Aecon Group (TSE:ARE) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Aecon Group Inc. (TSE:ARE) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$24.93 and traded as high as C$33.30. Aecon Group shares last traded at C$33.21, with a volume of 505,408 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ARE. Atb Cap Markets downgraded Aecon Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. Cibc Captl Mkts lowered shares of Aecon Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 31st. Canaccord Genuity Group increased their price target on Aecon Group from C$29.00 to C$40.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Royal Bank Of Canada increased their price target on shares of Aecon Group from C$26.00 to C$30.00 and gave the company a “sector perform” rating in a research note on Monday, November 3rd. Finally, ATB Capital cut shares of Aecon Group from an “outperform” rating to a “sector perform” rating and upped their target price for the company from C$28.00 to C$32.00 in a report on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Aecon Group has an average rating of “Moderate Buy” and a consensus price target of C$33.00.

Aecon Group Stock Performance

The stock’s 50-day moving average price is C$29.66 and its 200-day moving average price is C$24.93. The company has a market cap of C$2.10 billion, a P/E ratio of 237.21, a PEG ratio of 18.18 and a beta of 1.51. 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 (TSE:ARE) last released its quarterly earnings results on Wednesday, October 29th. The company reported C$0.53 earnings per share for the quarter. The company had revenue of C$1.53 billion during the quarter. Aecon Group had a negative net margin of 1.56% and a negative return on equity of 6.40%. Equities analysts anticipate that Aecon Group Inc. will post 1.3793321 EPS for the current year.

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. Aecon generates the majority of its revenue from the Construction segment.