Raymond James Issues Pessimistic Forecast for Aecon Group (TSE:ARE) Stock Price

Aecon Group (TSE:ARE) had its price target decreased 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 brokerage presently has a “market perform” rating on the stock. Raymond James’ price objective points to a potential upside of 26.17% from the stock’s current price.

ARE has been the subject of several other research reports. National Bank Financial cut shares of Aecon Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. TD Securities decreased their price target on Aecon Group from C$35.00 to C$30.00 and set a “buy” rating on the stock in a research note on Friday. Stifel Nicolaus cut Aecon Group from a “buy” rating to a “hold” rating and dropped their price objective for the company from C$31.00 to C$19.00 in a research note on Friday. Desjardins decreased their target price 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. Finally, CIBC lowered their target price on Aecon Group from C$33.00 to C$30.00 in a report on Friday. Seven equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$24.98.

Aecon Group Trading Down 2.5 %

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 fifty-two week low of C$13.03 and a fifty-two week high of C$29.70. The stock has a market capitalization of C$1.15 billion, a P/E ratio of -17.93, a price-to-earnings-growth ratio of 18.18 and a beta of 1.13. The business’s fifty day moving average price is C$24.38 and its 200 day moving average price is C$23.88. 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.