, insiders have sold 7,500 shares of company stock valued at $343,875. 0.82% of the stock is owned by corporate insiders.

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.