Aecon Group (TSE:ARE) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Aecon Group (TSE:ARE) had its price objective raised by research analysts at Canaccord Genuity Group from C$28.00 to C$33.00 in a research note issued to investors on Monday, BayStreet.CA reports. Canaccord Genuity Group’s price objective suggests a potential upside of 15.38% from the stock’s current price.

Several other analysts also recently weighed in on ARE. Royal Bank of Canada boosted their price objective on Aecon Group from C$13.00 to C$17.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Stifel Nicolaus raised their price target on shares of Aecon Group from C$30.00 to C$31.00 in a report on Friday, October 4th. TD Securities raised shares of Aecon Group from a “hold” rating to a “buy” rating and upped their price objective for the company from C$23.00 to C$35.00 in a research note on Monday. Stifel Canada raised Aecon Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 25th. Finally, Raymond James upped 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 report 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 given a strong buy rating to the company’s stock. According to MarketBeat, Aecon Group currently has an average rating of “Moderate Buy” and a consensus price target of C$25.94.

Aecon Group Stock Performance

TSE ARE opened at C$28.60 on Monday. The company has a 50-day simple moving average of C$21.05 and a two-hundred day simple moving average of C$18.03. Aecon Group has a 12-month low of C$10.30 and a 12-month high of C$28.79. The firm has a market cap of C$1.79 billion, a price-to-earnings ratio of -105.93, a PEG ratio of 18.18 and a beta of 1.13. The company has a quick ratio of 1.27, a current ratio of 1.35 and a debt-to-equity ratio of 32.86.

Insider Transactions at Aecon Group

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

About Aecon Group

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.