Aecon Group (TSE:ARE) Shares Up 4.1% – Here’s What Happened

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on ARE shares. ATB Capital upped their target price on shares of Aecon Group from C$21.00 to C$29.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. Stifel Canada raised Aecon Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 25th. Raymond James lifted their target price on Aecon Group from C$16.00 to C$24.00 and gave the company a “market perform” rating in a research report on Wednesday. Stifel Nicolaus upped their price target on Aecon Group from C$30.00 to C$31.00 in a research report on Friday, October 4th. Finally, National Bank Financial upgraded shares of Aecon Group from a “hold” rating to a “strong-buy” rating in a report on Sunday, July 28th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$22.07.

Aecon Group Stock Performance

The company has a quick ratio of 1.27, a current ratio of 1.35 and a debt-to-equity ratio of 32.86. The stock’s fifty day moving average is C$20.32 and its two-hundred day moving average is C$17.75. The firm has a market capitalization of C$1.54 billion, a price-to-earnings ratio of -92.11, a P/E/G ratio of 18.18 and a beta of 1.13.

Aecon Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Wednesday, October 2nd were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, September 20th. This represents a $0.76 annualized dividend and a dividend yield of 3.08%. Aecon Group’s dividend payout ratio is presently -281.48%.

Insider Activity at Aecon Group

In other Aecon Group news, Senior Officer Timothy John Murphy bought 4,244 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were acquired at an average cost of C$17.66 per share, with a total value of C$74,969.84. 0.82% of the stock is currently owned by company insiders.

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.