Aecon Group (ARE) Rating Increased to Strong-Buy at Industrial Alliance Securities

Aecon Group (TSE:ARE) was upgraded by investment analysts at Industrial Alliance Securities from a “buy” rating to a “strong-buy” rating in a report issued on Friday. The firm presently has a C$23.00 price objective on the stock, up from their previous price objective of C$19.50. Industrial Alliance Securities’ price objective suggests a potential upside of 27.78% from the stock’s current price.

A number of other equities analysts also recently issued reports on ARE. AltaCorp Capital upgraded Aecon Group from an “underperform” rating to a “sector perform” rating in a report on Monday, July 30th. National Bank Financial raised their price target on Aecon Group from C$18.00 to C$19.00 and gave the company an “outperform” rating in a report on Monday, July 30th. Raymond James restated a “c$15.39” rating and set a C$20.50 price target on shares of Aecon Group in a report on Thursday, July 19th. Canaccord Genuity raised their price target on Aecon Group from C$22.00 to C$23.00 in a report on Thursday, October 4th. Finally, TD Securities raised their price target on Aecon Group from C$20.00 to C$21.00 and gave the company a “buy” rating in a report on Monday, July 30th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of C$21.00.

ARE traded up C$1.76 during trading on Friday, reaching C$18.00. The stock had a trading volume of 2,188,822 shares, compared to its average volume of 353,541. Aecon Group has a one year low of C$14.27 and a one year high of C$20.06.

Aecon Group (TSE:ARE) last posted its quarterly earnings data on Thursday, July 26th. The company reported C$0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.15 by C($0.02). The firm had revenue of C$754.77 million during the quarter, compared to the consensus estimate of C$688.83 million. Aecon Group had a return on equity of 13.31% and a net margin of 3.24%.

In related news, Director John Michael Beck sold 48,800 shares of the stock in a transaction on Thursday, September 13th. The stock was sold at an average price of C$16.66, for a total transaction of C$813,008.00.

Aecon Group Company Profile

Aecon Group Inc provides construction and infrastructure development services to private and public sector clients in Canada, the United States, and internationally. It operates through four segments: Infrastructure, Energy, Mining, and Concessions. The Infrastructure segment is involved in the construction of roads and bridges, and rail and transit systems, as well as in asphalt production and aggregates, municipal construction, commercial site design, and material engineering and design activities.

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Analyst Recommendations for Aecon Group (TSE:ARE)

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