CIBC Forecasts Strong Price Appreciation for Aecon Group (TSE:ARE) Stock

Aecon Group (TSE:ARE) had its price objective upped by analysts at CIBC from C$29.00 to C$35.00 in a research note issued on Friday,BayStreet.CA reports. CIBC’s price target indicates a potential upside of 28.63% from the company’s previous close.

ARE has been the subject of several other reports. ATB Capital upped their price objective on shares of Aecon Group from C$21.00 to C$29.00 and gave the company an “outperform” rating in a research note on Monday, September 16th. National Bankshares downgraded shares of Aecon Group from an “outperform” rating to a “sector perform” rating and upped their price objective for the company from C$28.00 to C$30.00 in a research note on Wednesday, December 4th. National Bank Financial downgraded shares of Aecon Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. TD Securities upgraded shares of Aecon Group from a “hold” rating to a “buy” rating and boosted their price target for the company from C$23.00 to C$35.00 in a research report on Monday, November 4th. Finally, Raymond James boosted their price target on shares of Aecon Group from C$24.00 to C$28.00 in a research report on Tuesday, November 5th. Six analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$27.53.

Aecon Group Trading Up 1.7 %

Aecon Group stock traded up C$0.45 during mid-day trading on Friday, hitting C$27.21. The company’s stock had a trading volume of 146,156 shares, compared to its average volume of 295,339. The company has a debt-to-equity ratio of 32.86, a current ratio of 1.35 and a quick ratio of 1.27. The stock has a market cap of C$1.70 billion, a price-to-earnings ratio of -100.30, a price-to-earnings-growth ratio of 18.18 and a beta of 1.13. The business has a 50 day moving average price of C$25.98 and a 200-day moving average price of C$20.19. Aecon Group has a 12 month low of C$11.75 and a 12 month high of C$29.70.

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.