Aecon Group (TSE:ARE) Stock Price Expected to Rise, CIBC Analyst Says

Aecon Group (TSE:ARE) had its target price boosted by investment analysts at CIBC from C$30.00 to C$31.00 in a research note issued on Thursday,BayStreet.CA reports. CIBC’s price target points to a potential upside of 78.78% from the company’s previous close.

Several other equities analysts also recently weighed in on ARE. Raymond James reduced their target price on Aecon Group from C$28.00 to C$23.00 and set a “market perform” rating on the stock in a research report on Friday, March 7th. Royal Bank of Canada dropped their price target on shares of Aecon Group from C$27.00 to C$20.00 in a research report on Monday, March 10th. TD Securities decreased their price target on shares of Aecon Group from C$35.00 to C$30.00 and set a “buy” rating on the stock in a report on Friday, March 7th. BMO Capital Markets dropped their price objective on Aecon Group from C$29.00 to C$24.00 in a report on Friday, March 7th. Finally, Desjardins reduced their target price on Aecon Group from C$32.00 to C$29.00 and set a “buy” rating on the stock in a report on Friday, March 7th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$25.07.

Aecon Group Stock Up 0.8 %

ARE stock opened at C$17.34 on Thursday. Aecon Group has a one year low of C$13.03 and a one year high of C$29.70. The stock has a market capitalization of C$1.10 billion, a P/E ratio of -17.06, a PEG ratio of 18.18 and a beta of 1.13. The company has a 50 day moving average price of C$19.32 and a two-hundred day moving average price of C$23.49. The company has a debt-to-equity ratio of 32.84, a quick ratio of 1.27 and a current ratio of 1.19.

Insider Activity

In related news, Director Stuart Lee purchased 5,700 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were purchased at an average cost of C$18.35 per share, with a total value of C$104,595.00. Insiders own 0.82% of the company’s stock.

About Aecon Group

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.