Raymond James Lowers Aecon Group (TSE:ARE) Price Target to C$23.00

Aecon Group (TSE:ARE) had its target price lowered by analysts at Raymond James from C$28.00 to C$23.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm currently has a “market perform” rating on the stock. Raymond James’ price target would indicate a potential upside of 26.17% from the company’s previous close.

Several other equities analysts have also recently issued reports on ARE. Desjardins reduced their price objective on Aecon Group from C$32.00 to C$29.00 and set a “buy” rating for the company in a report on Friday. TD Securities cut their price target on Aecon Group from C$35.00 to C$30.00 and set a “buy” rating for the company in a research note on Friday. BMO Capital Markets lowered their price objective on shares of Aecon Group from C$29.00 to C$24.00 in a research note on Friday. National Bank Financial cut shares of Aecon Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. Finally, Stifel Nicolaus lowered shares of Aecon Group from a “buy” rating to a “hold” rating and lowered their price target for the company from C$31.00 to C$19.00 in a research report on Friday. Seven research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of C$24.98.

Aecon Group Price Performance

Shares of TSE:ARE traded down C$0.46 on Friday, reaching C$18.23. 977,458 shares of the company were exchanged, compared to its average volume of 420,637. Aecon Group has a 1-year low of C$13.03 and a 1-year 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. The firm has a market cap of C$1.15 billion, a price-to-earnings ratio of -17.93, a price-to-earnings-growth ratio of 18.18 and a beta of 1.13. The company has a 50-day moving average of C$24.38 and a 200-day moving average of C$23.88.

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.