Aecon Group (TSE:ARE) Price Target Raised to C$24.00

Aecon Group (TSE:ARE) had its price objective increased by Raymond James from C$16.00 to C$24.00 in a report released on Wednesday morning, BayStreet.CA reports. They currently have a market perform rating on the stock.

Several other equities analysts have also recently commented on the stock. BMO Capital Markets decreased their price target on shares of Aecon Group from C$17.50 to C$16.50 in a research report on Wednesday, July 24th. Stifel Nicolaus boosted their target price on Aecon Group from C$30.00 to C$31.00 in a research note on Friday, October 4th. ATB Capital upped their price target on Aecon Group from C$21.00 to C$29.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. CIBC lifted their price objective on Aecon Group from C$22.00 to C$25.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, National Bank Financial raised Aecon Group from a “hold” rating to a “strong-buy” rating in a research report on Sunday, July 28th. Five analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Aecon Group currently has an average rating of “Moderate Buy” and an average target price of C$22.07.

Aecon Group Stock Performance

Shares of Aecon Group stock opened at C$27.52 on Wednesday. The stock has a market capitalization of C$1.72 billion, a price-to-earnings ratio of -93.93, a price-to-earnings-growth ratio of 18.18 and a beta of 1.13. 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 business has a 50-day moving average of C$20.43 and a 200 day moving average of C$17.79. Aecon Group has a 12 month low of C$10.30 and a 12 month high of C$27.61.

Aecon Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Wednesday, October 2nd were given 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 2.76%. Aecon Group’s dividend payout ratio is presently -281.48%.

Insider Activity

In related news, Senior Officer Timothy John Murphy purchased 4,244 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were purchased at an average cost of C$17.66 per share, for a total transaction of C$74,969.84. Company insiders own 0.82% of the company’s stock.

Aecon Group Company Profile

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.