CIBC Cuts Aecon Group (TSE:ARE) Price Target to C$24.00

Aecon Group (TSE:ARE) had its price target cut by CIBC from C$31.00 to C$24.00 in a research note published on Friday,BayStreet.CA reports.

Other equities research analysts have also recently issued reports about the stock. Desjardins lowered 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 research report on Friday, March 7th. Raymond James raised shares of Aecon Group from a “market perform” rating to an “outperform” rating and set a C$23.00 target price on the stock in a research report on Tuesday, April 22nd. National Bank Financial raised shares of Aecon Group from a “hold” rating to a “strong-buy” rating in a research report on Sunday, March 9th. National Bankshares upgraded shares of Aecon Group from a “sector perform” rating to an “outperform” rating in a research note on Monday, March 10th. Finally, Royal Bank of Canada reduced their price objective on shares of Aecon Group from C$18.00 to C$17.00 in a research note on Friday. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of C$23.10.

Aecon Group Stock Performance

ARE stock opened at C$15.40 on Friday. The firm has a market cap of C$974.29 million, a price-to-earnings ratio of -15.15, a PEG ratio of 18.18 and a beta of 1.13. Aecon Group has a twelve month low of C$13.03 and a twelve month high of C$29.70. The company has a quick ratio of 1.27, a current ratio of 1.19 and a debt-to-equity ratio of 32.84. The business’s fifty day simple moving average is C$18.52 and its two-hundred day simple moving average is C$23.30.

Aecon Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, April 2nd were given a $0.19 dividend. The ex-dividend date was Friday, March 21st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.94%. Aecon Group’s payout ratio is -74.76%.

Insider Buying and Selling

In other Aecon Group news, Director Stuart Lee purchased 5,700 shares of the stock in a transaction on Monday, March 10th. The stock was acquired at an average price of C$18.35 per share, with a total value of C$104,595.00. 0.82% of the stock is owned by company insiders.

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.