Aecon Group (TSE:ARE) Trading 4.1% Higher – Time to Buy?

Aecon Group Inc. (TSE:ARE)’s share price traded up 4.1% during trading on Friday . The company traded as high as C$24.63 and last traded at C$24.14. 132,222 shares traded hands during trading, a decline of 54% from the average session volume of 286,386 shares. The stock had previously closed at C$23.19.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. ATB Capital upped their target price on shares of Aecon Group from C$21.00 to C$29.00 and gave the company an “outperform” rating in a report on Monday, September 16th. CIBC upped their price objective on shares of Aecon Group from C$22.00 to C$25.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Stifel Nicolaus raised their target price on shares of Aecon Group from C$30.00 to C$31.00 in a research report on Friday, October 4th. Royal Bank of Canada boosted their price target on Aecon Group from C$13.00 to C$17.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. Finally, Canaccord Genuity Group increased their price target on Aecon Group from C$25.00 to C$28.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Aecon Group presently has a consensus rating of “Moderate Buy” and an average target price of C$22.07.

Aecon Group Stock Up 18.7 %

The firm has a market capitalization of C$1.72 billion, a PE ratio of -101.93, a price-to-earnings-growth ratio of 18.18 and a beta of 1.13. The company has a current ratio of 1.35, a quick ratio of 1.27 and a debt-to-equity ratio of 32.86. The firm has a 50-day moving average of C$20.62 and a two-hundred day moving average of C$17.86.

Aecon Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Wednesday, October 2nd were issued a $0.19 dividend. The ex-dividend date of this dividend was Friday, September 20th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.76%. Aecon Group’s dividend payout ratio (DPR) is -281.48%.

Insider Activity

In other Aecon Group news, Senior Officer Timothy John Murphy bought 4,244 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was purchased at an average price of C$17.66 per share, with a total value of C$74,969.84. Corporate insiders own 0.82% of the company’s stock.

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.