Shares of Argan, Inc. (NYSE:AGX) have been given a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation. Argan’s rating score has improved by 50% in the last 90 days as a result of a number of analysts’ ratings changes.
Analysts have set a 12-month consensus price objective of $71.00 for the company, according to Zacks. Zacks has also given Argan an industry rank of 178 out of 265 based on the ratings given to its competitors.
Several analysts have recently weighed in on the company. Sidoti began coverage on Argan in a report on Wednesday, June 28th. They issued a “neutral” rating for the company. BidaskClub upgraded Argan from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 19th. Finally, Lake Street Capital boosted their target price on Argan from $70.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, June 8th.
In related news, Director Henry A. Crumpton sold 30,000 shares of the stock in a transaction on Monday, June 12th. The stock was sold at an average price of $62.24, for a total value of $1,867,200.00. Following the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $1,244,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John Ronald Jr. Jeffrey bought 1,000 shares of the business’s stock in a transaction that occurred on Monday, June 26th. The stock was purchased at an average cost of $60.95 per share, for a total transaction of $60,950.00. The disclosure for this purchase can be found here. Corporate insiders own 7.64% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Meeder Asset Management Inc. increased its stake in shares of Argan by 117.3% in the second quarter. Meeder Asset Management Inc. now owns 1,775 shares of the construction company’s stock valued at $106,000 after buying an additional 958 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Argan by 17.7% in the second quarter. Victory Capital Management Inc. now owns 2,001 shares of the construction company’s stock valued at $120,000 after buying an additional 301 shares during the last quarter. Creative Planning boosted its position in shares of Argan by 2,480.0% in the first quarter. Creative Planning now owns 2,580 shares of the construction company’s stock valued at $171,000 after buying an additional 2,480 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Argan by 5.9% in the second quarter. Legal & General Group Plc now owns 3,406 shares of the construction company’s stock valued at $205,000 after buying an additional 190 shares during the last quarter. Finally, Private Advisor Group LLC bought a new position in shares of Argan during the first quarter valued at approximately $210,000. Hedge funds and other institutional investors own 86.08% of the company’s stock.
Shares of Argan (NYSE:AGX) traded up 0.46% during midday trading on Tuesday, hitting $66.15. The company had a trading volume of 30,758 shares. Argan has a 12 month low of $45.51 and a 12 month high of $76.70. The company has a 50-day moving average of $62.24 and a 200 day moving average of $66.36. The firm has a market capitalization of $1.03 billion, a PE ratio of 13.27 and a beta of 0.91.
Argan (NYSE:AGX) last announced its quarterly earnings results on Wednesday, June 7th. The construction company reported $1.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.42. The company had revenue of $230.49 million during the quarter, compared to the consensus estimate of $183.10 million. Argan had a return on equity of 27.30% and a net margin of 9.00%. The firm’s revenue for the quarter was up 76.8% compared to the same quarter last year. On average, analysts expect that Argan will post $4.23 EPS for the current fiscal year.
Argan Company Profile
Argan, Inc is a holding company. The Company conducts operations through its subsidiaries, Gemma Power Systems, LLC and affiliates (GPS), Atlantic Projects Company Limited (APC), Southern Maryland Cable, Inc (SMC) and The Roberts Company (Roberts). Through GPS and APC, the Company’s power industry services segment provides engineering, procurement, construction, commissioning, operations management, maintenance, development, technical and consulting services to the power generation and renewable energy markets.
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