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

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

A number of other brokerages have also issued reports on AGX. StockNews.com lowered Argan from a “buy” rating to a “hold” rating in a research report on Tuesday, October 29th. Lake Street Capital cut shares of Argan from a “buy” rating to a “hold” rating and raised their target price for the company from $85.00 to $150.00 in a research note on Tuesday, December 3rd.

Argan Stock Performance

Argan stock opened at $147.12 on Friday. Argan has a one year low of $39.74 and a one year high of $165.33. The company has a 50-day simple moving average of $135.32 and a 200-day simple moving average of $97.42. The firm has a market capitalization of $1.99 billion, a P/E ratio of 30.78 and a beta of 0.53.

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

Insiders Place Their Bets

In other news, Director James W. Quinn sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $89.68, for a total transaction of $896,800.00. Following the sale, the director now directly owns 70,422 shares of the company’s stock, valued at $6,315,444.96. The trade was a 12.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Cynthia Flanders sold 5,000 shares of the stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $96.39, for a total value of $481,950.00. Following the completion of the transaction, the director now owns 17,332 shares of the company’s stock, valued at $1,670,631.48. This trade represents a 22.39 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,703 shares of company stock worth $4,257,794. 11.85% of the stock is owned by corporate insiders.

Institutional Trading of Argan

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

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.