National Bankshares Lowers Aecon Group (TSE:ARE) Price Target to C$23.00

Aecon Group (TSE:ARE) had its target price lowered by equities research analysts at National Bankshares from C$30.00 to C$23.00 in a report released on Friday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. National Bankshares’ price objective indicates a potential upside of 26.17% from the stock’s previous close.

Several other research firms also recently commented on ARE. BMO Capital Markets dropped their price objective on Aecon Group from C$29.00 to C$24.00 in a research note on Friday. TD Securities decreased their price objective on Aecon Group from C$35.00 to C$30.00 and set a “buy” rating for the company in a report on Friday. Raymond James dropped their price objective on shares of Aecon Group from C$28.00 to C$23.00 and set a “market perform” rating on the stock in a report on Friday. Stifel Nicolaus downgraded Aecon Group from a “buy” rating to a “hold” rating and cut their target price for the stock from C$31.00 to C$19.00 in a research note on Friday. Finally, National Bank Financial cut shares of Aecon Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. Seven investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$24.98.

Aecon Group Stock Performance

ARE traded down C$0.46 during midday trading on Friday, reaching C$18.23. The company had a trading volume of 977,458 shares, compared to its average volume of 420,637. Aecon Group has a 12-month low of C$13.03 and a 12-month high of C$29.70. The business has a 50-day moving average price of C$24.38 and a two-hundred day moving average price of C$23.88. The stock has a market cap of C$1.15 billion, a PE ratio of -17.93, a P/E/G ratio of 18.18 and a beta of 1.13. The company has a debt-to-equity ratio of 32.84, a quick ratio of 1.27 and a current ratio of 1.19.

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.