Raymond James Cuts Aecon Group (TSE:ARE) Price Target to C$21.00

Aecon Group (TSE:ARE) had its price target trimmed by Raymond James from C$23.00 to C$21.00 in a research note released on Monday morning,BayStreet.CA reports.

Several other equities research analysts have also recently weighed in on the stock. Stifel Canada upgraded shares of Aecon Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 17th. CIBC reduced their target price on shares of Aecon Group from C$31.00 to C$24.00 in a research note on Friday, April 25th. BMO Capital Markets dropped their target price on Aecon Group from C$20.00 to C$19.00 in a report on Friday, April 25th. Desjardins decreased their price target on Aecon Group from C$32.00 to C$29.00 and set a “buy” rating on the stock in a research note on Friday, March 7th. Finally, Stifel Nicolaus lowered their price target on Aecon Group from C$16.00 to C$14.00 in a research report on Friday, April 25th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of C$22.90.

Aecon Group Stock Up 1.4 %

TSE ARE opened at C$16.14 on Monday. The company has a debt-to-equity ratio of 32.84, a quick ratio of 1.27 and a current ratio of 1.19. The firm has a 50-day simple moving average of C$18.08 and a 200 day simple moving average of C$23.18. Aecon Group has a twelve month low of C$13.03 and a twelve month high of C$29.70. The stock has a market cap of C$1.02 billion, a PE ratio of -15.88, a PEG ratio of 18.18 and a beta of 1.13.

Aecon Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, April 2nd were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 4.71%. The ex-dividend date was Friday, March 21st. Aecon Group’s dividend payout ratio (DPR) is presently -74.76%.

Insider Activity

In related news, Director Stuart Lee bought 5,700 shares of the business’s stock in a transaction on Monday, March 10th. The shares were purchased at an average price of C$18.35 per share, with a total value of C$104,595.00. 0.82% of the stock is currently owned by 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.