Aecon Group (TSE:ARE) Hits New 1-Year High on Analyst Upgrade

Aecon Group Inc. (TSE:ARE)’s share price hit a new 52-week high on Wednesday after Raymond James raised their price target on the stock from C$24.00 to C$28.00. The company traded as high as C$28.86 and last traded at C$28.72, with a volume of 6889 shares changing hands. The stock had previously closed at C$28.60.

Several other equities research analysts have also recently commented on the company. Stifel Nicolaus lifted their target price on Aecon Group from C$30.00 to C$31.00 in a research note on Friday, October 4th. Royal Bank of Canada lifted 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 report on Monday, July 29th. Canaccord Genuity Group upped their target price on shares of Aecon Group from C$28.00 to C$33.00 in a research report on Monday. ATB Capital lifted their price target on shares of 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. Finally, National Bankshares raised shares of Aecon Group from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from C$17.00 to C$20.50 in a research note on Monday, July 29th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Aecon Group presently has an average rating of “Moderate Buy” and a consensus price target of C$25.94.

Aecon Group Stock Performance

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$1.80 billion, a price-to-earnings ratio of -106.85, a price-to-earnings-growth ratio of 18.18 and a beta of 1.13. The stock has a 50-day moving average price of C$21.26 and a 200 day moving average price of C$18.11.

Aecon Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Wednesday, October 2nd were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend was Friday, September 20th. Aecon Group’s payout ratio is currently -281.48%.

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.