Aegion Corp (NASDAQ:AEGN) has been given a consensus recommendation of “Buy” by the eleven brokerages that are currently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $25.50.
Several research firms have recently commented on AEGN. Canaccord Genuity increased their target price on Aegion Corp from $26.00 to $27.00 and gave the company a “buy” rating in a research note on Friday. BidaskClub raised Aegion Corp from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Sidoti lowered Aegion Corp from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 2nd. Craig Hallum lowered Aegion Corp from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Finally, Zacks Investment Research raised Aegion Corp from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 11th.
Aegion Corp (AEGN) opened at $25.88 on Friday. The company has a market cap of $841.80, a P/E ratio of 20.22, a P/E/G ratio of 1.99 and a beta of 1.68. The company has a quick ratio of 2.23, a current ratio of 2.58 and a debt-to-equity ratio of 0.59.
Aegion Corp (NASDAQ:AEGN) last released its earnings results on Wednesday, November 1st. The construction company reported $0.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.06. The company had revenue of $341.87 million during the quarter, compared to analysts’ expectations of $328.98 million. Aegion Corp had a positive return on equity of 7.40% and a negative net margin of 3.03%. The business’s revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 EPS. analysts expect that Aegion Corp will post 1.04 EPS for the current year.
Aegion Corp announced that its board has initiated a stock buyback plan on Wednesday, November 1st that permits the company to buyback $40.00 million in outstanding shares. This buyback authorization permits the construction company to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.
In related news, CFO David A. Martin sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $24.00, for a total transaction of $240,000.00. Following the sale, the chief financial officer now directly owns 101,430 shares of the company’s stock, valued at approximately $2,434,320. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.62% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of AEGN. Wells Fargo & Company MN increased its position in Aegion Corp by 0.6% in the first quarter. Wells Fargo & Company MN now owns 25,867 shares of the construction company’s stock worth $592,000 after buying an additional 150 shares during the period. SG Americas Securities LLC acquired a new stake in Aegion Corp in the first quarter worth $119,000. Principal Financial Group Inc. increased its position in Aegion Corp by 3.6% in the first quarter. Principal Financial Group Inc. now owns 290,195 shares of the construction company’s stock worth $6,648,000 after buying an additional 9,984 shares during the period. Vanguard Group Inc. increased its position in Aegion Corp by 4.4% in the first quarter. Vanguard Group Inc. now owns 3,050,397 shares of the construction company’s stock worth $69,885,000 after buying an additional 128,485 shares during the period. Finally, Geode Capital Management LLC increased its position in Aegion Corp by 4.4% in the first quarter. Geode Capital Management LLC now owns 277,556 shares of the construction company’s stock worth $6,358,000 after buying an additional 11,626 shares during the period. 88.89% of the stock is currently 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 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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