Aecon Group (TSE:ARE) Price Target Cut to C$24.00 by Analysts at BMO Capital Markets

Aecon Group (TSE:ARE) had its price target lowered by investment analysts at BMO Capital Markets from C$29.00 to C$24.00 in a research note issued on Friday,BayStreet.CA reports. BMO Capital Markets’ target price indicates a potential upside of 31.65% from the company’s previous close.

ARE has been the subject of a number of other reports. National Bankshares downgraded shares of Aecon Group from an “outperform” rating to a “sector perform” rating and lifted their price target for the stock from C$28.00 to C$30.00 in a report on Wednesday, December 4th. CIBC lowered their target price on shares of Aecon Group from C$33.00 to C$30.00 in a research note on Friday. Desjardins reduced their price target on Aecon Group from C$32.00 to C$29.00 and set a “buy” rating on the stock in a research note on Friday. National Bank Financial downgraded Aecon Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. Finally, TD Securities reduced their target price on Aecon Group from C$35.00 to C$30.00 and set a “buy” rating on the stock in a research report on Friday. Seven investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$24.98.

Aecon Group Price Performance

Shares of TSE:ARE traded down C$0.46 on Friday, hitting C$18.23. The company had a trading volume of 977,458 shares, compared to its average volume of 420,637. The company has a market cap of C$1.15 billion, a PE ratio of -17.93, a PEG ratio of 18.18 and a beta of 1.13. The business has a 50 day moving average of C$24.38 and a 200 day moving average of C$23.88. Aecon Group has a 52-week low of C$13.03 and a 52-week high of C$29.70. The company has a current ratio of 1.19, a quick ratio of 1.27 and a debt-to-equity ratio of 32.84.

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.