CIBC Increases Aecon Group (TSE:ARE) Price Target to C$23.00

Aecon Group (TSE:ARE) had its target price raised by analysts at CIBC from C$22.00 to C$23.00 in a research note issued to investors on Friday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. CIBC’s price objective suggests a potential upside of 34.90% from the stock’s current price.

A number of other equities analysts also recently weighed in on the company. Canaccord Genuity Group upped their price target on Aecon Group from C$14.00 to C$26.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Desjardins upped their price target on Aecon Group from C$16.00 to C$20.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Raymond James upped their price target on Aecon Group from C$14.00 to C$16.00 and gave the stock a “market perform” rating in a research report on Thursday, March 7th. National Bankshares increased their price objective on Aecon Group from C$15.00 to C$18.00 and gave the company a “sector perform” rating in a report on Friday. Finally, ATB Capital increased their price objective on Aecon Group from C$15.25 to C$19.50 and gave the company an “outperform” rating in a report on Thursday, March 7th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$19.17.

Aecon Group Trading Down 0.4 %

TSE:ARE opened at C$17.05 on Friday. Aecon Group has a twelve month low of C$8.42 and a twelve month high of C$17.40. The company has a quick ratio of 1.27, a current ratio of 1.42 and a debt-to-equity ratio of 39.29. The business has a 50 day moving average price of C$16.15 and a two-hundred day moving average price of C$13.58. The company has a market cap of C$1.06 billion, a P/E ratio of 8.12, a price-to-earnings-growth ratio of 18.18 and a beta of 1.16.

Aecon Group (TSE:ARE) last released its quarterly earnings results on Wednesday, April 24th. The company reported C($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of C($0.14) by C$0.04. Aecon Group had a return on equity of 16.04% and a net margin of 3.49%. The firm had revenue of C$846.59 million during the quarter, compared to the consensus estimate of C$1.03 billion. As a group, analysts expect that Aecon Group will post 0.7603047 EPS for the current fiscal year.

Insiders Place Their Bets

In other Aecon Group news, Senior Officer Martina Doyle sold 2,265 shares of Aecon Group stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of C$16.42, for a total transaction of C$37,191.30. In other Aecon Group news, Senior Officer Martina Doyle sold 2,265 shares of Aecon Group stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of C$16.42, for a total transaction of C$37,191.30. Also, Director Stuart Lee acquired 7,000 shares of Aecon Group stock in a transaction on Friday, March 22nd. The shares were bought at an average cost of C$16.33 per share, with a total value of C$114,310.00. Company insiders own 1.72% 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.