Royal Bank of Canada Cuts Aecon Group (TSE:ARE) Price Target to C$17.00

Aecon Group (TSE:ARE) had its target price cut by Royal Bank of Canada from C$18.00 to C$17.00 in a report released on Friday morning,BayStreet.CA reports.

Several other research analysts also recently commented on the company. Raymond James upgraded Aecon Group from a “market perform” rating to an “outperform” rating and set a C$23.00 price objective on the stock in a report on Tuesday, April 22nd. CIBC lifted their price target on Aecon Group from C$30.00 to C$31.00 in a research note on Thursday, April 17th. Stifel Nicolaus lowered their price objective on Aecon Group from C$16.00 to C$14.00 in a research report on Friday. TD Securities cut their target price on shares of Aecon Group from C$35.00 to C$30.00 and set a “buy” rating on the stock in a report on Friday, March 7th. Finally, National Bank Financial upgraded shares of Aecon Group from a “hold” rating to a “strong-buy” rating in a report on Sunday, March 9th. Two investment 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. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of C$23.10.

Aecon Group Price Performance

ARE stock opened at C$15.40 on Friday. The firm has a market cap of C$974.29 million, a P/E ratio of -15.15, a P/E/G ratio of 18.18 and a beta of 1.13. The firm’s fifty day moving average is C$18.52 and its 200 day moving average is C$23.30. Aecon Group has a 52 week low of C$13.03 and a 52 week high of C$29.70. 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 Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 4.94%. Aecon Group’s dividend payout ratio is -74.76%.

Insider Activity

In other news, Director Stuart Lee bought 5,700 shares of the stock in a transaction dated Monday, March 10th. The stock was bought at an average price of C$18.35 per share, for a total transaction 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.