Shares of Argan, Inc. (NYSE:AGX) have earned an average broker rating score of 1.00 (Strong Buy) from the one analysts that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating.
Brokers have set a 1-year consensus target price of $56.00 for the company, according to Zacks. Zacks has also given Argan an industry rank of 167 out of 255 based on the ratings given to its competitors.
Shares of Argan stock opened at $40.10 on Friday. Argan has a 52 week low of $34.90 and a 52 week high of $69.95. The company has a market capitalization of $626.64 million, a price-to-earnings ratio of 11.15 and a beta of 0.85.
Argan (NYSE:AGX) last announced its quarterly earnings data on Monday, June 11th. The construction company reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.03). Argan had a net margin of 7.00% and a return on equity of 16.11%. The firm had revenue of $141.40 million during the quarter, compared to analyst estimates of $122.93 million. During the same period last year, the business posted $1.31 EPS. The company’s revenue was down 38.7% on a year-over-year basis.
In other news, Director John Ronald Jr. Jeffrey acquired 1,500 shares of Argan stock in a transaction on Tuesday, July 31st. The stock was purchased at an average price of $38.24 per share, with a total value of $57,360.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 7.50% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp grew its stake in Argan by 6.9% in the second quarter. Bank of New York Mellon Corp now owns 156,452 shares of the construction company’s stock valued at $6,406,000 after acquiring an additional 10,081 shares during the period. Ashford Capital Management Inc. boosted its position in shares of Argan by 9.4% during the second quarter. Ashford Capital Management Inc. now owns 563,599 shares of the construction company’s stock valued at $23,079,000 after buying an additional 48,336 shares during the last quarter. California Public Employees Retirement System boosted its position in shares of Argan by 40.9% during the second quarter. California Public Employees Retirement System now owns 28,104 shares of the construction company’s stock valued at $1,151,000 after buying an additional 8,164 shares during the last quarter. Dean Capital Management purchased a new position in shares of Argan during the second quarter valued at approximately $1,701,000. Finally, Raymond James & Associates purchased a new position in shares of Argan during the second quarter valued at approximately $1,353,000. 76.30% of the stock is owned by hedge funds and other institutional investors.
Argan, Inc, through its subsidiaries, provides engineering, procurement, construction, commissioning, operations management, maintenance, development, technical, and consulting services to the power generation and renewable energy markets. The company's Power Industry Services segment offers engineering, procurement, and construction contracting services 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 44 projects with approximately 15,000 megawatts of power-generating capacity.
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