Argan, Inc. (NYSE:AGX) has received a consensus broker rating score of 2.00 (Buy) from the two brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold rating and one has issued a strong buy rating on the company. Argan’s rating score has declined by 100% from three months ago as a result of various analysts’ upgrades and downgrades.
Brokers have set a one year consensus price objective of $70.00 for the company and are predicting that the company will post $0.84 earnings per share for the current quarter, according to Zacks. Zacks has also given Argan an industry rank of 176 out of 265 based on the ratings given to its competitors.
AGX has been the subject of several analyst reports. Zacks Investment Research lowered Argan from a “buy” rating to a “hold” rating in a research note on Thursday, February 2nd. Avondale Partners lowered Argan from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 8th.
In related news, VP Richard H. Deily sold 2,650 shares of the stock in a transaction dated Friday, January 6th. The shares were sold at an average price of $72.01, for a total value of $190,826.50. Following the completion of the transaction, the vice president now owns 2,650 shares of the company’s stock, valued at approximately $190,826.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Brian R. Sherras sold 10,000 shares of the stock in a transaction dated Friday, December 16th. The shares were sold at an average price of $70.33, for a total transaction of $703,300.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $703,300. The disclosure for this sale can be found here. Insiders have sold a total of 130,140 shares of company stock valued at $9,443,827 in the last three months. Insiders own 9.50% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC increased its position in shares of Argan by 54.3% in the fourth quarter. FMR LLC now owns 470,525 shares of the company’s stock worth $33,196,000 after buying an additional 165,532 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of Argan by 12,016.5% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 66,641 shares of the company’s stock worth $4,702,000 after buying an additional 66,091 shares during the last quarter. Federated Investors Inc. PA increased its position in shares of Argan by 153,133.3% in the fourth quarter. Federated Investors Inc. PA now owns 45,970 shares of the company’s stock worth $3,243,000 after buying an additional 45,940 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Argan by 3.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 820,100 shares of the company’s stock worth $57,859,000 after buying an additional 28,437 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in shares of Argan during the fourth quarter worth approximately $886,000. 81.73% of the stock is owned by hedge funds and other institutional investors.
Argan (NYSE:AGX) traded down 1.81% on Monday, hitting $73.15. The company had a trading volume of 50,099 shares. Argan has a one year low of $28.37 and a one year high of $76.70. The stock has a market capitalization of $1.12 billion, a PE ratio of 19.81 and a beta of 1.07. The stock has a 50 day moving average of $72.07 and a 200-day moving average of $60.19.
Argan (NYSE:AGX) last posted its quarterly earnings data on Tuesday, December 6th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.74 by $0.42. Argan had a return on equity of 23.01% and a net margin of 9.70%. Equities analysts anticipate that Argan will post $4.06 EPS for the current year.
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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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