Aecon Group (TSE:ARE) Share Price Passes Above 200-Day Moving Average – What’s Next?

Shares of Aecon Group Inc. (TSE:ARE) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$25.44 and traded as high as C$34.70. Aecon Group shares last traded at C$33.99, with a volume of 369,103 shares.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ARE. TD Securities upped their target price on shares of Aecon Group from C$34.00 to C$39.00 and gave the company a “buy” rating in a report on Sunday, November 2nd. Atb Cap Markets downgraded shares of Aecon Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. National Bankshares lifted their target price on Aecon Group from C$23.00 to C$26.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 24th. CIBC downgraded Aecon Group from an “outperform” rating to a “neutral” rating and boosted their target price for the company from C$29.00 to C$35.00 in a report on Friday, October 31st. Finally, Royal Bank Of Canada raised their price target on Aecon Group from C$26.00 to C$30.00 and gave the stock a “sector perform” rating in a research note on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of C$33.00.

Aecon Group Trading Down 0.1%

The business’s 50 day simple moving average is C$30.22 and its 200 day simple moving average is C$25.44. The company has a debt-to-equity ratio of 32.84, a current ratio of 1.19 and a quick ratio of 1.27. The company has a market capitalization of C$2.15 billion, a price-to-earnings ratio of 242.79, a price-to-earnings-growth ratio of 18.18 and a beta of 1.51.

Aecon Group (TSE:ARE) last released its quarterly earnings results on Wednesday, October 29th. The company reported C$0.53 earnings per share (EPS) for the quarter. The firm had revenue of C$1.53 billion for the quarter. Aecon Group had a negative return on equity of 6.40% and a negative net margin of 1.56%. Research analysts anticipate that Aecon Group Inc. will post 1.3793321 EPS for the current year.

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