Aecon Group (TSE:ARE) Hits New 12-Month High After Analyst Upgrade

Shares of Aecon Group Inc. (TSE:ARE) hit a new 52-week high during trading 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 traded. The stock had previously closed at C$28.60.

Several other equities analysts also recently commented on ARE. TD Securities upgraded Aecon Group from a “hold” rating to a “buy” rating and raised their target price for the stock from C$23.00 to C$35.00 in a research report on Monday. Stifel Canada raised shares of Aecon Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 25th. Stifel Nicolaus increased their price target on shares of Aecon Group from C$30.00 to C$31.00 in a research note on Friday, October 4th. BMO Capital Markets increased their price target on shares of Aecon Group from C$16.50 to C$27.00 in a research note on Monday. Finally, Royal Bank of Canada increased their price target on shares of Aecon Group from C$13.00 to C$17.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Aecon Group currently has a consensus rating of “Moderate Buy” and an average price target of C$25.94.

Insider Buying and Selling

In related news, Senior Officer Timothy John Murphy bought 4,244 shares of Aecon Group stock in a transaction that occurred on Thursday, August 8th. The stock was acquired at an average price of C$17.66 per share, with a total value of C$74,969.84. 0.82% of the stock is currently owned by insiders.

Aecon Group Stock Down 2.1 %

The company has a market capitalization of C$1.75 billion, a price-to-earnings ratio of -105.93, a PEG ratio of 18.18 and a beta of 1.13. The company has a current ratio of 1.35, a quick ratio of 1.27 and a debt-to-equity ratio of 32.86. The firm’s 50-day moving average price is C$21.05 and its 200 day moving average price is C$18.03.

Aecon Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Wednesday, October 2nd were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend was Friday, September 20th. Aecon Group’s dividend 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.