Aecon Group (TSE:ARE – Get Free Report) was upgraded by research analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a report issued on Friday,BayStreet.CA reports. The firm presently has a C$54.00 target price on the stock, up from their previous target price of C$46.00. Stifel Nicolaus’ price target points to a potential upside of 22.81% from the company’s current price.
Other research analysts have also issued reports about the stock. TD Securities upped their target price on shares of Aecon Group from C$47.00 to C$49.00 and gave the company a “buy” rating in a report on Monday, March 30th. Canadian Imperial Bank of Commerce increased their price target on Aecon Group from C$45.00 to C$48.00 in a report on Thursday, April 9th. Desjardins boosted their price objective on Aecon Group from C$52.00 to C$55.00 and gave the company a “hold” rating in a report on Friday. Canaccord Genuity Group boosted their price target on shares of Aecon Group from C$52.00 to C$56.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, Jefferies Financial Group raised their price target on Aecon Group from C$49.00 to C$59.00 in a report on Monday, April 27th. Five investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Aecon Group presently has a consensus rating of “Hold” and a consensus target price of C$53.33.
Get Our Latest Report on Aecon Group
Aecon Group Stock Up 0.5%
Aecon Group (TSE:ARE – Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The company reported C($0.21) earnings per share (EPS) for the quarter. Aecon Group had a return on equity of 3.71% and a net margin of 0.62%.The firm had revenue of C$1.26 billion for the quarter. As a group, analysts forecast that Aecon Group will post 1.3793321 earnings per share for the current fiscal year.
Insider Buying and Selling at Aecon Group
In related news, insider Timothy John Murphy sold 2,930 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of C$52.31, for a total transaction of C$153,268.30. Following the completion of the sale, the insider owned 4,801 shares in the company, valued at C$251,140.31. This trade represents a 37.90% decrease in their position. Also, insider Ernest Chan sold 521 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of C$55.09, for a total value of C$28,701.89. Following the sale, the insider directly owned 11,003 shares of the company’s stock, valued at C$606,155.27. This represents a 4.52% decrease in their ownership of the stock. Over the last ninety days, insiders have sold 23,451 shares of company stock valued at $1,177,370. 0.82% of the stock is currently owned by corporate insiders.
Aecon Group Company Profile
Aecon Group Inc is a Canada-based company that operates in two segments: Construction and Concessions. The Construction segment includes various aspects of the construction of public and private infrastructure projects, mainly in the transportation sector. Its concessions segment is engaged in the development, financing, construction, and operation of infrastructure projects. Aecon generates the majority of its revenue from the Construction segment.
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