Aegion Corp (AEGN) Receives Buy Rating from Canaccord Genuity
Aegion Corp (NASDAQ:AEGN)‘s stock had its “buy” rating reiterated by equities researchers at Canaccord Genuity in a research report issued to clients and investors on Friday. They presently have a $30.00 target price on the construction company’s stock. Canaccord Genuity’s target price would indicate a potential upside of 30.55% from the stock’s previous close.
A number of other research firms have also commented on AEGN. TheStreet upgraded shares of Aegion Corp from a “c” rating to a “b” rating in a research report on Wednesday, March 1st. DA Davidson reiterated a “neutral” rating on shares of Aegion Corp in a research report on Wednesday, January 11th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $25.00.
Aegion Corp (NASDAQ:AEGN) opened at 22.98 on Friday. The firm has a market capitalization of $745.82 million, a price-to-earnings ratio of 27.36 and a beta of 1.75. The stock’s 50 day moving average is $22.71 and its 200 day moving average is $22.60. Aegion Corp has a 1-year low of $17.18 and a 1-year high of $26.68.
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Aegion Corp (NASDAQ:AEGN) last released its quarterly earnings data on Tuesday, February 28th. The construction company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.07. Aegion Corp had a negative net margin of 1.72% and a positive return on equity of 6.43%. The company earned $321.80 million during the quarter, compared to analyst estimates of $336.70 million. Analysts predict that Aegion Corp will post $1.42 EPS for the current fiscal year.
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In other news, SVP Michael D. White sold 2,175 shares of the business’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $24.22, for a total value of $52,678.50. Following the completion of the sale, the senior vice president now directly owns 14,409 shares in the company, valued at approximately $348,985.98. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.47% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Louisiana State Employees Retirement System boosted its stake in shares of Aegion Corp by 0.7% in the first quarter. Louisiana State Employees Retirement System now owns 13,800 shares of the construction company’s stock worth $316,000 after buying an additional 100 shares during the period. Municipal Employees Retirement System of Michigan boosted its stake in shares of Aegion Corp by 1.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 7,790 shares of the construction company’s stock worth $149,000 after buying an additional 120 shares during the period. HL Financial Services LLC boosted its stake in shares of Aegion Corp by 3.4% in the third quarter. HL Financial Services LLC now owns 14,375 shares of the construction company’s stock worth $274,000 after buying an additional 475 shares during the period. Howe & Rusling Inc. boosted its stake in shares of Aegion Corp by 4.1% in the first quarter. Howe & Rusling Inc. now owns 17,734 shares of the construction company’s stock worth $406,000 after buying an additional 704 shares during the period. Finally, Metropolitan Life Insurance Co. NY boosted its stake in shares of Aegion Corp by 3.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 25,368 shares of the construction company’s stock worth $601,000 after buying an additional 938 shares during the period. 88.83% of the stock is currently owned by institutional investors and hedge funds.
Aegion Corp Company Profile
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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