Argan (NYSE:AGX - Get Free Report)'s stock had its "market perform" rating reissued by CJS Securities in a report issued on Friday,Benzinga reports. They presently have a $150.00 price target on the construction company's stock. CJS Securities' target price indicates a potential upside of 0.46% from the company's current price.
Other research analysts have also issued reports about the stock. StockNews.com lowered shares of Argan from a "buy" rating to a "hold" rating in a research note on Tuesday, October 29th. Lake Street Capital cut shares of Argan from a "buy" rating to a "hold" rating and raised their price target for the company from $85.00 to $150.00 in a research report on Tuesday.
Check Out Our Latest Stock Analysis on Argan
AGX traded up $0.49 during midday trading on Friday, hitting $149.31. The company had a trading volume of 554,623 shares, compared to its average volume of 177,589. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of 46.95 and a beta of 0.53. The stock's 50 day moving average price is $134.38 and its 200 day moving average price is $96.64. Argan has a 52 week low of $39.74 and a 52 week high of $165.33.
Argan (NYSE:AGX - Get Free Report) last posted its quarterly earnings results on Thursday, December 5th. The construction company reported $2.00 earnings per share for the quarter, topping analysts' consensus estimates of $1.26 by $0.74. Argan had a return on equity of 14.80% and a net margin of 6.11%. The business had revenue of $257.00 million for the quarter, compared to the consensus estimate of $225.60 million. Argan's revenue for the quarter was up 56.9% on a year-over-year basis.
In related news, Director Rainer H. Bosselmann sold 10,105 shares of Argan stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $130.10, for a total value of $1,314,660.50. Following the sale, the director now owns 219,879 shares of the company's stock, valued at approximately $28,606,257.90. The trade was a 4.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James W. Quinn sold 10,000 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $89.68, for a total value of $896,800.00. Following the transaction, the director now directly owns 70,422 shares of the company's stock, valued at approximately $6,315,444.96. This trade represents a 12.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,703 shares of company stock worth $4,257,794 in the last 90 days. Insiders own 11.85% of the company's stock.
Institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP raised its stake in Argan by 81.8% in the 3rd quarter. Wellington Management Group LLP now owns 911,056 shares of the construction company's stock valued at $92,408,000 after acquiring an additional 409,948 shares during the period. Vanguard Group Inc. raised its position in shares of Argan by 1.7% in the first quarter. Vanguard Group Inc. now owns 726,171 shares of the construction company's stock valued at $36,701,000 after purchasing an additional 12,162 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Argan by 7.7% during the 2nd quarter. Renaissance Technologies LLC now owns 537,296 shares of the construction company's stock valued at $39,309,000 after buying an additional 38,300 shares in the last quarter. State Street Corp boosted its holdings in Argan by 4.8% in the 3rd quarter. State Street Corp now owns 353,984 shares of the construction company's stock worth $35,905,000 after buying an additional 16,055 shares during the period. Finally, American Century Companies Inc. grew its stake in Argan by 31.8% in the 2nd quarter. American Century Companies Inc. now owns 305,298 shares of the construction company's stock valued at $22,336,000 after buying an additional 73,658 shares in the last quarter. Hedge funds and other institutional investors own 79.43% of the company's stock.
Argan, Inc, through its subsidiaries, provides engineering, procurement, construction, commissioning, maintenance, project development, and technical consulting services to the power generation market. The company operates through Power Services, Industrial Services, and Telecom Services segments. The Power Services segment offers engineering, procurement, and construction, as well as designing, building, and commissioning of large-scale energy projects to the owners of alternative energy facilities, such as biomass plants, wind farms, and solar fields; and design, construction, project management, start-up, and operation services for projects with approximately 18 gigawatts of power-generating capacity.
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