RBC Capital Sticks to Its Hold Rating for Aecon Group Inc. (ARE)
In a report released yesterday, Sabahat Khan from RBC Capital maintained a Hold rating on Aecon Group Inc., with a price target of C$41.00. The company’s shares closed yesterday at C$40.78.
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Khan covers the Industrials sector, focusing on stocks such as WSP Global, Caterpillar, and Aecom Technology. According to TipRanks, Khan has an average return of 8.4% and a 56.31% success rate on recommended stocks.
In addition to RBC Capital, Aecon Group Inc. also received a Hold from ATB Cormark Capital Markets’s Chris Murray in a report issued yesterday. However, on the same day, Canaccord Genuity maintained a Buy rating on Aecon Group Inc. (TSX: ARE).
Based on Aecon Group Inc.’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of C$1.54 billion and a net profit of C$20.7 million. In comparison, last year the company earned a revenue of C$1.27 billion and had a net profit of C$14.03 million
Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ARE in relation to earlier this year.
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- Aecon Group price target raised to C$38.75 from C$34.25 at Stifel
- Aecon Group price target raised to C$52 from C$40 at Canaccord
- Aecon Utilities Buys Duna Services and Stake in KNX to Boost U.S. Power Infrastructure Business
- Aecon Group acquires Duna Services, KNX interest for base purchase price of $60M
- Aecon Group Inc. Signals Strong Turnaround in Earnings Call
