Argan, Inc. (NYSE:AGX) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating.
Analysts have set a 1-year consensus price objective of $56.00 for the company, according to Zacks. Zacks has also given Argan an industry rank of 175 out of 256 based on the ratings given to its competitors.
Separately, TheStreet upgraded Argan from a “c+” rating to a “b-” rating in a research note on Wednesday, September 12th.
Argan (NYSE:AGX) last released its quarterly earnings results on Thursday, December 6th. The construction company reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $1.73. Argan had a return on equity of 16.62% and a net margin of 10.86%. The company had revenue of $116.50 million during the quarter, compared to analysts’ expectations of $101.60 million. During the same period last year, the business posted $1.09 earnings per share. The firm’s revenue was down 50.0% compared to the same quarter last year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 31st. Stockholders of record on Thursday, January 24th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.55%. The ex-dividend date is Wednesday, January 23rd.
Several large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in shares of Argan by 13.4% in the third quarter. Dimensional Fund Advisors LP now owns 1,227,671 shares of the construction company’s stock worth $52,790,000 after purchasing an additional 145,488 shares during the last quarter. BlackRock Inc. raised its stake in shares of Argan by 6.4% in the second quarter. BlackRock Inc. now owns 1,045,232 shares of the construction company’s stock worth $42,802,000 after purchasing an additional 63,141 shares during the last quarter. Ashford Capital Management Inc. grew its holdings in Argan by 21.3% during the third quarter. Ashford Capital Management Inc. now owns 683,832 shares of the construction company’s stock worth $29,405,000 after acquiring an additional 120,233 shares during the period. Royce & Associates LP grew its holdings in Argan by 10.5% during the third quarter. Royce & Associates LP now owns 565,646 shares of the construction company’s stock worth $24,323,000 after acquiring an additional 53,783 shares during the period. Finally, River Road Asset Management LLC grew its holdings in Argan by 1.6% during the third quarter. River Road Asset Management LLC now owns 354,378 shares of the construction company’s stock worth $15,238,000 after acquiring an additional 5,560 shares during the period. Hedge funds and other institutional investors own 78.74% of the company’s stock.
Argan Company Profile
Argan, Inc, through its subsidiaries, provides engineering, procurement, construction, commissioning, operations management, maintenance, development, technical, and consulting services to the power generation and renewable energy markets. The company's Power Industry Services segment offers engineering, procurement, and construction contracting services to the owners of alternative energy facilities, such as biomass plants, wind farms, and solar fields; and design, construction, project management, start-up, and operation services for 44 projects with approximately 15,000 megawatts of power-generating capacity.
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