Aecon Group (TSE:ARE) Stock Crosses Above 200 Day Moving Average – What’s Next?

Shares of Aecon Group Inc. (TSE:ARE – Get Free Report) crossed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of C$47.30 and traded as high as C$53.61. Aecon Group shares last traded at C$53.56, with a volume of 289,311 shares changing hands.

Analyst Upgrades and Downgrades

ARE has been the topic of several research reports. Stifel Nicolaus raised Aecon Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from C$46.00 to C$54.00 in a research report on Friday, June 26th. National Bank Financial lifted their price objective on shares of Aecon Group from C$59.00 to C$65.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Desjardins raised their target price on shares of Aecon Group from C$55.00 to C$61.00 and gave the stock a “hold” rating in a research note on Monday, July 6th. TD cut their target price on Aecon Group from C$62.00 to C$61.00 and set a “buy” rating on the stock in a research report on Friday, June 26th. Finally, Raymond James Financial upgraded Aecon Group from a “hold” rating to a “moderate buy” rating and increased their target price for the company from C$52.00 to C$60.00 in a report on Friday, July 3rd. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$55.08.

Get Our Latest Report on Aecon Group

Aecon Group Trading Up 2.4%

The company’s 50-day moving average is C$47.99 and its 200-day moving average is C$47.30. The firm has a market cap of C$3.67 billion, a price-to-earnings ratio of -56.38, a P/E/G ratio of 18.18 and a beta of 1.16. The company has a debt-to-equity ratio of 84.23, a quick ratio of 1.27 and a current ratio of 1.08.

Aecon Group (TSE:ARE – Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported C$0.33 earnings per share (EPS) for the quarter. The business had revenue of C$1.63 billion during the quarter. Aecon Group had a negative return on equity of 6.76% and a negative net margin of 1.10%. On average, research analysts predict that Aecon Group Inc. will post 1.38 earnings per share for the current year.

Aecon Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, October 2nd were issued a $0.1925 dividend. This represents a $0.77 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Tuesday, September 22nd. Aecon Group’s dividend payout ratio is currently -80.53%.

Insiders Place Their Bets

In other news, insider Steven Neil Nackan sold 4,500 shares of the business’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of C$45.55, for a total transaction of C$204,975.00. Following the completion of the transaction, the insider directly owned 8,035 shares in the company, valued at C$365,994.25. The trade was a 35.90% decrease in their position. Also, Director Scott Stewart purchased 4,455 shares of the stock in a transaction on Friday, August 28th. The stock was acquired at an average cost of C$44.89 per share, with a total value of C$199,984.95. Following the completion of the purchase, the director directly owned 24,484 shares of the company’s stock, valued at C$1,099,086.76. The trade was a 22.24% increase in their ownership of the stock. Over the last quarter, insiders have sold 7,500 shares of company stock worth $343,875. 0.82% of the stock is currently owned by corporate insiders.

Aecon Group Company Profile

(Get Free Report)

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.

Further Reading

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