Aecon Group (TSE:ARE) Price Target Raised to C$41.00 at Royal Bank Of Canada

by · The Markets Daily

Aecon Group (TSE:ARE – Get Free Report) had its target price upped by equities researchers at Royal Bank Of Canada from C$30.00 to C$41.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective would indicate a potential downside of 2.05% from the company’s previous close.

A number of other brokerages also recently issued reports on ARE. ATB Cormark Capital Markets increased their price target on shares of Aecon Group from C$35.00 to C$39.00 and gave the stock a “sector perform” rating in a report on Monday. Canaccord Genuity Group upped their price objective on shares of Aecon Group from C$40.00 to C$52.00 and gave the stock a “buy” rating in a research report on Monday. TD Securities increased their target price on shares of Aecon Group from C$39.00 to C$47.00 and gave the stock a “buy” rating in a research note on Monday. National Bank Financial lifted their price target on Aecon Group from C$35.00 to C$45.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Stifel Nicolaus lowered their price target on Aecon Group from C$34.25 to C$28.75 and set a “hold” rating on the stock in a research report on Monday. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of C$39.38.

Check Out Our Latest Research Report on Aecon Group

Aecon Group Stock Performance

Shares of TSE:ARE traded up C$1.08 on Tuesday, hitting C$41.86. 305,612 shares of the company were exchanged, compared to its average volume of 387,385. The stock’s 50 day moving average price is C$35.30 and its 200 day moving average price is C$29.39. The company has a current ratio of 1.10, a quick ratio of 1.27 and a debt-to-equity ratio of 65.17. The firm has a market capitalization of C$2.65 billion, a P/E ratio of 299.00, a price-to-earnings-growth ratio of 18.18 and a beta of 1.10. Aecon Group has a 1-year low of C$15.21 and a 1-year high of C$42.40.

Aecon Group (TSE:ARE – Get Free Report) last posted its quarterly earnings results on Thursday, March 5th. The company reported C$0.52 EPS for the quarter. The company 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%. Sell-side analysts predict that Aecon Group will post 1.3793321 EPS for the current year.

Key Aecon Group News

Here are the key news stories impacting Aecon Group this week:

  • Positive Sentiment: Canaccord raised its price target to C$52 and reiterated a “buy” rating (largest upside among updates, ~27.5% above the referenced price), signaling stronger bullish conviction from an institutional analyst. BayStreet.CA Tickerreport.com
  • Positive Sentiment: National Bank Financial bumped its target to C$45 and moved to “outperform,” reinforcing upward pressure from regional/coverage analysts. BayStreet.CA
  • Positive Sentiment: TD Securities raised its target to C$47, another constructive signal from a major dealer that supports further upside. BayStreet.CA
  • Negative Sentiment: ATB Cormark lifted its target to C$39 but retained a “sector perform” stance — the new target sits below the current quoted level, which could limit upside from that firm’s clients. BayStreet.CA
  • Negative Sentiment: Stifel Nicolaus cut its target to C$28.75 and kept a “hold” rating, representing the most bearish view among today’s updates and a notable downside scenario for the stock. BayStreet.CA

About Aecon Group

(Get Free Report)

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.

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