Canaccord Genuity Group Boosts Aecon Group (TSE:ARE) Price Target to C$28.00

Aecon Group (TSE:ARE) had its price target lifted by research analysts at Canaccord Genuity Group from C$25.00 to C$28.00 in a note issued to investors on Monday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 38.34% from the stock’s previous close.

Other analysts also recently issued research reports about the company. National Bank Financial upgraded Aecon Group from a “hold” rating to a “strong-buy” rating in a research report on Sunday, July 28th. Royal Bank of Canada upped their price target on shares of Aecon Group from C$13.00 to C$17.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. TD Securities dropped their price objective on Aecon Group from C$17.00 to C$16.00 and set a “hold” rating on the stock in a research report on Friday, July 26th. ATB Capital raised their price target on Aecon Group from C$21.00 to C$29.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. Finally, Stifel Nicolaus boosted their price objective on Aecon Group from C$25.00 to C$30.00 in a research note on Monday, September 9th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$21.07.

Aecon Group Stock Performance

Aecon Group stock traded up C$0.04 during trading hours on Monday, hitting C$20.24. The company had a trading volume of 105,274 shares, compared to its average volume of 297,184. The company has a debt-to-equity ratio of 32.86, a current ratio of 1.35 and a quick ratio of 1.27. Aecon Group has a one year low of C$8.42 and a one year high of C$20.46. The firm has a 50-day moving average of C$17.28 and a 200 day moving average of C$16.80. The firm has a market cap of C$1.26 billion, a PE ratio of -74.96, a PEG ratio of 18.18 and a beta of 1.12.

Aecon Group (TSE:ARE) last released its earnings results on Wednesday, July 24th. The company reported C($1.99) earnings per share (EPS) for the quarter, beating the consensus estimate of C($2.53) by C$0.54. Aecon Group had a net margin of 0.32% and a return on equity of 1.40%. The business had revenue of C$853.80 million for the quarter, compared to analyst estimates of C$1.01 billion. On average, sell-side analysts expect that Aecon Group will post 1.3797814 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Scott Stewart acquired 10,000 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was purchased at an average price of C$16.54 per share, with a total value of C$165,380.00. In related news, Director Scott Stewart bought 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were purchased at an average cost of C$16.54 per share, with a total value of C$165,380.00. Also, Senior Officer Timothy John Murphy purchased 4,244 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were bought at an average cost of C$17.66 per share, with a total value of C$74,969.84. Insiders purchased 16,549 shares of company stock valued at $274,762 in the last three months. 0.82% of the stock is currently owned by insiders.

About Aecon Group

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.