CIBC Increases Aecon Group (TSE:ARE) Price Target to C$29.00

Aecon Group (TSE:AREGet Free Report) had its target price increased by equities research analysts at CIBC from C$25.00 to C$29.00 in a research report issued to clients and investors on Monday, BayStreet.CA reports. CIBC’s price target points to a potential upside of 1.40% from the stock’s current price.

Several other research firms have also commented on ARE. Stifel Canada raised Aecon Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 25th. National Bankshares raised shares of Aecon Group from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from C$17.00 to C$20.50 in a report on Monday, July 29th. BMO Capital Markets lowered their price objective on shares of Aecon Group from C$17.50 to C$16.50 in a research report on Wednesday, July 24th. Raymond James lifted their price objective on shares of Aecon Group from C$16.00 to C$24.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada increased their target price 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. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$25.94.

Check Out Our Latest Report on Aecon Group

Aecon Group Price Performance

Shares of ARE opened at C$28.60 on Monday. 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 1-year low of C$10.30 and a 1-year high of C$28.79. The stock has a market cap of C$1.79 billion, a PE ratio of -105.93, a price-to-earnings-growth ratio of 18.18 and a beta of 1.13. The firm has a fifty day moving average price of C$21.05 and a 200 day moving average price of C$18.03.

Insider Activity at Aecon Group

In other Aecon Group news, Senior Officer Timothy John Murphy acquired 4,244 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was purchased at an average price of C$17.66 per share, for a total transaction of C$74,969.84. Company insiders own 0.82% of the company’s stock.

Aecon Group Company Profile

(Get Free Report)

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.

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