Aecon Group (TSE:ARE) Given New C$29.00 Price Target at Desjardins

Aecon Group (TSE:ARE) had its price objective lowered by analysts at Desjardins from C$32.00 to C$29.00 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ target price indicates a potential upside of 59.08% from the stock’s previous close.

A number of other research analysts also recently commented on ARE. CIBC reduced their price target on Aecon Group from C$35.00 to C$33.00 in a report on Monday, February 3rd. National Bankshares lowered shares of Aecon Group from an “outperform” rating to a “sector perform” rating and lifted their price target for the stock from C$28.00 to C$30.00 in a research note on Wednesday, December 4th. BMO Capital Markets boosted their price objective on Aecon Group from C$27.00 to C$29.00 in a report on Friday, December 6th. Finally, National Bank Financial downgraded shares of Aecon Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 3rd. Seven research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Aecon Group currently has a consensus rating of “Moderate Buy” and an average price target of C$24.98.

Aecon Group Stock Down 2.5 %

Shares of TSE:ARE traded down C$0.46 during mid-day trading on Friday, hitting C$18.23. 977,458 shares of the company traded hands, compared to its average volume of 420,637. The firm’s 50 day simple moving average is C$24.38 and its 200 day simple moving average is C$23.88. The firm has a market cap of C$1.15 billion, a P/E ratio of -17.93, a PEG ratio of 18.18 and a beta of 1.13. The company has a debt-to-equity ratio of 32.84, a quick ratio of 1.27 and a current ratio of 1.19. Aecon Group has a 52-week low of C$13.03 and a 52-week high of C$29.70.

Aecon Group Company Profile

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.