Aecon Group Inc. (TSE:ARE) Receives Average Rating of “Hold” from Brokerages

Aecon Group Inc. (TSE:ARE) has earned an average rating of “Hold” from the nine brokerages that are currently covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is C$33.43.

Several equities analysts have weighed in on ARE shares. BMO Capital Markets boosted their target price on shares of Aecon Group from C$25.00 to C$30.00 in a report on Friday, October 31st. Raymond James Financial cut Aecon Group from a “moderate buy” rating to a “hold” rating and upped their price objective for the company from C$26.00 to C$33.00 in a report on Friday, October 31st. ATB Cormark Capital Markets lowered Aecon Group from an “outperform” rating to a “sector perform” rating and increased their price objective for the stock from C$28.00 to C$32.00 in a research report on Friday, October 31st. Canaccord Genuity Group raised their target price on Aecon Group from C$29.00 to C$40.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Finally, Canadian Imperial Bank of Commerce downgraded Aecon Group from an “outperform” rating to a “hold” rating and lifted their target price for the company from C$29.00 to C$35.00 in a research report on Friday, October 31st.

Aecon Group Trading Up 1.7%

Shares of ARE opened at C$36.03 on Tuesday. 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 has a 12-month low of C$15.21 and a 12-month high of C$37.99. The firm has a 50-day moving average price of C$33.26 and a 200 day moving average price of C$27.48. The firm has a market capitalization of C$2.28 billion, a P/E ratio of 257.36, a P/E/G ratio of 18.18 and a beta of 1.36.

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.