Aecon Group (TSE:ARE) Reaches New 1-Year High – Here’s Why

Aecon Group Inc. (TSE:ARE) shares reached a new 52-week high during trading on Thursday . The company traded as high as C$29.61 and last traded at C$29.37, with a volume of 184781 shares. The stock had previously closed at C$27.99.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ARE. National Bankshares upgraded Aecon Group from a “sector perform” rating to an “outperform” rating and raised their price target for the company from C$17.00 to C$20.50 in a research report on Monday, July 29th. CIBC increased their price objective on shares of Aecon Group from C$25.00 to C$29.00 in a research note on Monday, November 4th. BMO Capital Markets lifted their target price on shares of Aecon Group from C$16.50 to C$27.00 in a research report on Monday, November 4th. Stifel Nicolaus upped their price target on shares of Aecon Group from C$30.00 to C$31.00 in a report on Friday, October 4th. Finally, TD Securities raised shares of Aecon Group from a “hold” rating to a “buy” rating and raised their price objective for the stock from C$23.00 to C$35.00 in a research note on Monday, November 4th. Four research 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$25.94.

Aecon Group Price Performance

The company’s 50 day simple moving average is C$22.67 and its 200 day simple moving average is C$18.67. The company has a current ratio of 1.35, a quick ratio of 1.27 and a debt-to-equity ratio of 32.86. The stock has a market capitalization of C$1.80 billion, a PE ratio of -107.04, a PEG ratio of 18.18 and a beta of 1.13.

Aecon Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Wednesday, October 2nd were paid a $0.19 dividend. The ex-dividend date was Friday, September 20th. This represents a $0.76 annualized dividend and a yield of 2.63%. Aecon Group’s payout ratio is currently -281.48%.

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.