Argan (AGX) Downgraded by TheStreet to “C+”

Argan (NYSE:AGX) was downgraded by stock analysts at TheStreet from a “b-” rating to a “c+” rating in a report issued on Tuesday.

Separately, Lake Street Capital lowered shares of Argan from a “buy” rating to a “hold” rating and decreased their price target for the stock from $71.00 to $56.00 in a research report on Thursday, December 7th.

Shares of Argan (AGX) traded up $0.60 on Tuesday, reaching $39.50. 259,485 shares of the company traded hands, compared to its average volume of 219,566. The company has a market cap of $614.19, a P/E ratio of 7.30 and a beta of 0.78. Argan has a 12-month low of $37.80 and a 12-month high of $74.78.

Argan (NYSE:AGX) last announced its earnings results on Wednesday, December 6th. The construction company reported $1.09 EPS for the quarter. The firm had revenue of $232.95 million for the quarter. Argan had a net margin of 9.18% and a return on equity of 26.24%.

In related news, Director John Ronald Jr. Jeffrey purchased 1,000 shares of the firm’s stock in a transaction on Monday, December 11th. The shares were bought at an average cost of $47.60 per share, for a total transaction of $47,600.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 9.50% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC grew its position in Argan by 1.4% in the 2nd quarter. FMR LLC now owns 477,225 shares of the construction company’s stock worth $28,634,000 after purchasing an additional 6,400 shares during the last quarter. Rational Advisors LLC acquired a new stake in Argan in the 3rd quarter worth $256,000. State Street Corp grew its position in Argan by 6.4% in the 2nd quarter. State Street Corp now owns 262,821 shares of the construction company’s stock worth $15,768,000 after purchasing an additional 15,782 shares during the last quarter. American Century Companies Inc. grew its position in Argan by 112.1% in the 3rd quarter. American Century Companies Inc. now owns 121,675 shares of the construction company’s stock worth $8,183,000 after purchasing an additional 64,313 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Argan by 7.3% during the 2nd quarter. Northern Trust Corp now owns 183,254 shares of the construction company’s stock valued at $10,996,000 after acquiring an additional 12,429 shares in the last quarter. Institutional investors own 83.27% of the company’s stock.

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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.

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