Aecon Group (TSE:ARE) Price Target Cut to C$20.00 by Analysts at TD Securities

Aecon Group (TSE:ARE) had its price target lowered by TD Securities from C$23.00 to C$20.00 in a report released on Friday,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Other research analysts have also issued research reports about the stock. Raymond James raised shares of Aecon Group from a “market perform” rating to an “outperform” rating and set a C$23.00 price objective for the company in a research report on Tuesday, April 22nd. Desjardins cut their price target on Aecon Group from C$32.00 to C$29.00 and set a “buy” rating for the company in a report on Friday, March 7th. CIBC decreased their price objective on Aecon Group from C$31.00 to C$24.00 in a report on Friday. National Bank Financial upgraded Aecon Group from a “hold” rating to a “strong-buy” rating in a research note on Sunday, March 9th. Finally, National Bankshares raised Aecon Group from a “sector perform” rating to an “outperform” rating in a research report on Monday, March 10th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Aecon Group currently has an average rating of “Buy” and an average target price of C$23.10.

Aecon Group Price Performance

TSE:ARE opened at C$15.40 on Friday. The company has a debt-to-equity ratio of 32.84, a current ratio of 1.19 and a quick ratio of 1.27. Aecon Group has a one year low of C$13.03 and a one year high of C$29.70. The company has a fifty day moving average price of C$18.52 and a 200 day moving average price of C$23.30. The stock has a market cap of C$974.29 million, a P/E ratio of -15.15, a PEG ratio of 18.18 and a beta of 1.13.

Aecon Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, April 2nd were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, March 21st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.94%. Aecon Group’s payout ratio is presently -74.76%.

Insider Activity

In other Aecon Group news, Director Stuart Lee bought 5,700 shares of Aecon Group stock in a transaction dated Monday, March 10th. The shares were acquired at an average cost of C$18.35 per share, with a total value of C$104,595.00. 0.82% of the stock is owned by corporate insiders.

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.