Aegion Gets a Buy from Canaccord Genuity

By Jason Carr

Canaccord Genuity analyst Robert Burleson reiterated a Buy rating on Aegion (NASDAQ: AEGN) yesterday and set a price target of $30. The company’s shares closed yesterday at $22.98.

According to, Burleson is a 5-star analyst with an average return of 13.4% and a 58.0% success rate. Burleson covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Integrated Device Tech, and Mitel Networks Corp.

Aegion has an analyst consensus of Moderate Buy, with a price target consensus of $30.

Based on Aegion’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $322 million and quarterly net profit of $17.79 million. In comparison, last year the company earned revenue of $294 million and had a GAAP net loss of $3.79 million.

Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is neutral on the stock. Last month, Michael D. White, the SVP & Corp. Contr. of AEGN sold 2,175 shares for a total of $52,679.

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Aegion Corp. engages in the provision of infrastructure protection, proprietary technologies and services. It operates through three segments: Infrastructure Solutions, Corrosion Protection and Energy Services. The Infrastructure Solutions segment provides infrastructure rehabilitation and strengthening solutions for pipelines, buildings, bridges and other structures. The Corrosion Protection segment provides pipeline rehabilitation services for the energy and mining market, ranging from coatings and lining products to cathodic protection to full pipe rehabilitation. The Energy Services segment provides engineering, construction, and maintenance services to private sector, whose work ranges from small plant maintenance projects and revamps to large grassroots process. The company was founded in 1980 and is headquartered in Chesterfield, MO.