Brokerages Set Aegion Corp (AEGN) Price Target at $29.00
Aegion Corp (NASDAQ:AEGN) has been given an average rating of “Hold” by the seven analysts that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $29.00.
Several equities analysts have recently commented on the stock. Zacks Investment Research cut shares of Aegion from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. BidaskClub upgraded shares of Aegion from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 22nd. Stifel Nicolaus boosted their target price on shares of Aegion from $28.00 to $29.00 and gave the company a “hold” rating in a research report on Monday, August 6th. Canaccord Genuity restated a “buy” rating and issued a $27.00 target price on shares of Aegion in a research report on Thursday, August 2nd. Finally, ValuEngine upgraded shares of Aegion from a “hold” rating to a “buy” rating in a research report on Friday, August 3rd.
A number of hedge funds have recently added to or reduced their stakes in AEGN. Royal Bank of Canada increased its position in Aegion by 123.1% during the 1st quarter. Royal Bank of Canada now owns 7,139 shares of the construction company’s stock worth $164,000 after purchasing an additional 3,939 shares in the last quarter. Xact Kapitalforvaltning AB acquired a new position in Aegion in the 1st quarter valued at approximately $207,000. Bank of Montreal Can acquired a new position in Aegion in the 2nd quarter valued at approximately $123,000. Foundry Partners LLC increased its position in Aegion by 5.0% in the 2nd quarter. Foundry Partners LLC now owns 422,195 shares of the construction company’s stock valued at $10,872,000 after acquiring an additional 20,076 shares during the period. Finally, Piedmont Investment Advisors LLC acquired a new position in Aegion in the 2nd quarter valued at approximately $194,000. Institutional investors and hedge funds own 94.07% of the company’s stock.
Aegion (NASDAQ:AEGN) last posted its quarterly earnings data on Tuesday, October 30th. The construction company reported $0.45 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.02). The business had revenue of $339.68 million during the quarter, compared to the consensus estimate of $344.25 million. Aegion had a negative net margin of 0.55% and a positive return on equity of 7.42%. Equities analysts expect that Aegion will post 1.16 EPS for the current year.
Aegion Corporation provides technologies to maintain, rehabilitate, and strengthen infrastructure worldwide. It operates through three segments: Infrastructure Solutions, Corrosion Protection, and Energy Services. The company offers various solutions for rehabilitating and maintaining aging or deteriorating infrastructure; protecting new infrastructure from corrosion; and providing integrated professional services in engineering, procurement, construction, maintenance, and turnaround services for oil companies.
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