Canaccord Genuity Group Forecasts Strong Price Appreciation for Aecon Group (TSE:ARE) Stock

Aecon Group (TSE:ARE) had its price target raised by investment analysts at Canaccord Genuity Group from C$28.00 to C$33.00 in a report released on Monday, BayStreet.CA reports. Canaccord Genuity Group’s price objective would indicate a potential upside of 17.02% from the company’s current price.

A number of other equities research analysts have also recently weighed in on ARE. National Bankshares upgraded shares of Aecon Group from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from C$17.00 to C$20.50 in a research report on Monday, July 29th. CIBC lifted their target price on shares of Aecon Group from C$25.00 to C$29.00 in a report on Monday. BMO Capital Markets decreased their price target on Aecon Group from C$17.50 to C$16.50 in a research note on Wednesday, July 24th. Raymond James lifted their price objective on Aecon Group from C$16.00 to C$24.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Finally, TD Securities raised Aecon Group from a “hold” rating to a “buy” rating and increased their target price for the stock from C$23.00 to C$35.00 in a research note on Monday. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$25.57.

Aecon Group Trading Up 2.5 %

Aecon Group stock traded up C$0.68 during mid-day trading on Monday, hitting C$28.20. The company’s stock had a trading volume of 494,464 shares, compared to its average volume of 293,000. The stock’s fifty day moving average is C$20.62 and its two-hundred day moving average is C$17.87. The company has a current ratio of 1.35, a quick ratio of 1.27 and a debt-to-equity ratio of 32.86. The firm has a market capitalization of C$1.76 billion, a PE ratio of -104.44, a price-to-earnings-growth ratio of 18.18 and a beta of 1.13. Aecon Group has a 1 year low of C$10.30 and a 1 year high of C$28.27.

Insider Buying and Selling

In related news, Senior Officer Timothy John Murphy purchased 4,244 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were bought at an average cost of C$17.66 per share, for a total transaction of C$74,969.84. 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.