Aegion (AEGN) Upgraded to Hold at Zacks Investment Research

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Aegion (NASDAQ:AEGN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

According to Zacks, “Shares of Aegion have underperformed its industry in the past year. Earnings estimates for 2019 have also moved south over the past 60 days, depicting analysts’ concerns over the company’s earnings growth performance. Moreover, the company trimmed its 2018 EPS expectation mainly due to unfavorable project mix in North America CIPP operations along with top-line weakness in the cathodic protection business. Also, it is targeting its Infrastructure Solutions business sales to be below 2017 level. Aegion is witnessing a tighter labor market across North America along with higher restructuring and impairment charges. Nonetheless, the company is successfully capitalizing on strong backlog, strength in key markets, improved results on restructured operations and lower tax rates.”

Several other research analysts also recently commented on the company. Maxim Group started coverage on Aegion in a research note on Monday, January 7th. They issued a “hold” rating and a $18.00 price objective for the company. BidaskClub raised Aegion from a “strong sell” rating to a “sell” rating in a research note on Friday, December 21st. Canaccord Genuity downgraded Aegion from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. Finally, ValuEngine downgraded Aegion from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $25.75.

NASDAQ AEGN traded up $0.50 during mid-day trading on Tuesday, hitting $19.04. The stock had a trading volume of 931 shares, compared to its average volume of 112,179. Aegion has a twelve month low of $15.12 and a twelve month high of $26.80. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.89 and a current ratio of 2.17. The company has a market cap of $599.10 million, a P/E ratio of 18.42, a P/E/G ratio of 1.35 and a beta of 1.90.

In related news, CFO David F. Morris bought 10,000 shares of the business’s stock in a transaction on Friday, November 16th. The stock was acquired at an average cost of $18.50 per share, with a total value of $185,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.37% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Citigroup Inc. grew its holdings in shares of Aegion by 33.3% during the 4th quarter. Citigroup Inc. now owns 27,790 shares of the construction company’s stock worth $453,000 after purchasing an additional 6,935 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Aegion by 18.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,078 shares of the construction company’s stock worth $279,000 after purchasing an additional 2,704 shares during the period. Texas Permanent School Fund grew its holdings in shares of Aegion by 4.0% during the 4th quarter. Texas Permanent School Fund now owns 21,146 shares of the construction company’s stock worth $345,000 after purchasing an additional 816 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Aegion by 1.2% during the 4th quarter. Bank of New York Mellon Corp now owns 377,658 shares of the construction company’s stock worth $6,163,000 after purchasing an additional 4,471 shares during the period. Finally, BlackRock Inc. grew its holdings in shares of Aegion by 8.5% during the 4th quarter. BlackRock Inc. now owns 5,028,912 shares of the construction company’s stock worth $82,074,000 after purchasing an additional 395,682 shares during the period. 94.56% 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.

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