TD Securities Cuts Aecon Group (TSE:ARE) Price Target to C$20.00

Aecon Group (TSE:ARE) had its price target cut by TD Securities from C$23.00 to C$20.00 in a research note issued to investors on Friday morning,BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other equities research analysts also recently issued reports on ARE. National Bankshares upgraded shares of Aecon Group from a “sector perform” rating to an “outperform” rating in a research report on Monday, March 10th. National Bank Financial upgraded Aecon Group from a “hold” rating to a “strong-buy” rating in a report on Sunday, March 9th. Stifel Canada upgraded Aecon Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 17th. CIBC cut their price target on Aecon Group from C$31.00 to C$24.00 in a research note on Friday. Finally, Desjardins lowered their price target on Aecon Group from C$32.00 to C$29.00 and set a “buy” rating for the company in a research note on Friday, March 7th. Two research 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 company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$23.10.

Aecon Group Price Performance

Shares of ARE opened at C$15.40 on Friday. The business’s 50-day moving average is C$18.52 and its 200-day moving average is C$23.30. The company has a debt-to-equity ratio of 32.84, a current ratio of 1.19 and a quick ratio of 1.27. The company has a market capitalization of C$974.29 million, a price-to-earnings ratio of -15.15, a P/E/G ratio of 18.18 and a beta of 1.13. Aecon Group has a fifty-two week low of C$13.03 and a fifty-two week high of C$29.70.

Aecon Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, April 2nd were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, March 21st. This represents a $0.76 annualized dividend and a yield of 4.94%. Aecon Group’s dividend payout ratio (DPR) is presently -74.76%.

Insider Transactions at Aecon Group

In other news, Director Stuart Lee bought 5,700 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were acquired at an average cost of C$18.35 per share, for a total transaction of C$104,595.00. 0.82% of the stock is owned by corporate insiders.

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.