Royal Bank of Canada Issues Pessimistic Forecast for Aecon Group (TSE:ARE) Stock Price

Aecon Group (TSE:ARE) had its price objective lowered by Royal Bank of Canada from C$27.00 to C$20.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. Royal Bank of Canada’s price objective would suggest a potential upside of 9.41% from the company’s previous close.

Several other analysts also recently commented on ARE. TD Securities decreased their target price on shares of Aecon Group from C$35.00 to C$30.00 and set a “buy” rating for the company in a research report on Friday. Stifel Nicolaus downgraded shares of Aecon Group from a “buy” rating to a “hold” rating and decreased their target price for the stock from C$31.00 to C$19.00 in a research report on Friday. CIBC decreased their target price on shares of Aecon Group from C$33.00 to C$30.00 in a research report on Friday. National Bankshares decreased their target price on shares of Aecon Group from C$30.00 to C$23.00 and set a “sector perform” rating for the company in a research report 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 and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of C$25.25.

Aecon Group Stock Up 1.8 %

ARE traded up C$0.32 on Monday, reaching C$18.28. 622,039 shares of the company traded hands, compared to its average volume of 433,857. The stock’s 50 day moving average price is C$24.19 and its 200-day moving average price is C$23.92. Aecon Group has a 52-week low of C$13.03 and a 52-week high of C$29.70. The company has a market cap of C$1.16 billion, a price-to-earnings ratio of -17.98, a PEG ratio of 18.18 and a beta of 1.13. The company has a debt-to-equity ratio of 32.84, a current ratio of 1.19 and a quick ratio of 1.27.

Insider Activity

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

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.