Shares of Argan, Inc. (NYSE:AGX) have been assigned a consensus broker rating score of 2.00 (Buy) from the two analysts that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold rating and one has given a strong buy rating to the company.
Brokers have set a 12 month consensus target price of $70.33 for the company and are forecasting that the company will post $0.91 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Argan an industry rank of 151 out of 265 based on the ratings given to its competitors.
Separately, Lake Street Capital upped their price objective on shares of Argan from $70.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, June 8th.
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In other Argan news, Director Peter W. Getsinger sold 3,000 shares of the stock in a transaction dated Wednesday, April 26th. The stock was sold at an average price of $67.72, for a total transaction of $203,160.00. Following the completion of the transaction, the director now owns 12,500 shares in the company, valued at approximately $846,500. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Henry A. Crumpton sold 30,000 shares of the stock in a transaction dated 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 owns 20,000 shares of the company’s stock, valued at approximately $1,244,800. The disclosure for this sale can be found here. In the last 90 days, insiders sold 51,650 shares of company stock valued at $3,296,992. 9.50% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its position in Argan by 8.6% in the first quarter. Goldman Sachs Group Inc. now owns 98,954 shares of the construction company’s stock worth $6,546,000 after buying an additional 7,805 shares during the period. Credit Suisse AG boosted its position in Argan by 111.5% in the first quarter. Credit Suisse AG now owns 48,065 shares of the construction company’s stock worth $3,180,000 after buying an additional 25,338 shares during the period. Caxton Associates LP purchased a new position in Argan during the first quarter worth about $311,000. Paloma Partners Management Co purchased a new position in Argan during the first quarter worth about $413,000. Finally, AQR Capital Management LLC boosted its position in Argan by 88.3% in the first quarter. AQR Capital Management LLC now owns 142,044 shares of the construction company’s stock worth $9,396,000 after buying an additional 66,609 shares during the period. Hedge funds and other institutional investors own 86.69% of the company’s stock.
Shares of Argan (NYSE:AGX) traded down 0.65% on Tuesday, hitting $61.05. The stock had a trading volume of 118,911 shares. The firm’s 50-day moving average is $64.99 and its 200 day moving average is $68.14. Argan has a 1-year low of $38.83 and a 1-year high of $76.70. The stock has a market cap of $947.43 million, a P/E ratio of 12.25 and a beta of 0.91.
Argan (NYSE:AGX) last released its quarterly earnings data on Wednesday, June 7th. The construction company reported $1.31 EPS for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.42. Argan had a net margin of 10.15% and a return on equity of 27.78%. The business had revenue of $230.49 million during the quarter, compared to analysts’ expectations of $183.10 million. The company’s quarterly revenue was up 76.8% on a year-over-year basis. Equities analysts forecast that Argan will post $4.28 EPS for the current 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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