Aegion (AEGN) Stock Rating Lowered by Canaccord Genuity

Aegion (NASDAQ:AEGN) was downgraded by equities researchers at Canaccord Genuity from a “buy” rating to a “hold” rating in a report issued on Thursday, Marketbeat reports.

A number of other analysts have also recently commented on the company. ValuEngine cut Aegion from a “hold” rating to a “sell” rating in a research report on Thursday. BidaskClub raised Aegion from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 22nd. Stifel Nicolaus lifted their price target on Aegion from $28.00 to $29.00 and gave the stock a “hold” rating in a research report on Monday, August 6th. Finally, Zacks Investment Research cut Aegion from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. Two analysts have rated the stock with a sell rating and five have given a hold rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $28.33.

Shares of AEGN opened at $19.45 on Thursday. Aegion has a one year low of $18.26 and a one year high of $28.19. The company has a quick ratio of 2.05, a current ratio of 2.32 and a debt-to-equity ratio of 0.63. The stock has a market cap of $631.01 million, a price-to-earnings ratio of 17.29, a PEG ratio of 1.60 and a beta of 2.01.

Aegion (NASDAQ:AEGN) last issued its quarterly earnings results on Tuesday, October 30th. The construction company reported $0.45 EPS for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.02). Aegion had a positive return on equity of 7.37% and a negative net margin of 0.55%. The firm had revenue of $339.68 million for the quarter, compared to analyst estimates of $344.25 million. As a group, equities research analysts expect that Aegion will post 1.16 earnings per share for the current year.

Several hedge funds have recently modified their holdings of AEGN. Russell Investments Group Ltd. acquired a new position in shares of Aegion in the 1st quarter valued at about $1,670,000. Royal Bank of Canada lifted its holdings in shares of Aegion by 123.1% in the 1st quarter. Royal Bank of Canada now owns 7,139 shares of the construction company’s stock valued at $164,000 after buying an additional 3,939 shares during the period. Xact Kapitalforvaltning AB acquired a new position in shares of Aegion in the 1st quarter valued at about $207,000. Bank of Montreal Can acquired a new position in shares of Aegion in the 2nd quarter valued at about $123,000. Finally, Foundry Partners LLC lifted its holdings in shares of 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 buying an additional 20,076 shares during the period. 92.28% of the stock is owned by institutional investors and hedge funds.

Aegion Company Profile

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.

Further Reading: Terms to Better Understand Call Options

Receive News & Ratings for Aegion Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aegion and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply