In a report released today, Robert Burleson from Canaccord Genuity maintained a Buy rating on Aegion (NASDAQ: AEGN), with a price target of $27. The company’s shares opened today at $22.67.
Burleson noted:
“We continue to expect broad-based strength this year with guidance calling for growth across the company’s businesses, excluding the large Appomattox project last year. Meanwhile, the restructuring effort remains on track with the planned divestitures of the underperforming Danish and Australian operations and the sale of the Bayou business planned for later this month. Longer term, we are confident that strategic initiatives will drive more sustainable and predictable long-term growth and profitability. We maintain our BUY rating and $27 price target.”
According to TipRanks.com, Burleson is a 5-star analyst with an average return of 13.0% and a 59.8% success rate. Burleson covers the Consumer Goods sector, focusing on stocks such as IPG Photonics Corporation, Faro Technologies, and Nano Dimension.
The word on The Street in general, suggests a Hold analyst consensus rating for Aegion with a $28 average price target.
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Based on Aegion’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $2.07 million. In comparison, last year the company had a net profit of $11.1 million.
Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is negative on the stock.
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Aegion Corp. engages in the provision of infrastructure protection, maintenance, and rehabilitation. It operates through the following segments: Infrastructure Solutions, Corrosion Protection and Energy Services. The Infrastructure Solutions segment focuses on the municipal water and wastewater pipeline sector.
