Argan (NYSE:AGX) Stock Rating Lowered by StockNews.com

Argan (NYSE:AGX) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

Argan Stock Up 2.3 %

AGX opened at $136.16 on Tuesday. Argan has a 52 week low of $39.74 and a 52 week high of $138.00. The business’s 50 day moving average is $99.55 and its two-hundred day moving average is $80.71. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of 43.09 and a beta of 0.53.

Argan (NYSE:AGX) last issued its quarterly earnings results on Thursday, September 5th. The construction company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.34. The firm had revenue of $227.02 million during the quarter, compared to analysts’ expectations of $191.05 million. Argan had a net margin of 6.11% and a return on equity of 14.80%. The business’s quarterly revenue was up 60.6% on a year-over-year basis.

Insider Transactions at Argan

In other news, Director William F. Leimkuhler sold 10,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $96.20, for a total transaction of $962,000.00. Following the transaction, the director now directly owns 35,852 shares in the company, valued at $3,448,962.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director William F. Leimkuhler sold 10,000 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $96.20, for a total transaction of $962,000.00. Following the transaction, the director now directly owns 35,852 shares of the company’s stock, valued at $3,448,962.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Cynthia Flanders sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $96.39, for a total transaction of $481,950.00. Following the completion of the sale, the director now owns 17,332 shares of the company’s stock, valued at $1,670,631.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,703 shares of company stock worth $4,257,794 over the last 90 days. 11.85% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Argan

Several hedge funds have recently bought and sold shares of AGX. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Argan in the third quarter valued at $43,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Argan in the 2nd quarter valued at about $41,000. Copeland Capital Management LLC purchased a new position in Argan during the 3rd quarter valued at about $56,000. nVerses Capital LLC purchased a new position in Argan during the 3rd quarter valued at about $91,000. Finally, Point72 DIFC Ltd acquired a new position in Argan during the second quarter worth about $70,000. 79.43% of the stock is owned by hedge funds and other 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.