Zacks Investment Research upgraded shares of Aegion Corp (NASDAQ:AEGN) from a sell rating to a hold rating in a research note published on Wednesday.
According to Zacks, “Aegion’s third-quarter earnings came in line with the prior-year quarter despite a rise in revenues. Earnings beat the Zacks Consensus Estimate while revenues fell short of the same. The company has undertaken strategic actions targeted to generate more predictable and sustainable long-term earnings growth. However, this will lead to higher restructuring charges in the near term. Further, higher input costs and interest expenses will dent margins. The stock has outperformed the industry in the past year as Aegion continues to witness surge in new orders driven by continued momentum across key markets for all the three segments. It will also benefit from the demand in the North America CIPP rehabilitation business, improved pressure pipe markets penetration, sustained margins in cathodic protection business as well as momentum in Energy Services.”
Other analysts also recently issued research reports about the company. TheStreet raised Aegion Corp from a c+ rating to a b rating in a research note on Tuesday, August 1st. Stifel Nicolaus reaffirmed a hold rating and set a $23.50 price objective on shares of Aegion Corp in a research note on Monday, August 7th. BidaskClub raised Aegion Corp from a buy rating to a strong-buy rating in a research note on Wednesday, August 16th. Canaccord Genuity reaffirmed a buy rating and set a $26.00 price objective on shares of Aegion Corp in a research note on Thursday, August 10th. Finally, Craig Hallum downgraded Aegion Corp from a buy rating to a hold rating in a research note on Tuesday, October 3rd. Six investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Aegion Corp presently has a consensus rating of Buy and an average price target of $25.50.
Shares of Aegion Corp (NASDAQ AEGN) traded down $0.30 during trading on Wednesday, reaching $26.89. The company had a trading volume of 208,400 shares, compared to its average volume of 225,905. The firm has a market cap of $874.65, a P/E ratio of 21.01, a PEG ratio of 2.00 and a beta of 1.68. Aegion Corp has a twelve month low of $19.11 and a twelve month high of $27.48. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.36 and a quick ratio of 2.09.
Aegion Corp (NASDAQ:AEGN) last issued its quarterly earnings data on Wednesday, November 1st. The construction company reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.06. The business had revenue of $341.87 million for the quarter, compared to the consensus estimate of $328.98 million. Aegion Corp had a positive return on equity of 7.62% and a negative net margin of 3.03%. The firm’s revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.32 EPS. equities research analysts predict that Aegion Corp will post 1.08 EPS for the current fiscal year.
Aegion Corp announced that its board has initiated a stock buyback plan on Wednesday, November 1st that permits the company to repurchase $40.00 million in outstanding shares. This repurchase authorization permits the construction company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
In other Aegion Corp news, CFO David A. Martin sold 10,000 shares of Aegion Corp stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $24.00, for a total value of $240,000.00. Following the sale, the chief financial officer now owns 101,430 shares of the company’s stock, valued at approximately $2,434,320. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.62% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN raised its stake in shares of Aegion Corp by 8.0% in the 3rd quarter. Wells Fargo & Company MN now owns 30,568 shares of the construction company’s stock valued at $712,000 after purchasing an additional 2,272 shares during the period. Nordea Investment Management AB increased its position in shares of Aegion Corp by 1.1% in the third quarter. Nordea Investment Management AB now owns 252,370 shares of the construction company’s stock valued at $5,875,000 after acquiring an additional 2,800 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Aegion Corp in the third quarter valued at about $310,000. Ameriprise Financial Inc. increased its position in shares of Aegion Corp by 20.3% in the third quarter. Ameriprise Financial Inc. now owns 267,673 shares of the construction company’s stock valued at $6,231,000 after acquiring an additional 45,130 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Aegion Corp in the third quarter valued at about $133,000. 89.07% 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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