TD Securities Upgrades Aecon Group (TSE:ARE) to “Buy”

Aecon Group (TSE:ARE) was upgraded by equities research analysts at TD Securities from a “hold” rating to a “buy” rating in a research note issued on Monday, BayStreet.CA reports. The firm currently has a C$35.00 price target on the stock, up from their previous price target of C$23.00. TD Securities’ price target suggests a potential upside of 22.38% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. Canaccord Genuity Group upped their price objective on shares of Aecon Group from C$25.00 to C$28.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. National Bankshares raised shares of Aecon Group from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from C$17.00 to C$20.50 in a research note on Monday, July 29th. ATB Capital raised their price objective on shares of Aecon Group from C$21.00 to C$29.00 and gave the company an “outperform” rating in a research note on Monday, September 16th. BMO Capital Markets cut their target price on Aecon Group from C$17.50 to C$16.50 in a research report on Wednesday, July 24th. Finally, Raymond James increased their price target on 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. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$25.94.

Aecon Group Stock Up 0.0 %

Shares of Aecon Group stock opened at C$28.60 on Monday. Aecon Group has a 1-year low of C$10.30 and a 1-year high of C$28.79. The company has a market capitalization of C$1.79 billion, a P/E ratio of -105.93, a PEG ratio of 18.18 and a beta of 1.13. The business’s fifty day moving average price is C$21.05 and its two-hundred day moving average price is C$18.03. The company has a debt-to-equity ratio of 32.86, a current ratio of 1.35 and a quick ratio of 1.27.

Insider Buying and Selling

In related news, Senior Officer Timothy John Murphy acquired 4,244 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were purchased at an average price of C$17.66 per share, for a total transaction of C$74,969.84. 0.82% of the stock is currently owned by corporate insiders.

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.