Aegion Corp (AEGN) Earns Buy Rating from Canaccord Genuity
Canaccord Genuity reaffirmed their buy rating on shares of Aegion Corp (NASDAQ:AEGN) in a research report released on Thursday morning. They currently have a $26.00 price objective on the construction company’s stock.
AEGN has been the subject of a number of other research reports. Hilliard Lyons lowered Aegion Corp from a buy rating to a neutral rating in a research note on Monday, May 1st. Craig Hallum upgraded Aegion Corp from a hold rating to a buy rating in a research note on Tuesday, May 23rd. Sidoti lowered Aegion Corp from a buy rating to a neutral rating in a research note on Tuesday, August 8th. TheStreet lowered Aegion Corp from a b rating to a c rating in a research note on Monday, June 5th. Finally, Zacks Investment Research upgraded Aegion Corp from a strong sell rating to a hold rating in a research note on Wednesday, May 10th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $23.17.
Aegion Corp (AEGN) opened at 20.42 on Thursday. Aegion Corp has a 12 month low of $17.18 and a 12 month high of $26.68. The stock’s 50 day moving average price is $22.25 and its 200-day moving average price is $22.02. The firm has a market capitalization of $644.21 million, a P/E ratio of 15.07 and a beta of 1.67.
Aegion Corp (NASDAQ:AEGN) last posted its earnings results on Tuesday, August 1st. The construction company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by $0.08. Aegion Corp had a net margin of 3.57% and a return on equity of 7.52%. The company had revenue of $354.47 million during the quarter, compared to analyst estimates of $351.51 million. During the same quarter last year, the business posted $0.23 EPS. Aegion Corp’s quarterly revenue was up 18.9% compared to the same quarter last year. On average, analysts forecast that Aegion Corp will post $1.19 earnings per share for the current year.
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Large investors have recently modified their holdings of the stock. Karp Capital Management Corp acquired a new stake in shares of Aegion Corp during the first quarter worth $592,000. Tudor Investment Corp ET AL raised its stake in shares of Aegion Corp by 16.0% in the first quarter. Tudor Investment Corp ET AL now owns 30,944 shares of the construction company’s stock worth $709,000 after buying an additional 4,279 shares during the period. BlackRock Inc. raised its stake in shares of Aegion Corp by 12,966.0% in the first quarter. BlackRock Inc. now owns 4,365,349 shares of the construction company’s stock worth $100,010,000 after buying an additional 4,331,939 shares during the period. Adams Diversified Equity Fund Inc. raised its stake in shares of Aegion Corp by 2.8% in the first quarter. Adams Diversified Equity Fund Inc. now owns 47,600 shares of the construction company’s stock worth $1,091,000 after buying an additional 1,300 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Aegion Corp during the first quarter worth $119,000. Hedge funds and other institutional investors own 88.00% of the company’s stock.
About Aegion Corp
Aegion Corporation (Aegion) is engaged in providing infrastructure protection and maintenance. The Company operates through three segments: Infrastructure Solutions, Corrosion Protection and Energy Services. The Company offers service solutions, including rehabilitation of water and wastewater pipelines with Insituform cured-in-place pipe (CIPP) products; fusible polyvinyl chloride products for rehabilitation; fiber reinforced polymer systems for rehabilitation and strengthening; cathodic protection for corrosion engineering control and infrastructure rehabilitation; pipe coatings for corrosion control and prevention; high density polyethylene (HDPE) pipe lining for corrosion control, abrasion protection and pipeline rehabilitation, and construction and maintenance of oil and gas facilities.
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