Aegion (AEGN) Cut to Buy at BidaskClub
BidaskClub lowered shares of Aegion (NASDAQ:AEGN) from a strong-buy rating to a buy rating in a research note issued to investors on Thursday morning.
A number of other analysts have also recently issued reports on the company. Zacks Investment Research upgraded Aegion from a sell rating to a hold rating in a report on Wednesday, November 8th. TheStreet cut Aegion from a b- rating to a c rating in a report on Thursday, November 2nd. Canaccord Genuity boosted their target price on Aegion from $26.00 to $27.00 and gave the stock a buy rating in a report on Friday, November 3rd. Hilliard Lyons raised Aegion from a neutral rating to a buy rating and set a $26.00 price target on the stock in a research report on Wednesday, October 4th. Finally, Craig Hallum lowered Aegion from a buy rating to a hold rating in a research report on Tuesday, October 3rd. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Aegion currently has an average rating of Hold and a consensus price target of $26.33.
Shares of Aegion (NASDAQ:AEGN) traded up $0.26 during trading hours on Thursday, hitting $25.56. The stock had a trading volume of 503,061 shares, compared to its average volume of 140,924. The company has a quick ratio of 2.09, a current ratio of 2.36 and a debt-to-equity ratio of 0.65. Aegion has a 1-year low of $19.11 and a 1-year high of $28.19. The stock has a market cap of $831.39, a PE ratio of 19.97, a P/E/G ratio of 1.88 and a beta of 1.76.
In related news, EVP David F. Morris sold 9,239 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $28.05, for a total transaction of $259,153.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO David A. Martin sold 10,000 shares of the business’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 value of $240,000.00. Following the transaction, the chief financial officer now directly owns 101,430 shares in the company, valued at $2,434,320. The disclosure for this sale can be found here. Insiders own 3.62% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in AEGN. Public Employees Retirement System of Ohio lifted its position in Aegion by 10.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,643 shares of the construction company’s stock worth $102,000 after acquiring an additional 426 shares in the last quarter. Victory Capital Management Inc. acquired a new position in shares of Aegion in the 3rd quarter valued at approximately $131,000. SG Americas Securities LLC acquired a new position in shares of Aegion in the 3rd quarter valued at approximately $133,000. Eqis Capital Management Inc. acquired a new position in shares of Aegion in the 3rd quarter valued at approximately $210,000. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of Aegion in the 3rd quarter valued at approximately $240,000. 92.99% of the stock is currently owned by hedge funds and other institutional investors.
Aegion 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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