Zacks Investment Research upgraded shares of Aegion (NASDAQ:AEGN) from a sell rating to a hold rating in a research report released on Monday, February 19th.
According to Zacks, “Aegion announced preliminary results for 2017 wherein revenues and adjusted earnings are expected to be around $1.359 billion and $1.03 per share, respectively. From 2016, revenues are anticipated to increase 11.2% while adjusted earnings will decline 6%. Earnings are expected to be lower in 2017 due to higher-than-anticipated losses in the businesses being restructured. Backed by strong backlog along with continued strength in key markets, improved results from restructured operations and the lower effective tax rates due to recent tax law changes will lead to a year-over-year improvement of more than 30% in earnings in 2018. Aegion has undertaken strategic actions targeted to generate more predictable and sustainable long-term earnings growth. However, this will lead to higher restructuring charges in the near term. Further, higher input costs and interest expenses will dent margins. The stock has underperformed the industry in the past year.”
AEGN has been the subject of several other reports. BidaskClub cut shares of Aegion from a hold rating to a sell rating in a research report on Friday, January 26th. TheStreet cut shares of Aegion from a b- rating to a c rating in a research report on Thursday, November 2nd. ValuEngine upgraded shares of Aegion from a hold rating to a buy rating in a research report on Sunday, December 31st. Hilliard Lyons cut shares of Aegion from a buy rating to a neutral rating in a research report on Thursday, December 21st. Finally, Canaccord Genuity raised their price target on shares of Aegion from $26.00 to $27.00 and gave the stock a buy rating in a report on Friday, November 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. Aegion currently has a consensus rating of Hold and an average target price of $26.75.
In other Aegion news, CAO Michael D. White sold 4,141 shares of the firm’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $23.36, for a total value of $96,733.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Charles R. Gordon sold 20,000 shares of the firm’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $23.36, for a total transaction of $467,200.00. Following the completion of the transaction, the chief executive officer now directly owns 306,802 shares in the company, valued at $7,166,894.72. The disclosure for this sale can be found here. Company insiders own 3.62% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio lifted its stake in shares of Aegion by 10.1% in the second quarter. Public Employees Retirement System of Ohio now owns 4,643 shares of the construction company’s stock valued at $102,000 after buying an additional 426 shares in the last quarter. Victory Capital Management Inc. bought a new position in shares of Aegion in the third quarter valued at $131,000. SG Americas Securities LLC bought a new position in shares of Aegion in the third quarter valued at $133,000. UBS Asset Management Americas Inc. bought a new position in shares of Aegion in the fourth quarter valued at $209,000. Finally, Eqis Capital Management Inc. bought a new position in shares of Aegion in the third quarter valued at $210,000. 93.74% of the stock is currently owned by hedge funds and other institutional investors.
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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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