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

by · The Markets Daily

Aecon Group (TSE:ARE – Get Free Report) had its price objective increased by investment analysts at CIBC from C$25.00 to C$29.00 in a report issued on Monday, BayStreet.CA reports. CIBC’s price objective suggests a potential upside of 2.84% from the company’s current price.

A number of other research firms have also recently commented on ARE. Canaccord Genuity Group lifted their target price on Aecon Group from C$25.00 to C$28.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. ATB Capital lifted their price target on Aecon Group from C$21.00 to C$29.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. TD Securities decreased their price objective on Aecon Group from C$17.00 to C$16.00 and set a “hold” rating for the company in a report on Friday, July 26th. BMO Capital Markets cut their target price on shares of Aecon Group from C$17.50 to C$16.50 in a report on Wednesday, July 24th. Finally, National Bank Financial upgraded shares of Aecon Group from a “hold” rating to a “strong-buy” rating in a research note on Sunday, July 28th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$25.57.

Check Out Our Latest Report on Aecon Group

Aecon Group Stock Up 2.5 %

Shares of Aecon Group stock traded up C$0.68 during trading hours on Monday, hitting C$28.20. The company had a trading volume of 494,464 shares, compared to its average volume of 293,000. The company’s 50-day moving average is C$20.62 and its two-hundred day moving average is C$17.87. Aecon Group has a twelve month low of C$10.30 and a twelve month high of C$28.27. The company has a debt-to-equity ratio of 32.86, a current ratio of 1.35 and a quick ratio of 1.27. The company has a market cap of C$1.76 billion, a P/E ratio of -104.48, a price-to-earnings-growth ratio of 18.18 and a beta of 1.13.

Insider Transactions at Aecon Group

In related news, Senior Officer Timothy John Murphy acquired 4,244 shares of Aecon Group stock in a transaction that occurred 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. Corporate insiders own 0.82% of the company’s stock.

Aecon Group Company Profile

(Get Free Report)

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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