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

Aecon Group (TSE:ARE) had its target price cut by investment analysts at CIBC from C$35.00 to C$33.00 in a note issued to investors on Monday,BayStreet.CA reports. CIBC’s price target would indicate a potential upside of 38.95% from the company’s current price.

ARE has been the topic of a number of other research reports. National Bankshares lowered Aecon Group from an “outperform” rating to a “sector perform” rating and upped their price objective for the stock from C$28.00 to C$30.00 in a report on Wednesday, December 4th. Raymond James boosted their target price on Aecon Group from C$24.00 to C$28.00 in a research report on Tuesday, November 5th. 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. BMO Capital Markets boosted their target price on Aecon Group from C$27.00 to C$29.00 in a research report on Friday, December 6th. Finally, National Bank Financial downgraded Aecon Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. Six 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 data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$27.35.

Aecon Group Price Performance

ARE stock traded down C$0.21 on Monday, reaching C$23.75. 279,104 shares of the company’s stock were exchanged, compared to its average volume of 398,154. The stock has a fifty day moving average of C$26.55 and a 200-day moving average of C$22.68. Aecon Group has a twelve month low of C$13.03 and a twelve month high of C$29.70. The firm has a market cap of C$1.48 billion, a PE ratio of -87.96, a P/E/G ratio of 18.18 and a beta of 1.13. The company has a quick ratio of 1.27, a current ratio of 1.35 and a debt-to-equity ratio of 32.86.

Aecon Group (TSE:ARE) last announced its quarterly earnings data on Thursday, October 31st. The company reported C$0.86 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.78 by C$0.08. Aecon Group had a return on equity of 1.40% and a net margin of 0.32%. During the same quarter last year, the firm earned $0.33 EPS. As a group, equities analysts predict that Aecon Group will post 1.3793321 EPS for the current fiscal year.

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.