Aecon Group (TSE:ARE) PT Raised to C$22.00 at CIBC

Aecon Group (TSE:ARE) had its price target upped by CIBC from C$21.00 to C$22.00 in a report issued on Thursday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. CIBC’s target price would suggest a potential upside of 30.80% from the stock’s previous close.

Several other brokerages also recently weighed in on ARE. Royal Bank of Canada lifted their target price on Aecon Group from C$10.00 to C$13.00 and gave the company a “sector perform” rating in a research note on Thursday, March 7th. Canaccord Genuity Group boosted their price objective on Aecon Group from C$14.00 to C$26.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. BMO Capital Markets boosted their price objective on Aecon Group from C$14.50 to C$17.50 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. ATB Capital boosted their price objective on Aecon Group from C$15.25 to C$19.50 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. Finally, Raymond James boosted their target price on Aecon Group from C$14.00 to C$16.00 and gave the stock a “market perform” rating in a research report on Thursday, March 7th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$18.18.

Aecon Group Stock Performance

Aecon Group stock traded up C$0.21 during mid-day trading on Thursday, hitting C$16.82. 116,227 shares of the company’s stock traded hands, compared to its average volume of 326,696. The firm has a 50 day moving average price of C$15.76 and a 200 day moving average price of C$13.31. The company has a quick ratio of 1.27, a current ratio of 1.42 and a debt-to-equity ratio of 39.29. The company has a market cap of C$1.05 billion, a PE ratio of 8.00, a price-to-earnings-growth ratio of 18.18 and a beta of 1.16. Aecon Group has a one year low of C$8.42 and a one year high of C$17.40.

Aecon Group (TSE:ARE) last announced its earnings results on Tuesday, March 5th. The company reported C$0.15 earnings per share for the quarter, missing the consensus estimate of C$0.17 by C($0.02). The business had revenue of C$1.13 billion for the quarter, compared to the consensus estimate of C$1.22 billion. Aecon Group had a net margin of 3.49% and a return on equity of 16.04%. On average, equities analysts forecast that Aecon Group will post 0.7603047 EPS for the current year.

Insider Buying and Selling at Aecon Group

In related news, Senior Officer Adam Robert Borgatti purchased 4,231 shares of Aecon Group stock in a transaction on Tuesday, March 26th. The stock was bought at an average price of C$13.07 per share, with a total value of C$55,299.17. In other Aecon Group news, Senior Officer Martina Doyle sold 2,265 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of C$16.42, for a total value of C$37,191.30. Also, Senior Officer Adam Robert Borgatti purchased 4,231 shares of Aecon Group stock in a transaction on Tuesday, March 26th. The stock was bought at an average cost of C$13.07 per share, with a total value of C$55,299.17. Corporate insiders own 1.72% of the company’s stock.

Aecon Group Company Profile

Aecon Group Inc, together with its subsidiaries, provide construction and infrastructure development services to private and public sector clients in Canada, the United States, and internationally. It operates through two segments, Construction and Concessions. The Construction segment focuses on civil infrastructure, urban transportation solutions, nuclear power infrastructure, utility infrastructure, and conventional industrial infrastructure market sectors.