Aecon Group (TSE:ARE) Stock Price Expected to Rise, Canadian Imperial Bank of Commerce Analyst Says

Aecon Group (TSE:ARE) had its target price hoisted by Canadian Imperial Bank of Commerce from C$38.75 to C$44.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The firm presently has a “hold” rating on the stock. Canadian Imperial Bank of Commerce’s target price would suggest a potential upside of 4.27% from the company’s previous close.

A number of other research firms have also commented on ARE. Stifel Nicolaus reduced their price objective on Aecon Group from C$34.25 to C$28.75 and set a “hold” rating on the stock in a research note on Monday, March 9th. National Bank Financial raised their target price on Aecon Group from C$35.00 to C$45.00 and gave the company an “outperform” rating in a research note on Monday, March 9th. Royal Bank Of Canada lifted their price target on Aecon Group from C$30.00 to C$41.00 and gave the company a “sector perform” rating in a report on Tuesday, March 10th. ATB Cormark Capital Markets upped their price target on shares of Aecon Group from C$39.00 to C$42.00 and gave the stock a “sector perform” rating in a research report on Monday. Finally, Desjardins increased their price objective on shares of Aecon Group from C$43.00 to C$45.00 and gave the stock a “hold” rating in a report on Monday. Four equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of C$43.58.

Aecon Group Price Performance

Shares of Aecon Group stock opened at C$42.20 on Tuesday. The firm has a market cap of C$2.70 billion, a P/E ratio of 183.48, a price-to-earnings-growth ratio of 18.18 and a beta of 1.10. The firm’s 50-day simple moving average is C$38.53 and its 200-day simple moving average is C$31.82. Aecon Group has a twelve month low of C$15.21 and a twelve month high of C$44.71. The company has a debt-to-equity ratio of 65.17, a quick ratio of 1.27 and a current ratio of 1.10.

Aecon Group (TSE:ARE) last announced its quarterly earnings results on Thursday, March 5th. The company reported C$0.52 earnings per share for the quarter. Aecon Group had a return on equity of 1.66% and a net margin of 0.28%.The firm had revenue of C$1.54 billion for the quarter. As a group, research analysts expect that Aecon Group will post 1.3793321 EPS for the current fiscal 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.