TD Securities Lowers Aecon Group (TSE:ARE) Price Target to C$30.00

Aecon Group (TSE:ARE) had its price objective decreased by equities researchers at TD Securities from C$35.00 to C$30.00 in a report issued on Friday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. TD Securities’ target price suggests a potential upside of 64.56% from the stock’s previous close.

A number of other equities analysts have also weighed in on the company. BMO Capital Markets upped their price objective on Aecon Group from C$27.00 to C$29.00 in a research note on Friday, December 6th. National Bankshares cut shares of Aecon Group from an “outperform” rating to a “sector perform” rating and lifted their price objective for the company from C$28.00 to C$30.00 in a research report on Wednesday, December 4th. Desjardins dropped their price objective on shares of 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 downgraded Aecon Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. Finally, CIBC lowered their target price on Aecon Group from C$35.00 to C$33.00 in a research report on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$24.98.

Aecon Group Price Performance

Shares of ARE traded down C$0.46 during mid-day trading on Friday, reaching C$18.23. The stock had a trading volume of 977,458 shares, compared to its average volume of 420,637. The firm has a market cap of C$1.15 billion, a price-to-earnings ratio of -17.93, a PEG ratio of 18.18 and a beta of 1.13. Aecon Group has a 12 month low of C$13.03 and a 12 month high of C$29.70. The business has a fifty day moving average of C$24.38 and a 200 day moving average of C$23.88. The company has a debt-to-equity ratio of 32.84, a quick ratio of 1.27 and a current ratio of 1.19.

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.