Aecon Group (TSE:ARE) Hits New 52-Week High After Analyst Upgrade

Aecon Group Inc. (TSE:ARE) reached a new 52-week high during trading on Monday after Stifel Nicolaus raised their price target on the stock from C$30.00 to C$34.25. Stifel Nicolaus currently has a hold rating on the stock. Aecon Group traded as high as C$37.49 and last traded at C$37.10, with a volume of 48622 shares trading hands. The stock had previously closed at C$37.29.

ARE has been the subject of several other reports. Canadian Imperial Bank of Commerce lowered Aecon Group from an “outperform” rating to a “hold” rating and lifted their price objective for the stock from C$29.00 to C$35.00 in a research report on Friday, October 31st. Desjardins cut Aecon Group from a “buy” rating to a “hold” rating and raised their price objective for the company from C$22.00 to C$35.00 in a research note on Friday, October 31st. Canaccord Genuity Group lifted their price target on Aecon Group from C$29.00 to C$40.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Royal Bank Of Canada boosted their target price 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, BMO Capital Markets upped their price target on Aecon Group from C$25.00 to C$30.00 in a research report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$33.43.

Aecon Group Price Performance

The stock has a market capitalization of C$2.33 billion, a PE ratio of 262.64, a PEG ratio of 18.18 and a beta of 1.36. The company has a quick ratio of 1.27, a current ratio of 1.19 and a debt-to-equity ratio of 32.84. The firm’s fifty day moving average price is C$32.72 and its two-hundred day moving average price is C$27.00.

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