CIBC Issues Positive Forecast for Aecon Group (TSE:ARE) Stock Price

by · The Cerbat Gem

Aecon Group (TSE:ARE – Free Report) had its price target hoisted by CIBC from C$25.00 to C$29.00 in a research note issued to investors on Monday, BayStreet.CA reports.

Other equities analysts have also recently issued reports about the company. National Bankshares upgraded Aecon Group from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from C$17.00 to C$20.50 in a research note on Monday, July 29th. BMO Capital Markets dropped their price target on shares of Aecon Group from C$17.50 to C$16.50 in a research report on Wednesday, July 24th. Raymond James upped their price objective on shares of Aecon Group from C$16.00 to C$24.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Royal Bank of Canada lifted their target price on shares of Aecon Group from C$13.00 to C$17.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. Finally, ATB Capital upped their target price on Aecon Group from C$21.00 to C$29.00 and gave the company an “outperform” rating in a report on Monday, September 16th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Aecon Group has an average rating of “Moderate Buy” and an average target price of C$25.94.

Read Our Latest Stock Analysis on ARE

Aecon Group Stock Performance

Shares of Aecon Group stock opened at C$28.59 on Monday. Aecon Group has a 52 week low of C$10.30 and a 52 week high of C$28.63. The company has a quick ratio of 1.27, a current ratio of 1.35 and a debt-to-equity ratio of 32.86. The business has a 50 day moving average price of C$20.83 and a 200-day moving average price of C$17.95. The company has a market cap of C$1.79 billion, a PE ratio of -105.89, a price-to-earnings-growth ratio of 18.18 and a beta of 1.13.

Aecon Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Wednesday, October 2nd were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, September 20th. This represents a $0.76 annualized dividend and a dividend yield of 2.66%. Aecon Group’s payout ratio is -281.48%.

Insider Buying and Selling

In other Aecon Group news, Senior Officer Timothy John Murphy bought 4,244 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was purchased at an average price of C$17.66 per share, for a total transaction of C$74,969.84. 0.82% of the stock is currently owned by insiders.

About Aecon Group

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Aecon Group Inc, together with its subsidiaries, provide construction and infrastructure development services to private and public sector clients in Canada, the United States, and internationally. It operates through two segments, Construction and Concessions. The Construction segment focuses on civil infrastructure, urban transportation solutions, nuclear power infrastructure, utility infrastructure, and conventional industrial infrastructure market sectors.

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