Insider Buying: Aecon Group Inc. (TSE:ARE) Director Acquires C$104,595.00 in Stock

Aecon Group Inc. (TSE:ARE) Director Stuart Lee purchased 5,700 shares of the business’s stock in a transaction on Monday, March 10th. The shares were bought at an average cost of C$18.35 per share, with a total value of C$104,595.00.

Aecon Group Price Performance

Shares of Aecon Group stock opened at C$17.72 on Thursday. The stock has a 50 day moving average of C$23.83 and a 200 day moving average of C$23.93. Aecon Group Inc. has a 12 month low of C$13.03 and a 12 month high of C$29.70. The firm has a market cap of C$1.12 billion, a PE ratio of -17.43, a PEG ratio of 18.18 and a beta of 1.13. 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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, January 3rd were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date of this dividend was Tuesday, December 24th. Aecon Group’s payout ratio is presently -74.76%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Stifel Canada lowered Aecon Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 6th. Stifel Nicolaus lowered Aecon Group from a “buy” rating to a “hold” rating and cut their price target for the company from C$31.00 to C$19.00 in a report on Friday, March 7th. CIBC cut their price target on Aecon Group from C$33.00 to C$30.00 in a report on Friday, March 7th. Desjardins dropped their price objective on Aecon Group from C$32.00 to C$29.00 and set a “buy” rating for the company in a research note on Friday, March 7th. Finally, Royal Bank of Canada dropped their price objective on Aecon Group from C$27.00 to C$20.00 in a research note on Monday. Six analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$25.25.

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.