Aecon Group (TSE:ARE) Stock Passes Above 200 Day Moving Average – Here’s Why

Aecon Group Inc. (TSE:ARE)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$42.98 and traded as high as C$51.95. Aecon Group shares last traded at C$50.31, with a volume of 222,513 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ARE shares. Desjardins increased their target price on shares of Aecon Group from C$55.00 to C$61.00 and gave the stock a “hold” rating in a research note on Monday, July 6th. TD Securities lifted their price target on shares of Aecon Group from C$47.00 to C$49.00 and gave the company a “buy” rating in a research note on Monday, March 30th. BMO Capital Markets increased their price objective on shares of Aecon Group from C$45.00 to C$49.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 29th. Stifel Nicolaus upgraded Aecon Group from a “hold” rating to a “buy” rating and raised their target price for the company from C$46.00 to C$54.00 in a research note on Friday, June 26th. Finally, Jefferies Financial Group boosted their target price on Aecon Group from C$49.00 to C$59.00 in a research report on Monday, April 27th. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$55.08.

Aecon Group Trading Down 2.9%

The company has a quick ratio of 1.27, a current ratio of 1.16 and a debt-to-equity ratio of 42.80. The firm has a 50 day moving average price of C$47.04 and a 200 day moving average price of C$42.98. The stock has a market capitalization of C$3.44 billion, a PE ratio of 91.47, a P/E/G ratio of 18.18 and a beta of 1.38.

Aecon Group (TSE:ARE) last announced its earnings results on Tuesday, April 28th. The company reported C($0.21) earnings per share (EPS) for the quarter. The company had revenue of C$1.26 billion for the quarter. Aecon Group had a net margin of 0.62% and a return on equity of 3.71%. Equities analysts expect that Aecon Group Inc. will post 1.3793321 EPS for the current fiscal year.

Aecon Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 3rd. Stockholders of record on Friday, July 3rd were issued a $0.1925 dividend. The ex-dividend date was Tuesday, June 23rd. This represents a $0.77 annualized dividend and a dividend yield of 1.5%. Aecon Group’s dividend payout ratio is currently 138.64%.

Insider Activity at Aecon Group

In related news, insider Timothy John Murphy sold 2,930 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of C$52.31, for a total transaction of C$153,268.30. Following the transaction, the insider directly owned 4,801 shares in the company, valued at approximately C$251,140.31. The trade was a 37.90% decrease in their ownership of the stock. Also, insider Ernest Chan sold 521 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of C$55.09, for a total transaction of C$28,701.89. Following the completion of the sale, the insider directly owned 11,003 shares of the company’s stock, valued at C$606,155.27. The trade was a 4.52% decrease in their ownership of the stock. Insiders have sold 23,451 shares of company stock valued at $1,177,370 over the last ninety days. Corporate insiders own 0.82% of the company’s stock.

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.