Aecon Group (TSE:ARE) Given New C$25.00 Price Target at CIBC

Aecon Group (TSE:ARE) had its target price upped by investment analysts at CIBC from C$22.00 to C$25.00 in a report released on Wednesday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. CIBC’s price target would indicate a potential upside of 9.03% from the stock’s previous close.

ARE has been the topic of a number of other research reports. ATB Capital boosted their price target on Aecon Group from C$21.00 to C$29.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. Stifel Nicolaus upped their price objective on shares of Aecon Group from C$30.00 to C$31.00 in a report on Friday, October 4th. National Bank Financial raised shares of Aecon Group from a “hold” rating to a “strong-buy” rating in a report on Sunday, July 28th. TD Securities lowered their price target on shares of Aecon Group from C$17.00 to C$16.00 and set a “hold” rating on the stock in a report on Friday, July 26th. Finally, Stifel Canada raised Aecon Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 25th. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Aecon Group has a consensus rating of “Moderate Buy” and an average target price of C$21.44.

Aecon Group Stock Up 2.0 %

TSE ARE traded up C$0.44 during midday trading on Wednesday, hitting C$22.93. 190,850 shares of the company traded hands, compared to its average volume of 292,036. Aecon Group has a 52 week low of C$8.42 and a 52 week high of C$23.07. The company’s 50-day simple moving average is C$19.21 and its 200-day simple moving average is C$17.35. The company has a market cap of C$1.43 billion, a PE ratio of -84.93, a price-to-earnings-growth ratio of 18.18 and a beta of 1.13. The company has a debt-to-equity ratio of 32.86, a current ratio of 1.35 and a quick ratio of 1.27.

Aecon Group (TSE:ARE) last posted its earnings results on Wednesday, July 24th. The company reported C($1.99) earnings per share (EPS) for the quarter, beating the consensus estimate of C($2.53) by C$0.54. Aecon Group had a return on equity of 1.40% and a net margin of 0.32%. The company had revenue of C$853.80 million for the quarter, compared to analyst estimates of C$1.01 billion. As a group, equities research analysts forecast that Aecon Group will post 1.3793321 earnings per share for the current year.

Insiders Place Their Bets

In other Aecon Group news, Director Scott Stewart purchased 10,000 shares of the company’s stock in a transaction on Monday, July 29th. The stock was acquired at an average price of C$16.54 per share, for a total transaction of C$165,380.00. In other Aecon Group news, Senior Officer Timothy John Murphy bought 4,244 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were acquired at an average price of C$17.66 per share, with a total value of C$74,969.84. Also, Director Scott Stewart purchased 10,000 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was acquired at an average cost of C$16.54 per share, with a total value of C$165,380.00. Insiders purchased a total of 16,549 shares of company stock valued at $274,762 over the last 90 days. 0.82% of the stock is owned by company 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.