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

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Aecon Group Inc (ARE.TO)

43.58

-0.07 (0.16%)

as of Jun 18, 2026, 4:54:23 pm Market Open.

427 watching

Investor Insights

Jun 18, 2026, 12:00 am

This summary was created by AI, based on 20 opinions in the last 12 months.

Aecon Group Inc (ARE-T) is currently navigating a landscape shaped by significant infrastructure investment in Canada, reflected in a record backlog of $10.9 billion. Despite strong revenue growth of 18% last quarter, experts advise caution due to prevailing market volatility and concerns over cost overruns from legacy fixed-price contracts. Many analysts highlight the company's shift towards more sustainable fee-for-service contracts and variable pricing, which enhance cash flow predictability and earnings stability. With ongoing projects in nuclear power and increasing demand for infrastructure, Aecon is poised for potential growth, although some perceive the stock as overbought at its current levels. Overall, experts remain optimistic about its long-term prospects while acknowledging near-term market pressures and volatility.

Consensus

Hold

Valuation

Fair Value

Similar

WSP

COMMENT

Aecon Group (ARE-T) and SNC Lavalin (SNC-T) are both well positioned to take advantage substantially if there is going to be a huge amount of infrastructure spending. Aecon is not as internationally diversified and has more of the engineering side. Of these 2 he would prefer Aecon. (See Top Picks.)

BUY

For infrastructure plays, he would have Aecon Group (ARE-T) as #1 and SNC Lavalin (SNC-T) as #2. This one is more of a domestic infrastructure play.

WATCH

Fundamentally he likes this story. One area that is going to see a lot of money is government spending on infrastructure. This company's greatest customer is the government. Right now he is worried about the markets disassociation with fundamentals. If you like this space, he would rather see you go with SNC Lavalin (SNC-T) or Bombardier (BBD.B-T). Keep this one on the radar.

COMMENT

Significant amount of revenue that comes from civil infrastructure. Technically, the stock is not perfect but while the market was making a lower low, it made a higher low. Considering this one.

COMMENT

Infrastructure. His problem with the infrastructure argument is that it seems to come from the federal level. Other municipalities do not have the money right now. The federal money is not enough to move the needle on infrastructure companies. Too expensive for him but he is watching it.

TOP PICK

Engineering infrastructure stocks have been hit awfully hard. Trading at about 2 X operating cash flow and about 7 X earnings. Doesn't think a lot of the infrastructure programs are going to get cancelled.

COMMENT

SNC Lavalin (SNC-T) vs. Aecon Group (ARE-T). Infrastructure is going to be a pork barrel exercise. Governments are going to say that they have to do a stimulus package and will probably end up getting the lion's share to one company vs. another. Even though you got the theme right, you could pick the wrong horse.

BUY

Infrastructure. Great company. Should benefit in this current period. In times of recessions, governments start spending in order to keep jobs. Have been getting the contracts in the last few weeks.

WAIT

People like infrastructure because you get a lot of lead-time on the contracts. Risk is that contracts begin to get cancelled because of financing. Wait to see clear signs that the credit market is beginning to thaw.

BUY

Infrastructure is crumbling, so it is a place that has to get investment.

WAIT

Reported a ton of contracts in the last 6 months. Growing the business in engineering and construction. Waiting to buy but must be getting close.

TOP PICK

(His 3 picks include one each from industrials, gold and oil.) Found support around $14-$15 and has been trading at this level since January, building a base. Breakout level would be about $17. Once it get past that, it had upside potential of $25.

COMMENT

In the infrastructure group he looks at Aecon Group (ARE-T) SNC Lavalin (SNC-T) and Stantec (STN-T). From a valuation point of view, he prefers Stantec. Not selling at a bad multiple. Earnings were $1.15 last year and could be as much as $1.75 in 2 years. You're paying a fairly substantial multiple of book relative to Stantc. Trading at almost 3.5X BV.

COMMENT

Infrastructure business is going to get hammered as the North American economy slows down. Well thought of company. There were concerns on individual contracts. Doesn't know what to recommend.

BUY

Infrastructure has been ignored for too long and governments are starting to address this issue. A lot of money will be thrown at it over the next number of years. Companies that can be looked at would include SNC Lavalin (SNC-T), Aecon (ARE-T) and on a global basis Royal Boskalis on the Amsterdam exchange.

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