Stifel Canada cut shares of Aecon Group (TSE:ARE - Free Report) from a strong-buy rating to a hold rating in a report published on Thursday,Zacks.com reports.
Several other equities research analysts have also recently issued reports on the company. National Bankshares lowered their price objective on Aecon Group from C$30.00 to C$23.00 and set a "sector perform" rating on the stock in a report on Friday, March 7th. BMO Capital Markets reduced their price objective on Aecon Group from C$29.00 to C$24.00 in a research note on Friday, March 7th. Desjardins lowered their target price on shares of Aecon Group from C$32.00 to C$29.00 and set a "buy" rating on the stock in a research note on Friday, March 7th. CIBC reduced their target price on shares of Aecon Group from C$33.00 to C$30.00 in a research report on Friday, March 7th. Finally, Stifel Nicolaus lowered shares of Aecon Group from a "buy" rating to a "hold" rating and lowered their price target for the stock from C$31.00 to C$19.00 in a research report on Friday, March 7th. Six investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of C$25.25.
View Our Latest Report on Aecon Group
Aecon Group Price Performance
Shares of ARE stock traded down C$0.33 during trading hours on Thursday, hitting C$17.72. 663,751 shares of the company's stock were exchanged, compared to its average volume of 445,885. Aecon Group has a fifty-two week low of C$13.03 and a fifty-two week high of C$29.70. The firm has a market cap of C$1.12 billion, a P/E ratio of -17.43, 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 1.19 and a debt-to-equity ratio of 32.84. The firm has a 50 day moving average of C$23.83 and a two-hundred day moving average of C$23.93.
Aecon Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, January 3rd were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 4.29%. The ex-dividend date of this dividend was Tuesday, December 24th. Aecon Group's payout ratio is currently -74.76%.
Insiders Place Their Bets
In other Aecon Group news, Director Stuart Lee acquired 5,700 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were purchased at an average price of C$18.35 per share, with a total value of C$104,595.00. 0.82% of the stock is owned by insiders.
About Aecon Group
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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.
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