Aecon Group (TSE:ARE) Hits New 52-Week High – Still a Buy?

Aecon Group Inc. (TSE:ARE)’s share price reached a new 52-week high on Monday . The stock traded as high as C$29.70 and last traded at C$29.52, with a volume of 57288 shares. The stock had previously closed at C$29.16.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. TD Securities upgraded Aecon Group from a “hold” rating to a “buy” rating and upped their price objective for the company from C$23.00 to C$35.00 in a research report on Monday, November 4th. ATB Capital lifted their target price on shares of Aecon Group from C$21.00 to C$29.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. BMO Capital Markets increased their price target on Aecon Group from C$16.50 to C$27.00 in a research note on Monday, November 4th. Raymond James lifted their price objective on Aecon Group from C$24.00 to C$28.00 in a research report on Tuesday, November 5th. Finally, Stifel Nicolaus increased their target price on Aecon Group from C$30.00 to C$31.00 in a research report on Friday, October 4th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$25.94.

Aecon Group Stock Down 3.0 %

The stock has a fifty day moving average price of C$24.15 and a 200-day moving average price of C$19.29. The firm has a market cap of C$1.79 billion, a PE ratio of -109.41, a PEG ratio of 18.18 and a beta of 1.13. The company has a debt-to-equity ratio of 32.86, a quick ratio of 1.27 and a current ratio of 1.35.

Aecon Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Wednesday, October 2nd were given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend was Friday, September 20th. Aecon Group’s payout ratio is currently -281.48%.

Aecon Group Company Profile

Aecon Group Inc, together with its subsidiaries, provide construction and infrastructure development services to private and public sector clients in Canada, the United States, and internationally. It operates through two segments, Construction and Concessions. The Construction segment focuses on civil infrastructure, urban transportation solutions, nuclear power infrastructure, utility infrastructure, and conventional industrial infrastructure market sectors.