The Industrial Goods sector company, Aecon Group Inc. (ARE – Research Report), has received a rating update from a Wall Street analyst today. Raymond James’ analyst Frederic Bastien downgraded ARE to Hold , with a C$14.00 price target.
Bastien has an average return of 0.2% when recommending Aecon Group Inc..
According to TipRanks.com, Bastien is ranked #245 out of 8565 analysts.
Aecon Group Inc. has an analyst consensus of Moderate Buy, with a price target consensus of C$13.61, implying a 51.2% upside from current levels. In a report issued on October 24, Stifel Nicolaus also maintained a Hold rating on the stock with a C$12.00 price target.
Based on Aecon Group Inc.’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of C$1.17 billion and net profit of C$28.21 million. In comparison, last year the company earned revenue of C$1.12 billion and had a GAAP net loss of C$9.09 million.
Aecon Group Inc is a Canada-based company that operates in two major 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 primarily engaged in the development, financing, construction, and operation of infrastructure projects. Aecon generates the majority of its revenue from the Construction segment.
The company’s shares closed last Thursday at C$9.26.
