Aecon Group (TSE:ARE) Given New C$24.00 Price Target at Raymond James

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

Other research analysts have also issued reports about the company. CIBC lifted their price objective on Aecon Group from C$22.00 to C$25.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Royal Bank of Canada boosted their price target on 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. TD Securities reduced their price objective on shares of Aecon Group from C$17.00 to C$16.00 and set a “hold” rating for the company in a research report on Friday, July 26th. ATB Capital boosted their target price on shares of Aecon Group from C$21.00 to C$29.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. Finally, National Bankshares upgraded shares of Aecon Group from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from C$17.00 to C$20.50 in a report on Monday, July 29th. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$22.07.

Aecon Group Price Performance

Shares of TSE ARE opened at C$27.52 on Wednesday. The company has a market capitalization of C$1.72 billion, a PE ratio of -101.93, a P/E/G ratio of 18.18 and a beta of 1.13. The company has a quick ratio of 1.27, a current ratio of 1.35 and a debt-to-equity ratio of 32.86. Aecon Group has a twelve month low of C$10.30 and a twelve month high of C$27.61. The firm has a fifty day simple moving average of C$20.62 and a 200 day simple moving average of C$17.86.

Aecon Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Wednesday, October 2nd were given a $0.19 dividend. The ex-dividend date was Friday, September 20th. This represents a $0.76 annualized dividend and a yield of 2.76%. Aecon Group’s payout ratio is -281.48%.

Insiders Place Their Bets

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

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.