Aecon Group (TSE:ARE) Reaches New 52-Week High Following Analyst Upgrade

Aecon Group Inc. (TSE:ARE - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday after Raymond James raised their price target on the stock from C$24.00 to C$28.00. The stock traded as high as C$28.86 and last traded at C$28.72, with a volume of 6889 shares trading hands. The stock had previously closed at C$28.60.

A number of other analysts have also recently weighed in on ARE. National Bankshares upgraded Aecon Group from a "sector perform" rating to an "outperform" rating and raised their price target for the company from C$17.00 to C$20.50 in a research note on Monday, July 29th. ATB Capital boosted their target price on Aecon Group from C$21.00 to C$29.00 and gave the stock an "outperform" rating in a research note on Monday, September 16th. TD Securities upgraded shares of Aecon Group from a "hold" rating to a "buy" rating and increased their price target for the company from C$23.00 to C$35.00 in a research note on Monday. BMO Capital Markets boosted their price objective on shares of Aecon Group from C$16.50 to C$27.00 in a research report on Monday. Finally, Stifel Nicolaus increased their target price on shares of Aecon Group from C$30.00 to C$31.00 in a research report on Friday, October 4th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of C$25.94.

Insider Transactions at Aecon Group

In related news, Senior Officer Timothy John Murphy acquired 4,244 shares of Aecon Group stock in a transaction on Thursday, August 8th. The stock was purchased at an average cost of C$17.66 per share, with a total value of C$74,969.84. Insiders own 0.82% of the company's stock.

Aecon Group Price Performance

The company has a market cap of C$1.80 billion, a price-to-earnings ratio of -105.93, a PEG ratio of 18.18 and a beta of 1.13. The company has a 50-day simple moving average of C$21.05 and a 200-day simple moving average of C$18.03. The company has a debt-to-equity ratio of 32.86, a quick ratio of 1.27 and a current ratio of 1.35.

Aecon Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Wednesday, October 2nd were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, September 20th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.63%. Aecon Group's dividend payout ratio (DPR) is presently -281.48%.

Aecon Group Company Profile

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.