Argan, Inc. (NYSE:AGX) issued its quarterly earnings results on Thursday. The construction company reported $1.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.69, Briefing.com reports. The firm had revenue of $259.80 million during the quarter, compared to the consensus estimate of $217.75 million. Argan had a return on equity of 27.78% and a net margin of 10.15%. The company’s revenue for the quarter was up 59.9% on a year-over-year basis. During the same quarter last year, the company posted $1.29 EPS.

Shares of Argan (NYSE AGX) traded down 1.18% during mid-day trading on Thursday, reaching $62.60. The company’s stock had a trading volume of 144,421 shares. The company has a market cap of $971.49 million, a PE ratio of 12.56 and a beta of 0.91. Argan has a 52-week low of $51.27 and a 52-week high of $76.70. The company has a 50-day moving average price of $62.81 and a 200 day moving average price of $64.61.

A number of analysts recently weighed in on AGX shares. 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. Sidoti started coverage on Argan in a research report on Wednesday, June 28th. They issued a “neutral” rating for the company. Finally, BidaskClub upgraded Argan from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. Argan has an average rating of “Hold” and a consensus price target of $75.00.

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In related news, Director Henry A. Crumpton sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $62.24, for a total transaction of $1,867,200.00. Following the completion of the sale, 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 through this hyperlink. Also, Director John Ronald Jr. Jeffrey purchased 1,000 shares of the firm’s stock in a transaction that occurred on Monday, June 26th. The shares were acquired at an average cost of $60.95 per share, with a total value of $60,950.00. The disclosure for this purchase can be found here. 9.50% of the stock is owned by company insiders.

About Argan

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.

Earnings History for Argan (NYSE:AGX)

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