Stifel Nicolaus Has Lowered Expectations for Aecon Group (TSE:ARE) Stock Price

Aecon Group (TSE:ARE) had its target price reduced by investment analysts at Stifel Nicolaus from C$19.00 to C$16.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would suggest a potential downside of 7.73% from the stock’s current price.

Several other research analysts have also recently weighed in on ARE. BMO Capital Markets reduced their price objective on Aecon Group from C$29.00 to C$24.00 in a research report on Friday, March 7th. TD Securities decreased their price target on shares of Aecon Group from C$35.00 to C$30.00 and set a “buy” rating for the company in a research note on Friday, March 7th. National Bank Financial upgraded shares of Aecon Group from a “hold” rating to a “strong-buy” rating in a report on Sunday, March 9th. Desjardins reduced their target price 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, March 7th. Finally, Raymond James lowered their price target on shares of Aecon Group from C$28.00 to C$23.00 and set a “market perform” rating on the stock in a research note on Friday, March 7th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$25.07.

Aecon Group Trading Up 0.8 %

ARE opened at C$17.34 on Thursday. The firm’s fifty day simple moving average is C$19.32 and its 200 day simple moving average is C$23.49. The stock has a market capitalization of C$1.10 billion, a P/E ratio of -17.06, a P/E/G ratio of 18.18 and a beta of 1.13. The company has a current ratio of 1.19, a quick ratio of 1.27 and a debt-to-equity ratio of 32.84. Aecon Group has a 12 month low of C$13.03 and a 12 month high of C$29.70.

Insider Activity

In related news, Director Stuart Lee acquired 5,700 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were bought at an average cost of C$18.35 per share, with a total value of C$104,595.00. Insiders own 0.82% of the company’s stock.

About Aecon Group

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.