BMO Capital Markets Cuts Aecon Group (TSE:ARE) Price Target to C$24.00

Aecon Group (TSE:ARE - Get Free Report) had its price objective decreased by BMO Capital Markets from C$29.00 to C$24.00 in a research note issued on Friday,BayStreet.CA reports. BMO Capital Markets' target price suggests a potential upside of 32.96% from the stock's previous close.

A number of other brokerages have also recently issued reports on ARE. TD Securities reduced their price objective on Aecon Group from C$35.00 to C$30.00 and set a "buy" rating for the company in a report on Friday. Desjardins reduced their price objective on Aecon Group from C$32.00 to C$29.00 and set a "buy" rating for the company in a report on Friday. National Bank Financial cut Aecon Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 3rd. National Bankshares cut 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 report on Wednesday, December 4th. Finally, CIBC reduced their price objective on Aecon Group from C$33.00 to C$30.00 in a report on Friday. Six investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Aecon Group has a consensus rating of "Moderate Buy" and a consensus target price of C$25.25.

Aecon Group Stock Performance

Shares of TSE:ARE traded up C$0.02 during trading on Friday, reaching C$18.05. 643,100 shares of the stock were exchanged, compared to its average volume of 445,845. Aecon Group has a 12 month low of C$13.03 and a 12 month high of C$29.70. The firm has a market cap of C$1.14 billion, a PE ratio of -17.76, a PEG ratio of 18.18 and a beta of 1.13. The stock has a 50-day moving average price of C$24.01 and a 200-day moving average price of C$23.93. The company has a current ratio of 1.19, a quick ratio of 1.27 and a debt-to-equity ratio of 32.84.

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Insider Buying and Selling at Aecon Group

In other news, Director Stuart Lee acquired 5,700 shares of the stock in a transaction on Monday, March 10th. The stock was acquired at an average cost of C$18.35 per share, for a total transaction of C$104,595.00. Company insiders own 0.82% of the company's stock.

Aecon Group Company Profile

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.