Aecon Group (TSE:ARE) Rating Increased to Buy at TD Securities

TD Securities upgraded shares of Aecon Group (TSE:ARE) from a hold rating to a buy rating in a report published on Monday, MarketBeat reports. They currently have C$35.00 price objective on the stock, up from their previous price objective of C$23.00.

Several other research firms have also issued reports on ARE. Raymond James boosted their price target on Aecon Group from C$16.00 to C$24.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. National Bankshares raised Aecon Group from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from C$17.00 to C$20.50 in a report on Monday, July 29th. ATB Capital boosted their price target 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. Canaccord Genuity Group upped their price objective on Aecon Group from C$25.00 to C$28.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Finally, Royal Bank of Canada upped their price objective on Aecon Group from C$13.00 to C$17.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$25.94.

Aecon Group Stock Performance

TSE:ARE opened at C$29.07 on Monday. The stock has a 50-day simple moving average of C$21.48 and a two-hundred day simple moving average of C$18.19. Aecon Group has a 52-week low of C$10.30 and a 52-week high of C$29.50. The company has a debt-to-equity ratio of 32.86, a quick ratio of 1.27 and a current ratio of 1.35. The firm has a market capitalization of C$1.82 billion, a PE ratio of -107.67, a P/E/G 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. Investors of record on Wednesday, October 2nd were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date was Friday, September 20th. Aecon Group’s payout ratio is presently -281.48%.

About Aecon Group

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.