Aegion Corp (AEGN) Downgraded by TheStreet
Aegion Corp (NASDAQ:AEGN) was downgraded by TheStreet from a “b-” rating to a “c” rating in a research report issued to clients and investors on Thursday.
Several other research firms have also weighed in on AEGN. Canaccord Genuity lifted their price objective on shares of Aegion Corp from $26.00 to $27.00 and gave the company a “buy” rating in a research note on Friday. Sidoti lowered shares of Aegion Corp from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 8th. Stifel Nicolaus reiterated a “hold” rating and issued a $23.50 price objective on shares of Aegion Corp in a research note on Monday, August 7th. ValuEngine upgraded shares of Aegion Corp from a “hold” rating to a “buy” rating in a research note on Tuesday, September 12th. Finally, BidaskClub lowered shares of Aegion Corp from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Six research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $25.50.
Aegion Corp (AEGN) opened at $25.88 on Thursday. The stock has a market capitalization of $841.79, a PE ratio of 20.22, a P/E/G ratio of 1.99 and a beta of 1.68. The company has a current ratio of 2.36, a quick ratio of 2.09 and a debt-to-equity ratio of 0.65.
Aegion Corp (NASDAQ:AEGN) last issued its quarterly earnings results on Wednesday, November 1st. The construction company reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.06. The firm had revenue of $341.87 million for the quarter, compared to the consensus estimate of $328.98 million. Aegion Corp had a negative net margin of 3.03% and a positive return on equity of 7.62%. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.32 EPS. equities research analysts forecast that Aegion Corp will post 1.04 earnings per share for the current year.
Aegion Corp announced that its board has authorized a stock repurchase plan on Wednesday, November 1st that authorizes the company to repurchase $40.00 million in shares. This repurchase authorization authorizes the construction company to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
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In other Aegion Corp news, CFO David A. Martin sold 10,000 shares of the business’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $24.00, for a total transaction of $240,000.00. Following the completion of the sale, the chief financial officer now owns 101,430 shares in the company, valued at approximately $2,434,320. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.62% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. BNP Paribas Arbitrage SA increased its stake in Aegion Corp by 45.6% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 18,072 shares of the construction company’s stock valued at $421,000 after purchasing an additional 5,663 shares in the last quarter. Boston Partners increased its stake in Aegion Corp by 17.8% during the 3rd quarter. Boston Partners now owns 1,213,459 shares of the construction company’s stock valued at $28,249,000 after purchasing an additional 183,579 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake in Aegion Corp by 12.2% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 42,727 shares of the construction company’s stock valued at $995,000 after purchasing an additional 4,641 shares in the last quarter. Foundry Partners LLC increased its stake in Aegion Corp by 7.9% during the 3rd quarter. Foundry Partners LLC now owns 536,853 shares of the construction company’s stock valued at $12,498,000 after purchasing an additional 39,484 shares in the last quarter. Finally, NJ State Employees Deferred Compensation Plan increased its stake in Aegion Corp by 25.0% during the 3rd quarter. NJ State Employees Deferred Compensation Plan now owns 50,000 shares of the construction company’s stock valued at $1,164,000 after purchasing an additional 10,000 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.
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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