Raymond James Upgrades Aecon Group (ARE) to Strong-Buy

Aecon Group (TSE:ARE) was upgraded by analysts at Raymond James from an “outperform” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday. The brokerage presently has a C$20.50 price objective on the stock. Raymond James’ price objective suggests a potential upside of 34.43% from the stock’s previous close.

ARE has been the subject of several other reports. Canaccord Genuity lifted their target price on shares of Aecon Group from C$20.37 to C$22.00 in a research note on Thursday, May 24th. Royal Bank of Canada lowered their price objective on shares of Aecon Group from C$20.00 to C$17.00 and set a “sector perform” rating for the company in a research note on Thursday, May 24th. National Bank Financial boosted their price objective on shares of Aecon Group from C$17.50 to C$18.00 and gave the company an “outperform” rating in a research note on Friday, June 1st. CIBC lowered their price objective on shares of Aecon Group from C$20.37 to C$20.00 in a research note on Thursday, May 24th. Finally, AltaCorp Capital reissued an “underperform” rating on shares of Aecon Group in a research note on Tuesday, March 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of C$19.60.

ARE stock traded up C$0.42 during midday trading on Wednesday, hitting C$15.25. The stock had a trading volume of 604,273 shares, compared to its average volume of 306,486. Aecon Group has a 12-month low of C$14.13 and a 12-month high of C$20.06.

Aecon Group (TSE:ARE) last released its earnings results on Wednesday, April 25th. The company reported C($0.32) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of C($0.12) by C($0.20). The firm had revenue of C$543.33 million during the quarter, compared to analysts’ expectations of C$732.40 million. Aecon Group had a return on equity of 13.31% and a net margin of 3.24%.

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.

Analyst Recommendations for Aecon Group (TSE:ARE)

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