Maxim Group Begins Coverage on Aegion (AEGN)

Maxim Group assumed coverage on shares of Aegion (NASDAQ:AEGN) in a research report sent to investors on Monday morning, Marketbeat.com reports. The brokerage issued a hold rating and a $18.00 price objective on the construction company’s stock.

“Based on a risk of more costs from Aegion’s current restructuring effort and ahead of potential progress selling more drinking water pipe products, we initiate coverage of Aegion with a Hold rating.”,” Maxim Group’s analyst commented.

Several other brokerages also recently commented on AEGN. BidaskClub raised Aegion from a strong sell rating to a sell rating in a report on Saturday, September 22nd. ValuEngine downgraded Aegion from a buy rating to a hold rating in a report on Wednesday, September 19th. Zacks Investment Research reaffirmed a sell rating on shares of Aegion in a report on Monday, November 12th. Finally, Canaccord Genuity downgraded Aegion from a buy rating to a hold rating in a report on Thursday, November 1st. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $25.75.

Shares of NASDAQ AEGN opened at $18.26 on Monday. Aegion has a 12 month low of $15.12 and a 12 month high of $26.80. The firm has a market cap of $585.85 million, a PE ratio of 17.73, a P/E/G ratio of 1.33 and a beta of 1.92. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.17 and a quick ratio of 1.89.

Aegion (NASDAQ:AEGN) last announced its earnings results on Tuesday, October 30th. The construction company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.02). Aegion had a negative net margin of 0.55% and a positive return on equity of 7.42%. The company had revenue of $339.68 million for the quarter, compared to analysts’ expectations of $344.25 million. On average, research analysts anticipate that Aegion will post 1.2 earnings per share for the current fiscal year.

In other Aegion news, CFO David F. Morris acquired 10,000 shares of Aegion stock in a transaction that occurred on Friday, November 16th. The stock was purchased at an average cost of $18.50 per share, with a total value of $185,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 3.37% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in AEGN. BlackRock Inc. lifted its stake in Aegion by 3.6% in the 3rd quarter. BlackRock Inc. now owns 4,633,230 shares of the construction company’s stock worth $117,594,000 after acquiring an additional 161,864 shares in the last quarter. Morgan Stanley increased its position in Aegion by 64.3% in the 3rd quarter. Morgan Stanley now owns 299,050 shares of the construction company’s stock worth $7,590,000 after purchasing an additional 117,003 shares during the last quarter. Renaissance Technologies LLC increased its position in Aegion by 22.2% in the 2nd quarter. Renaissance Technologies LLC now owns 495,000 shares of the construction company’s stock worth $12,746,000 after purchasing an additional 89,800 shares during the last quarter. Vanguard Group Inc increased its position in Aegion by 2.5% in the 3rd quarter. Vanguard Group Inc now owns 3,109,497 shares of the construction company’s stock worth $78,919,000 after purchasing an additional 75,215 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Aegion by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 3,109,497 shares of the construction company’s stock worth $78,919,000 after purchasing an additional 75,215 shares during the last quarter. 93.86% of the stock is owned by hedge funds and other institutional investors.

About Aegion

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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