Aegion Corp (AEGN) Receives New Coverage from Analysts at Canaccord Genuity
Equities research analysts at Canaccord Genuity started coverage on shares of Aegion Corp (NASDAQ:AEGN) in a research note issued on Tuesday. The brokerage set a “buy” rating and a $30.00 price target on the stock. Canaccord Genuity’s target price would indicate a potential upside of 23.15% from the company’s previous close.
Several other research analysts also recently issued reports on the company. DA Davidson restated a “hold” rating and set a $20.00 price objective on shares of Aegion Corp in a research report on Wednesday, October 5th. Sidoti upgraded Aegion Corp from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 22nd. Seaport Global Securities downgraded Aegion Corp from an “accumulate” rating to a “neutral” rating in a research report on Wednesday, November 23rd. Finally, TheStreet upgraded Aegion Corp from a “hold” rating to a “buy” rating in a research report on Thursday, December 22nd. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Aegion Corp has a consensus rating of “Buy” and a consensus target price of $23.50.
Aegion Corp (NASDAQ:AEGN) traded up 5.91% during mid-day trading on Tuesday, reaching $24.36. The company’s stock had a trading volume of 391,053 shares. Aegion Corp has a one year low of $16.00 and a one year high of $26.14. The firm’s market cap is $794.45 million. The stock’s 50 day moving average is $24.81 and its 200 day moving average is $20.65.
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Aegion Corp (NASDAQ:AEGN) last posted its quarterly earnings results on Monday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by $0.03. Aegion Corp had a negative net margin of 1.72% and a positive return on equity of 6.43%. The company had revenue of $308.52 million for the quarter, compared to analyst estimates of $318.99 million. During the same quarter in the previous year, the business posted $0.44 earnings per share. Aegion Corp’s revenue was down 13.5% on a year-over-year basis. On average, analysts anticipate that Aegion Corp will post $1.12 EPS for the current year.
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In other Aegion Corp news, SVP John D. Huhn sold 2,700 shares of Aegion Corp stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $23.00, for a total value of $62,100.00. Following the completion of the sale, the senior vice president now directly owns 20,888 shares of the company’s stock, valued at approximately $480,424. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David F. Morris sold 15,000 shares of Aegion Corp stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $22.57, for a total transaction of $338,550.00. Following the completion of the sale, the executive vice president now directly owns 153,108 shares of the company’s stock, valued at $3,455,647.56. The disclosure for this sale can be found here. 3.47% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. Security National Bank of Sioux City Iowa IA boosted its stake in Aegion Corp by 1.5% in the fourth quarter. Security National Bank of Sioux City Iowa IA now owns 69,759 shares of the company’s stock valued at $1,347,000 after buying an additional 1,020 shares during the last quarter. KBC Group NV boosted its stake in shares of Aegion Corp by 5.1% in the fourth quarter. KBC Group NV now owns 134,600 shares of the company’s stock valued at $2,599,000 after buying an additional 6,588 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Aegion Corp by 4.6% in the fourth quarter. Principal Financial Group Inc. now owns 239,259 shares of the company’s stock valued at $4,620,000 after buying an additional 10,543 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Aegion Corp by 34,264.7% in the fourth quarter. Bank of Montreal Can now owns 99,314 shares of the company’s stock valued at $1,917,000 after buying an additional 99,025 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. boosted its stake in shares of Aegion Corp by 1.4% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 77,815 shares of the company’s stock valued at $1,503,000 after buying an additional 1,090 shares in the last quarter. 88.91% of the stock is owned by hedge funds and other institutional investors.
Aegion Corp Company Profile
Aegion Corporation (Aegion) is engaged in providing infrastructure protection and maintenance. The Company is engaged in providing technologies and services to protect against the corrosion of industrial pipelines, and rehabilitate and strengthen water, wastewater, energy and mining piping systems and buildings, bridges, tunnels and waterfront structures.
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