CIBC Lowers Aecon Group (TSE:ARE) Price Target to C$30.00

Aecon Group (TSE:ARE) had its target price lowered by CIBC from C$33.00 to C$30.00 in a note issued to investors on Friday,BayStreet.CA reports. CIBC’s price target indicates a potential upside of 67.04% from the stock’s previous close.

ARE has been the subject of several other research reports. Desjardins decreased their price target on Aecon Group from C$32.00 to C$29.00 and set a “buy” rating for the company in a research note on Friday. TD Securities decreased their price target on Aecon Group from C$35.00 to C$30.00 and set a “buy” rating for the company in a research note on Friday. National Bank Financial cut Aecon Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. National Bankshares lowered Aecon Group from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from C$28.00 to C$30.00 in a report on Wednesday, December 4th. Finally, BMO Capital Markets boosted their price target on Aecon Group from C$27.00 to C$29.00 in a report on Friday, December 6th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of C$24.98.

Aecon Group Stock Down 3.9 %

ARE stock opened at C$17.96 on Friday. Aecon Group has a 1-year low of C$13.03 and a 1-year high of C$29.70. The business has a fifty day moving average price of C$24.19 and a 200-day moving average price of C$23.84. The company has a debt-to-equity ratio of 32.84, a current ratio of 1.19 and a quick ratio of 1.27. The stock has a market capitalization of C$1.14 billion, a P/E ratio of -17.67, a P/E/G ratio of 18.18 and a beta of 1.13.

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.