CJS Securities Reiterates “Market Perform” Rating for Argan (NYSE:AGX)

Argan (NYSE:AGX)‘s stock had its “market perform” rating reiterated by investment analysts at CJS Securities in a note issued to investors on Friday,Benzinga reports. They presently have a $150.00 price objective on the construction company’s stock. CJS Securities’ price target would suggest a potential upside of 1.96% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Lake Street Capital downgraded Argan from a “buy” rating to a “hold” rating and lifted their price objective for the company from $85.00 to $150.00 in a research report on Tuesday, December 3rd. StockNews.com cut Argan from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th.

Argan Stock Down 1.1 %

Shares of AGX stock opened at $147.12 on Friday. Argan has a 12 month low of $39.74 and a 12 month high of $165.33. The company has a market cap of $1.99 billion, a PE ratio of 30.78 and a beta of 0.53. The business’s 50 day moving average is $135.32 and its two-hundred day moving average is $97.42.

Argan (NYSE:AGX) last posted its quarterly earnings data on Thursday, December 5th. The construction company reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.74. The company had revenue of $257.00 million during the quarter, compared to analysts’ expectations of $225.60 million. Argan had a return on equity of 14.80% and a net margin of 6.11%. Argan’s quarterly revenue was up 56.9% compared to the same quarter last year.

Insider Transactions at Argan

In other news, Director William F. Leimkuhler sold 10,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $96.20, for a total value of $962,000.00. Following the sale, the director now directly owns 35,852 shares of the company’s stock, valued at approximately $3,448,962.40. This represents a 21.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rainer H. Bosselmann sold 4,598 shares of the business’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $131.01, for a total value of $602,383.98. Following the transaction, the director now directly owns 236,745 shares in the company, valued at approximately $31,015,962.45. This trade represents a 1.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,703 shares of company stock valued at $4,257,794 over the last three months. Company insiders own 11.85% of the company’s stock.

Hedge Funds Weigh In On Argan

Hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP increased its stake in Argan by 81.8% during the 3rd quarter. Wellington Management Group LLP now owns 911,056 shares of the construction company’s stock worth $92,408,000 after acquiring an additional 409,948 shares during the period. American Century Companies Inc. raised its stake in Argan by 31.8% in the second quarter. American Century Companies Inc. now owns 305,298 shares of the construction company’s stock valued at $22,336,000 after purchasing an additional 73,658 shares in the last quarter. Hood River Capital Management LLC bought a new stake in Argan during the second quarter worth about $5,245,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in Argan by 72.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 114,224 shares of the construction company’s stock worth $11,586,000 after buying an additional 47,881 shares in the last quarter. Finally, Sapient Capital LLC bought a new position in Argan in the 3rd quarter valued at about $4,783,000. 79.43% of the stock is owned by institutional investors.

Argan Company Profile

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.