Aecon Group (ARE) Raised to Buy at Industrial Alliance Securities

Industrial Alliance Securities upgraded shares of Aecon Group (TSE:ARE) from a hold rating to a buy rating in a report released on Friday. The brokerage currently has C$18.00 price target on the stock, up from their previous price target of C$17.50.

A number of other analysts also recently weighed in on ARE. Desjardins reissued a buy rating on shares of Aecon Group in a research report on Thursday, May 24th. National Bank Financial raised shares of Aecon Group from a tender rating to an outperform rating and decreased their target price for the company from C$20.37 to C$17.50 in a research report on Friday, May 25th. Raymond James raised shares of Aecon Group from an outperform rating to a strong-buy rating and set a C$20.50 target price for the company in a research report on Wednesday, June 13th. CIBC decreased their target price on shares of Aecon Group from C$20.37 to C$20.00 in a research report on Thursday, May 24th. Finally, Royal Bank of Canada decreased their target price on shares of Aecon Group from C$20.00 to C$17.00 and set a sector perform rating for the company in a research report on Thursday, May 24th. One analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Aecon Group currently has a consensus rating of Buy and a consensus target price of C$19.65.

Aecon Group stock opened at C$15.71 on Friday. Aecon Group has a 1 year low of C$14.13 and a 1 year high of C$20.06.

Aecon Group (TSE:ARE) last released its quarterly earnings data on Wednesday, April 25th. The company reported C($0.32) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C($0.12) by C($0.20). The firm had revenue of C$543.33 million during the quarter, compared to analyst estimates of C$732.40 million. Aecon Group had a net margin of 3.24% and a return on equity of 13.31%.

Aecon Group Company Profile

Aecon Group Inc provides construction and infrastructure development services to private and public sector clients in Canada, the United States, and internationally. It operates through four segments: Infrastructure, Energy, Mining, and Concessions. The Infrastructure segment is involved in the construction of roads and bridges, and rail and transit systems, as well as in asphalt production and aggregates, municipal construction, commercial site design, and material engineering and design activities.

Analyst Recommendations for Aecon Group (TSE:ARE)

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