Aecon Group (TSE:ARE) Cut to Hold at Stifel Nicolaus

Stifel Nicolaus lowered shares of Aecon Group (TSE:ARE - Free Report) from a buy rating to a hold rating in a research note released on Friday morning,BayStreet.CA reports. The firm currently has C$19.00 price target on the stock, down from their prior price target of C$31.00.

Other analysts have also recently issued research reports about the stock. National Bank Financial cut shares of Aecon Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 3rd. CIBC reduced their price objective on shares of Aecon Group from C$33.00 to C$30.00 in a research note on Friday. National Bankshares cut shares of Aecon Group from an "outperform" rating to a "sector perform" rating and boosted their price objective for the stock from C$28.00 to C$30.00 in a research note on Wednesday, December 4th. TD Securities reduced their price objective on shares of Aecon Group from C$35.00 to C$30.00 and set a "buy" rating on the stock in a research note on Friday. Finally, Desjardins reduced their price objective 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. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of C$25.25.

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Aecon Group Price Performance

Shares of TSE:ARE traded up C$0.02 during trading on Friday, hitting C$18.05. 643,100 shares of the company were exchanged, compared to its average volume of 445,845. The business's 50 day moving average is C$24.01 and its 200-day moving average is C$23.93. The company has a market capitalization of C$1.14 billion, a P/E ratio of -17.76, a price-to-earnings-growth 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. Aecon Group has a 1-year low of C$13.03 and a 1-year high of C$29.70.

Aecon Group Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Tuesday, December 24th. This represents a $0.76 dividend on an annualized basis and a yield of 4.21%. Aecon Group's dividend payout ratio (DPR) is currently -74.76%.

Insider Buying and Selling at Aecon Group

In other news, Director Stuart Lee purchased 5,700 shares of the business's stock in a transaction on Monday, March 10th. The shares were acquired at an average price of C$18.35 per share, with a total value of C$104,595.00. Insiders own 0.82% of the company's stock.

About Aecon Group

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.