Aecon Group Inc (ARE.TO) Buy, Sell or Hold

Aecon Group Inc (ARE.TO)

52.95

-0.03 (0.06%)

as of Nov 6, 2026, 9:00:00 pm Market Closed.

426 watching

DON'T BUY

Pretty good company but like a lot of construction companies, they tend to have boom, bust, boom, bust depending on certain projects that drive things. This is one that has its ups and downs and wouldn’t be one that he would own through the cycles. If he owned one, it would be Genivar (GNV-T).

PAST TOP PICK

(Top Pick Jan 29/2010, Down 25.79%) Still likes it. Picked up a lot of business. Stimulus companies took longer than then thought to get the contracts from stimulus packages. He is going to hang in. It will take longer.

TOP PICK

(Top Pick Dec 2/09, Down 31%) really bad timing. He is not giving up hope. He thought there would be more infrastructure spending. The ship is now righting itself. Feels really good about 2011. The market has punished them enough. Focusing on Transportation, power and oil sands, all three of which will show good growth going forward.

DON'T BUY

Trading at about 14-15 times earnings. Construction of commercial and government buildings is flat to marginally down. Transportation is marginally up. Oil sands is going up. Margins are about 2.5%-3%. Doesn’t see a lot of growth.

DON'T BUY

Canadian infrastructure. Missed their earnings last quarter. Stock has suffered quite a bit. Prefers global infrastructure. (See Top Picks.)

DON'T BUY

Infrastructure play. Investors are moving more up the risk curve and dumping infrastructure. He has a Short position on this one.

WAIT

Operates in 4 divisions. Challenges in their building division hurt them. This quarter had some problems in their Industrial area. Very large backlog but there is some margin pressure. Needs to see a couple of more quarters.

DON'T BUY

Because of a lack of execution, earnings where poor last quarter. Also seems to be squeezed on margins.

BUY

Has not worked out. Management could not translate backlog into margins. He’s hanging on. He bought today. It will pick up if they some higher margin projects.

WEAK BUY

A Fantastic company. An infrastructure play. They are all price premium. At the end of their stimulus packages but they have great backlogs. When stimulus dries up they will not have as many global orders as piers.

BUY

Infrastructure play. Construction and contracting, particularly in western Canada. Well managed with a decent balance sheet. Will be involved in the replacement of developed infrastructure as well as emerging-market infrastructure.

BUY

Trailed SNC. Aecon had some problems with its buildings group. But they have record levels of backlogs. In his view this makes it a good time to buy it.

BUY

Probably undervalued. NAV is around $18 so the stock should be trading at $15-$16. Has a record backlog giving it 2-3 years of growth.

BUY

Has been one of his top picks, but disappointing valuation. Buy more at this price. Things will turn around next year.

WAIT

No longer dirt-cheap. Growing their top line and bought into Churchill. Well run. While they pick up a lot of top-line he would like to see more bottom-line growth. Well positioned for the economy while it turns around.

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Aecon Group Inc (ARE.TO)