Raymond James Issues Pessimistic Forecast for Aecon Group (TSE:ARE) Stock Price

Aecon Group (TSE:ARE) had its price target lowered by equities research analysts at Raymond James from C$28.00 to C$23.00 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has a “market perform” rating on the stock. Raymond James’ price target would suggest a potential upside of 28.06% from the company’s previous close.

A number of other analysts have also commented on the company. CIBC decreased their price objective on Aecon Group from C$33.00 to C$30.00 in a report on Friday. Desjardins cut their target price on Aecon Group from C$32.00 to C$29.00 and set a “buy” rating on the stock in a research note on Friday. TD Securities cut their target price on Aecon Group from C$35.00 to C$30.00 and set a “buy” rating on the stock in a research note on Friday. BMO Capital Markets cut their target price on Aecon Group from C$29.00 to C$24.00 in a research note on Friday. Finally, National Bankshares downgraded Aecon Group from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from C$28.00 to C$30.00 in a research note on Wednesday, December 4th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of C$24.98.

Aecon Group Stock Performance

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