Zacks: Argan, Inc. (NYSE:AGX) Receives Consensus Rating of “” from Brokerages
Argan, Inc. (NYSE:AGX) has earned an average broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating. Argan’s rating score has improved by 50% in the last 90 days as a result of various analysts’ ratings changes.
Analysts have set a one year consensus price target 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 related companies.
Several equities analysts have commented on the company. BidaskClub raised Argan from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 19th. Sidoti began coverage on Argan in a report on Wednesday, June 28th. They issued a “neutral” rating for the company. Finally, Lake Street Capital upped their target price on Argan from $70.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday, June 8th.
Shares of Argan (AGX) traded up 0.46% during mid-day trading on Tuesday, reaching $66.15. The company had a trading volume of 30,758 shares. The firm has a 50-day moving average price of $62.24 and a 200-day moving average price of $66.36. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 13.27 and a beta of 0.91. Argan has a 1-year low of $45.51 and a 1-year high of $76.70.
Argan (NYSE:AGX) last announced its quarterly earnings data on Wednesday, June 7th. The construction company reported $1.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.42. The company had revenue of $230.49 million for 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 company’s revenue for the quarter was up 76.8% compared to the same quarter last year. Equities analysts expect that Argan will post $4.23 earnings per share for the current year.
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In other news, Director John Ronald Jr. Jeffrey bought 1,000 shares of the stock in a transaction on Monday, June 26th. The stock was acquired at an average cost of $60.95 per share, for a total transaction of $60,950.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Henry A. Crumpton sold 30,000 shares of the company’s 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 completion of the sale, the director now owns 20,000 shares of the company’s stock, valued at $1,244,800. The disclosure for this sale can be found here. 7.64% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of the company. Meeder Asset Management Inc. boosted 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 stake 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 in the last quarter. Creative Planning boosted its stake 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 in the last quarter. Legal & General Group Plc boosted its stake 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 in the last quarter. Finally, Private Advisor Group LLC purchased a new stake in shares of Argan during the first quarter valued at $210,000. Institutional investors and hedge funds own 86.08% of the company’s stock.
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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