Argan (NYSE:AGX) Stock Rating Upgraded by Lake Street Capital

Argan (NYSE:AGX) was upgraded by stock analysts at Lake Street Capital from a “hold” rating to a “buy” rating in a research note issued on Friday, MarketBeat Ratings reports. The firm presently has a $150.00 target price on the construction company’s stock. Lake Street Capital’s price target would indicate a potential upside of 8.06% from the company’s previous close.

Separately, CJS Securities reiterated a “market perform” rating and issued a $150.00 price objective on shares of Argan in a report on Friday, December 6th.

Argan Stock Up 20.5 %

Shares of NYSE:AGX opened at $138.81 on Friday. Argan has a 52-week low of $48.85 and a 52-week high of $191.46. The stock has a market cap of $1.88 billion, a P/E ratio of 29.04 and a beta of 0.58. The business has a fifty day moving average of $136.07 and a two-hundred day moving average of $134.76.

Argan (NYSE:AGX) last announced its quarterly earnings data on Thursday, March 27th. The construction company reported $2.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $1.07. Argan had a net margin of 8.20% and a return on equity of 21.66%. The firm had revenue of $232.47 million during the quarter, compared to analyst estimates of $197.50 million. The company’s quarterly revenue was up 41.3% compared to the same quarter last year.

Insider Buying and Selling at Argan

In other news, Director Peter W. Getsinger sold 7,385 shares of the business’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $165.29, for a total value of $1,220,666.65. Following the sale, the director now directly owns 11,792 shares of the company’s stock, valued at approximately $1,949,099.68. The trade was a 38.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Richard H. Deily sold 2,000 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $150.00, for a total transaction of $300,000.00. Following the transaction, the chief financial officer now directly owns 9,367 shares of the company’s stock, valued at $1,405,050. The trade was a 17.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,185 shares of company stock valued at $1,644,859 over the last 90 days. 11.85% of the stock is owned by insiders.

Institutional Investors Weigh In On Argan

Several institutional investors and hedge funds have recently modified their holdings of AGX. Spire Wealth Management acquired a new position in Argan in the 4th quarter valued at about $26,000. Farther Finance Advisors LLC purchased a new position in shares of Argan in the fourth quarter valued at approximately $32,000. Global Retirement Partners LLC purchased a new position in shares of Argan in the fourth quarter valued at approximately $35,000. McIlrath & Eck LLC grew its holdings in shares of Argan by 419.4% in the fourth quarter. McIlrath & Eck LLC now owns 374 shares of the construction company’s stock valued at $51,000 after purchasing an additional 302 shares in the last quarter. Finally, Truvestments Capital LLC purchased a new stake in Argan during the 4th quarter worth approximately $57,000. Hedge funds and other institutional investors own 79.43% of the company’s stock.

About Argan

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.