BMO Capital Markets Has Lowered Expectations for Aecon Group (TSE:ARE) Stock Price

Aecon Group (TSE:ARE) had its price objective lowered by analysts at BMO Capital Markets from C$29.00 to C$24.00 in a report issued on Friday,BayStreet.CA reports. BMO Capital Markets’ price objective suggests a potential upside of 33.63% from the company’s previous close.

Several other research firms have also recently commented on ARE. Desjardins lowered their target price on shares of Aecon Group from C$32.00 to C$29.00 and set a “buy” rating for the company in a research note on Friday. National Bank Financial cut shares of Aecon Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. CIBC lowered their target price on shares of Aecon Group from C$33.00 to C$30.00 in a research note on Friday. National Bankshares cut shares of Aecon Group from an “outperform” rating to a “sector perform” rating and lifted their target price for the stock from C$28.00 to C$30.00 in a research note on Wednesday, December 4th. Finally, TD Securities lowered their target price on shares of Aecon Group from C$35.00 to C$30.00 and set a “buy” rating for the company in a research note on Friday. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of C$24.98.

Aecon Group Trading Down 3.9 %

Shares of ARE opened at C$17.96 on Friday. The stock has a market cap of C$1.14 billion, a price-to-earnings ratio of -17.67, a price-to-earnings-growth ratio of 18.18 and a beta of 1.13. The company has a debt-to-equity ratio of 32.84, a current ratio of 1.19 and a quick ratio of 1.27. Aecon Group has a 1-year low of C$13.03 and a 1-year high of C$29.70. The firm has a 50 day simple moving average of C$24.19 and a 200-day simple moving average of C$23.84.

About Aecon Group

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.