Aecon Group Inc (ARE) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Aecon Group Inc (TSE:ARE) have received a consensus recommendation of “Hold” from the nine analysts that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is C$20.21.
A number of equities research analysts have commented on ARE shares. Raymond James Financial decreased their price objective on shares of Aecon Group from C$21.00 to C$19.00 and set an “outperform” rating on the stock in a report on Monday, October 16th. Industrial Alliance Securities lowered shares of Aecon Group from a “strong-buy” rating to a “tender” rating and decreased their price objective for the stock from C$20.50 to C$20.37 in a report on Friday, October 27th. Royal Bank of Canada reissued a “sector perform” rating and set a C$18.00 price objective on shares of Aecon Group in a report on Monday, October 23rd. National Bank Financial lowered shares of Aecon Group from a “sector perform” rating to a “tender” rating and raised their target price for the company from C$18.00 to C$20.37 in a research note on Sunday, October 29th. Finally, CIBC lowered shares of Aecon Group from an “outperform” rating to a “neutral” rating and reduced their target price for the company from C$21.00 to C$20.37 in a research note on Friday, October 27th.
Aecon Group (TSE ARE) traded up C$0.03 on Monday, hitting C$19.94. 71,020 shares of the stock traded hands, compared to its average volume of 370,291. Aecon Group has a fifty-two week low of C$14.13 and a fifty-two week high of C$20.04. The company has a market cap of $1,170.00, a price-to-earnings ratio of 39.88 and a beta of 0.61.
About Aecon Group
Aecon Group Inc provides construction and infrastructure development services to private and public sector clients in Canada, the United States, and internationally. It operates through four segments: Infrastructure, Energy, Mining, and Concessions. The Infrastructure segment is involved in the construction of roads and bridges, and rail and transit systems, as well as in asphalt production and aggregates, municipal construction, commercial site design, and material engineering and design activities.
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