Analysts Set Aecon Group Inc. (TSE:ARE) Target Price at C$22.90

Aecon Group Inc. (TSE:ARE) has been given a consensus rating of “Buy” by the twelve brokerages that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is C$22.90.

Several research analysts recently commented on ARE shares. Stifel Canada upgraded Aecon Group from a “hold” rating to a “strong-buy” rating in a research report 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 report on Friday, April 25th. Raymond James lowered their price objective on shares of Aecon Group from C$23.00 to C$21.00 in a research note on Monday, April 28th. Stifel Nicolaus cut their price target on Aecon Group from C$16.00 to C$14.00 in a report on Friday, April 25th. Finally, National Bankshares raised shares of Aecon Group from a “sector perform” rating to an “outperform” rating in a research report on Monday, March 10th.

Aecon Group Stock Performance

TSE:ARE opened at C$19.28 on Thursday. The stock has a 50-day moving average price of C$18.00 and a 200 day moving average price of C$21.51. The stock has a market capitalization of C$1.22 billion, a P/E ratio of -18.97, a P/E/G ratio of 18.18 and a beta of 1.13. Aecon Group has a 12-month low of C$13.03 and a 12-month high of C$29.70. The company has a current ratio of 1.19, a quick ratio of 1.27 and a debt-to-equity ratio of 32.84.

Aecon Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Thursday, July 3rd will be issued a dividend of $0.19 per share. The ex-dividend date is Monday, June 23rd. This represents a $0.76 annualized dividend and a yield of 3.94%. Aecon Group’s dividend payout ratio is currently -74.76%.

Insiders Place Their Bets

In other news, Director Scott William Thon bought 10,500 shares of the firm’s stock in a transaction on Tuesday, June 3rd. The shares were bought at an average cost of C$19.21 per share, for a total transaction of C$201,705.00. Also, Director Leslie Compton Kass purchased 6,325 shares of the company’s stock in a transaction dated Tuesday, June 10th. The stock was purchased at an average price of C$19.44 per share, with a total value of C$122,953.83. In the last 90 days, insiders have acquired 21,825 shares of company stock worth $419,159. Company insiders own 0.82% of the company’s stock.

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.