Aecon Group (TSE:ARE) Stock Price Passes Above 200-Day Moving Average – Should You Sell?

Shares of Aecon Group Inc. (TSE:ARE) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$18.52 and traded as high as C$28.22. Aecon Group shares last traded at C$27.99, with a volume of 145,659 shares traded.

Analysts Set New Price Targets

Several research firms have recently weighed in on ARE. Raymond James increased their price target on Aecon Group from C$24.00 to C$28.00 in a report on Tuesday, November 5th. Canaccord Genuity Group boosted their price objective on shares of Aecon Group from C$28.00 to C$33.00 in a research report on Monday, November 4th. National Bankshares raised Aecon Group from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from C$17.00 to C$20.50 in a report on Monday, July 29th. Stifel Canada raised Aecon Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 25th. Finally, BMO Capital Markets upped their price target on Aecon Group from C$16.50 to C$27.00 in a research report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$25.94.

Aecon Group Stock Performance

The company has a quick ratio of 1.27, a current ratio of 1.35 and a debt-to-equity ratio of 32.86. The stock has a market cap of C$1.80 billion, a P/E ratio of -107.89, a PEG ratio of 18.18 and a beta of 1.13. The business has a 50 day moving average price of C$22.46 and a 200 day moving average price of C$18.59.

Aecon Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Wednesday, October 2nd were paid a dividend of $0.19 per share. The ex-dividend date was Friday, September 20th. This represents a $0.76 annualized dividend and a dividend yield of 2.63%. Aecon Group’s dividend payout ratio is currently -281.48%.

About Aecon Group

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.