Aecon Group (TSE:ARE) Given New C$33.00 Price Target at Canaccord Genuity Group

Aecon Group (TSE:ARE) had its target price hoisted by Canaccord Genuity Group from C$28.00 to C$33.00 in a research note released on Monday, BayStreet.CA reports.

A number of other brokerages have also commented on ARE. Stifel Canada upgraded shares of Aecon Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 25th. ATB Capital increased their price target on Aecon Group from C$21.00 to C$29.00 and gave the company an “outperform” rating in a report on Monday, September 16th. Raymond James lifted their price objective on Aecon Group from C$16.00 to C$24.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. National Bank Financial raised Aecon Group from a “hold” rating to a “strong-buy” rating in a research report on Sunday, July 28th. Finally, Royal Bank of Canada upped their price target on shares of Aecon Group from C$13.00 to C$17.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Aecon Group has an average rating of “Moderate Buy” and a consensus target price of C$25.94.

Aecon Group Trading Up 3.9 %

TSE ARE opened at C$28.59 on Monday. The stock has a market cap of C$1.79 billion, a P/E ratio of -105.89, a PEG ratio of 18.18 and a beta of 1.13. The company’s fifty day simple moving average is C$20.83 and its 200-day simple moving average is C$17.95. The company has a current ratio of 1.35, a quick ratio of 1.27 and a debt-to-equity ratio of 32.86. Aecon Group has a 52 week low of C$10.30 and a 52 week high of C$28.63.

Aecon Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Wednesday, October 2nd were issued 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 2.66%. Aecon Group’s dividend payout ratio (DPR) is -281.48%.

Insider Transactions at Aecon Group

In other Aecon Group news, Senior Officer Timothy John Murphy acquired 4,244 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was acquired at an average price 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 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.