RBC Capital Sticks to Its Hold Rating for Aecon Group Inc. (ARE)
In a report released on June 22, Sabahat Khan from RBC Capital maintained a Hold rating on Aecon Group Inc., with a price target of C$49.00. The company’s shares closed yesterday at C$44.82.
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Khan covers the Industrials sector, focusing on stocks such as Aecon Group Inc., Jacobs Solutions, and AtkinsRealis. According to TipRanks, Khan has an average return of 6.0% and a 48.50% success rate on recommended stocks.
Currently, the analyst consensus on Aecon Group Inc. is a Moderate Buy with an average price target of C$52.67, which is a 17.51% upside from current levels. In a report released on June 10, CIBC also maintained a Hold rating on the stock with a C$52.00 price target.
Based on Aecon Group Inc.’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of C$1.26 billion and a GAAP net loss of C$17.92 million. In comparison, last year the company earned a revenue of C$1.06 billion and had a GAAP net loss of C$37.93 million
Based on the recent corporate insider activity of 45 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$62 from C$59 at TD Securities
- Aecon Group price target raised to C$52 from C$48 at CIBC
- Aecon Group price target raised to C$49 from C$44 at RBC Capital
- Aecon Group price target raised to C$56 from C$52 at Canaccord
- Aecon Group price target raised to C$46 from C$44.50 at Stifel
