Aecon Group (TSE:ARE) Stock Price Expected to Rise, CIBC Analyst Says

Aecon Group (TSE:ARE - Get Free Report) had its price target hoisted by research analysts at CIBC from C$29.00 to C$35.00 in a research note issued to investors on Friday,BayStreet.CA reports. CIBC's price objective indicates a potential upside of 29.49% from the stock's previous close.

Several other brokerages have also recently commented on ARE. BMO Capital Markets raised their price objective on shares of Aecon Group from C$27.00 to C$29.00 in a research note on Friday, December 6th. National Bankshares lowered Aecon Group from an "outperform" rating to a "sector perform" rating and boosted their price target for the stock from C$28.00 to C$30.00 in a research note on Wednesday, December 4th. ATB Capital raised their price objective on Aecon Group from C$21.00 to C$29.00 and gave the company an "outperform" rating in a research note on Monday, September 16th. TD Securities upgraded Aecon Group from a "hold" rating to a "buy" rating and boosted their target price for the stock from C$23.00 to C$35.00 in a research report on Monday, November 4th. Finally, Stifel Nicolaus raised their price target on Aecon Group from C$30.00 to C$31.00 in a research report on Friday, October 4th. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of C$27.53.

Aecon Group Price Performance

ARE stock traded up C$0.27 on Friday, reaching C$27.03. 321,491 shares of the company's stock were exchanged, compared to its average volume of 296,127. Aecon Group has a twelve month low of C$11.75 and a twelve month high of C$29.70. The company has a quick ratio of 1.27, a current ratio of 1.35 and a debt-to-equity ratio of 32.86. The stock has a fifty day moving average of C$26.10 and a 200-day moving average of C$20.26. The firm has a market cap of C$1.69 billion, a PE ratio of -100.11, a P/E/G ratio of 18.18 and a beta of 1.13.

About Aecon Group

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.