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

Aecon Group Inc. (TSE:ARE) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$38.53 and traded as high as C$45.80. Aecon Group shares last traded at C$45.57, with a volume of 288,851 shares trading hands.

Analysts Set New Price Targets

ARE has been the topic of a number of recent research reports. Raymond James Financial boosted their target price on Aecon Group from C$44.00 to C$54.00 in a research note on Wednesday, April 29th. National Bank Financial boosted their target price on Aecon Group from C$48.00 to C$59.00 and gave the company an “outperform” rating in a research note on Thursday, April 30th. Canaccord Genuity Group boosted their target price on Aecon Group from C$52.00 to C$56.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. TD boosted their target price on Aecon Group from C$49.00 to C$59.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Finally, TD Securities boosted their target price on 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. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of C$52.29.

Aecon Group Stock Performance

The company has a market cap of C$3.12 billion, a P/E ratio of 82.85, a P/E/G ratio of 18.18 and a beta of 1.36. The firm has a 50 day moving average price of C$46.78 and a 200-day moving average price of C$38.53. The company has a debt-to-equity ratio of 42.80, a quick ratio of 1.27 and a current ratio of 1.16.

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

Aecon Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Investors of record on Thursday, April 2nd were paid a dividend of $0.1925 per share. The ex-dividend date was Monday, March 23rd. This represents a $0.77 annualized dividend and a yield of 1.7%. Aecon Group’s dividend payout ratio is presently 138.64%.

Insiders Place Their Bets

In related news, insider Ernest Chan sold 521 shares of the stock in a transaction that occurred on 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 owned 11,003 shares in the company, valued at C$606,155.27. This represents a 4.52% decrease in their position. Also, Director John Michael Beck sold 20,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of C$49.77, for a total value of C$995,400.00. Following the sale, the director owned 201,417 shares of the company’s stock, valued at approximately C$10,024,524.09. The trade was a 9.03% decrease in their position. Insiders have sold 148,451 shares of company stock worth $6,382,370 in the last 90 days. 0.82% of the stock is owned by company insiders.

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.