The stock of Aecon Group Inc (TSE:ARE) gapped up by $0.04 today and has $28.96 target or 60.00% above today’s $18.10 share price. The 5 months technical chart setup indicates low risk for the $1.05 billion company. The gap was reported on Oct, 18 by Barchart.com. If the $28.96 price target is reached, the company will be worth $630.00M more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 111,776 shares traded hands. Aecon Group Inc (TSE:ARE) has risen 14.84% since March 11, 2016 and is uptrending. It has outperformed by 9.35% the S&P500.
Aecon Group Inc (TSE:ARE) Ratings Coverage
Out of 5 analysts covering Aecon Group Inc (TSE:ARE), 4 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 80% are positive. $20 is the highest target while $14.50 is the lowest. The $17.57 average target is -2.93% below today’s ($18.1) stock price. Aecon Group Inc has been the topic of 8 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The firm earned “Outperform” rating on Wednesday, July 29 by Scotia Capital. On Monday, May 2 the stock rating was downgraded by National Bank Canada to “Sector Perform”.
More notable recent Aecon Group Inc (TSE:ARE) news were published by: Business.Financialpost.com which released: “Aecon Group Inc downgraded, but it’s not all bad news” on November 26, 2015, also Business.Financialpost.com with their article: “Aecon Group Inc finally sells Quito airport stake, and at a good price” published on June 09, 2015, Fool.ca published: “Is it Time to Buy Aecon Group Inc.?” on March 04, 2016. More interesting news about Aecon Group Inc (TSE:ARE) were released by: Fool.ca and their article: “3 Reasons Why Aecon Group Inc. Is a Good Buy” published on August 12, 2015 as well as Wsj.com‘s news article titled: “SNC-Lavalin, Aecon to Refurbish Ontario Nuclear Plant” with publication date: January 11, 2016.
Aecon Group Inc. is a construction and infrastructure development company. The company has a market cap of $1.05 billion. The Firm operates through four divisions: Infrastructure, Energy, Mining and Concessions. It has a 23.47 P/E ratio. The Infrastructure segment includes all aspects of the construction of both public and private infrastructure in Canada, and on a selected basis, internationally.
ARE Company Profile
Alexandria Real Estate Equities, Inc., incorporated on October 27, 1994, is a real estate investment (REIT). The Firm is engaged in the business of providing office/laboratory and technology office space for lease to the science and technology industries. The Firm is focused on collaborative science and technology campuses. It develops urban cluster campuses and ecosystems. It has approximately 200 properties and its asset base consists of approximately 30 million square feet, including over 20.1 million rentable square feet/foot (RSF) of operating properties and development and redevelopment projects under construction or pre-construction, as well as approximately 11.9 million square feet of future ground-up development projects. These operating properties and development projects include approximately 10 properties under real estate joint venture arrangements, of which approximately eight properties are held by consolidated real estate joint ventures and over three properties are held by unconsolidated real estate joint ventures.
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