Canadian Imperial Bank of Commerce Issues Positive Forecast for Aecon Group (TSE:ARE) Stock Price
by Jessica Moore · The Cerbat GemAecon Group (TSE:ARE – Get Free Report) had its price objective hoisted by investment analysts at Canadian Imperial Bank of Commerce from C$45.00 to C$48.00 in a report issued on Thursday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s target price would indicate a potential upside of 5.36% from the stock’s current price.
Several other equities analysts have also weighed in on the stock. ATB Cormark Capital Markets raised their price objective on shares of Aecon Group from C$39.00 to C$42.00 and gave the company a “sector perform” rating in a research report on Monday, March 30th. Raymond James Financial increased their price target on Aecon Group from C$41.00 to C$44.00 and gave the company a “market perform” rating in a report on Tuesday, March 31st. Desjardins increased their price target on Aecon Group from C$43.00 to C$45.00 and gave the company a “hold” rating in a report on Monday, March 30th. Canaccord Genuity Group increased their price target on Aecon Group from C$40.00 to C$52.00 and gave the company a “buy” rating in a report on Monday, March 9th. Finally, National Bank Financial increased their price target on Aecon Group from C$45.00 to C$48.00 and gave the company an “outperform” rating in a report on Wednesday. Four investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, Aecon Group has a consensus rating of “Hold” and a consensus price target of C$44.58.
Check Out Our Latest Research Report on Aecon Group
Aecon Group Stock Up 4.7%
ARE traded up C$2.04 during midday trading on Thursday, hitting C$45.56. 553,924 shares of the company’s stock traded hands, compared to its average volume of 489,935. The company has a market cap of C$3.12 billion, a PE ratio of 198.09, a price-to-earnings-growth ratio of 18.18 and a beta of 0.97. The stock’s fifty day simple moving average is C$39.36 and its 200-day simple moving average is C$32.48. The company has a debt-to-equity ratio of 65.17, a current ratio of 1.10 and a quick ratio of 1.27. Aecon Group has a one year low of C$15.21 and a one year high of C$45.89.
Aecon Group (TSE:ARE – Get Free Report) last issued its quarterly earnings data on Thursday, March 5th. The company reported C$0.52 earnings per share for the quarter. The firm had revenue of C$1.54 billion for the quarter. Aecon Group had a net margin of 0.28% and a return on equity of 1.66%. As a group, equities analysts anticipate that Aecon Group will post 1.3793321 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Aecon Group news, Director Eric Stuart Rosenfeld sold 125,000 shares of the stock in a transaction that occurred on Friday, March 27th. The stock was sold at an average price of C$41.64, for a total transaction of C$5,205,000.00. Following the transaction, the director owned 184,200 shares in the company, valued at C$7,670,088. This trade represents a 40.43% decrease in their ownership of the stock. 0.82% of the stock is currently 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.