Aegion (NASDAQ:AEGN) Downgraded to Sell at Zacks Investment Research

Aegion (NASDAQ:AEGN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday, Zacks.com reports. They currently have a $24.00 price objective on the construction company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 3.99% from the stock’s current price.

According to Zacks, “Shares of Aegion have underperformed its industry in the past year. The price performance is mainly backed by dismal earnings surprise history. Its earnings missed the analysts’ expectation in eight of the last 14 quarters, while revenues lagged the same in seven quarters. Lower contribution from a large coating project at Corrosion Protection and the turnaround activity at Energy Services have been hurting Aegion’s performance over the past few quarters. Meanwhile, Aegion tweaked its 2019 projections for revenues and earnings. It anticipates revenues to decline across segments. However, earnings are expected to improve modestly on the back of strong backlog position and market outlook in core businesses. Also, it is expected to benefit from acquisitions, strategic initiatives & divesture actions, going forward.”

Several other research firms also recently issued reports on AEGN. Maxim Group reaffirmed a “hold” rating and issued a $23.00 price objective on shares of Aegion in a research note on Tuesday, December 17th. ValuEngine downgraded Aegion from a “hold” rating to a “sell” rating in a research note on Friday, January 3rd. Finally, BidaskClub raised Aegion from a “sell” rating to a “hold” rating in a research note on Friday. Two analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. Aegion has an average rating of “Hold” and an average target price of $23.67.

Shares of Aegion stock traded down $0.10 on Friday, hitting $23.08. The stock had a trading volume of 494 shares, compared to its average volume of 78,573. The stock has a 50 day moving average of $21.98 and a 200 day moving average of $21.09. Aegion has a twelve month low of $14.12 and a twelve month high of $23.65. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.74 and a current ratio of 1.99. The firm has a market capitalization of $712.99 million, a P/E ratio of -79.58 and a beta of 2.11.

Large investors have recently added to or reduced their stakes in the business. Zebra Capital Management LLC acquired a new stake in Aegion during the 3rd quarter valued at approximately $240,000. Boston Partners increased its position in Aegion by 33.0% during the 3rd quarter. Boston Partners now owns 1,902,604 shares of the construction company’s stock valued at $40,739,000 after purchasing an additional 471,672 shares during the period. State of Tennessee Treasury Department increased its position in Aegion by 8.5% during the 3rd quarter. State of Tennessee Treasury Department now owns 14,517 shares of the construction company’s stock valued at $310,000 after purchasing an additional 1,141 shares during the period. Morgan Stanley increased its position in Aegion by 14.2% during the 2nd quarter. Morgan Stanley now owns 232,482 shares of the construction company’s stock valued at $4,278,000 after purchasing an additional 28,965 shares during the period. Finally, Rhumbline Advisers increased its position in Aegion by 4.8% during the 3rd quarter. Rhumbline Advisers now owns 103,688 shares of the construction company’s stock valued at $2,217,000 after purchasing an additional 4,721 shares during the period. 94.27% of the stock is owned by institutional investors and hedge funds.

Aegion Company Profile

Aegion Corporation provides technologies to maintain, rehabilitate, and strengthen infrastructure in the United States, Canada, Europe, and internationally. 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 and natural gas companies.

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