Argan (NYSE:AGX) Upgraded at Lake Street Capital

Lake Street Capital upgraded shares of Argan (NYSE:AGX) from a hold rating to a buy rating in a report issued on Thursday, Marketbeat.com reports. They currently have $600.00 price objective on the construction company’s stock.

A number of other research firms also recently weighed in on AGX. Weiss Ratings raised Argan from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, August 27th. Zacks Research downgraded Argan from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. Finally, Wall Street Zen lowered shares of Argan from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $470.40.

Argan Trading Up 1.4%

NYSE AGX opened at $417.52 on Thursday. Argan has a 1-year low of $197.00 and a 1-year high of $805.75. The firm’s fifty day simple moving average is $572.83 and its 200-day simple moving average is $583.47. The company has a market capitalization of $5.86 billion, a PE ratio of 33.03 and a beta of 0.57.

Argan (NYSE:AGX) last released its quarterly earnings data on Wednesday, September 2nd. The construction company reported $3.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $1.12. Argan had a return on equity of 38.51% and a net margin of 15.09%.The firm had revenue of $383.98 million during the quarter, compared to analysts’ expectations of $300.53 million. During the same quarter last year, the firm earned $2.50 earnings per share. The business’s revenue for the quarter was up 61.5% on a year-over-year basis. As a group, analysts predict that Argan will post 13.44 EPS for the current year.

Argan Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Thursday, July 23rd were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Thursday, July 23rd. Argan’s dividend payout ratio is presently 15.82%.

Insider Activity at Argan

In other Argan news, Chairman William Griffin, Jr. sold 50,000 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $643.46, for a total value of $32,173,000.00. Following the completion of the sale, the chairman owned 90,976 shares of the company’s stock, valued at $58,539,416.96. The trade was a 35.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Jeffrey, Jr. sold 5,716 shares of the business’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $579.64, for a total value of $3,313,222.24. Following the completion of the sale, the director directly owned 2,533 shares of the company’s stock, valued at $1,468,228.12. This represents a 69.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 127,973 shares of company stock valued at $87,554,828. Insiders own 2.99% of the company’s stock.

Institutional Investors Weigh In On Argan

A number of large investors have recently added to or reduced their stakes in the stock. Western Wealth Management LLC acquired a new position in Argan during the first quarter valued at approximately $25,000. Danske Bank A S acquired a new stake in shares of Argan in the third quarter worth $27,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Argan in the fourth quarter worth $30,000. Hilton Head Capital Partners LLC bought a new stake in shares of Argan during the 4th quarter worth $31,000. Finally, SJS Investment Consulting Inc. boosted its holdings in shares of Argan by 2,950.0% during the 1st quarter. SJS Investment Consulting Inc. now owns 61 shares of the construction company’s stock worth $33,000 after buying an additional 59 shares during the period. Institutional investors own 79.43% of the company’s stock.

Trending Headlines about Argan

Here are the key news stories impacting Argan this week:

• Positive Sentiment: Lake Street upgraded AGX to Buy from Hold and set a $600 price target, citing improved fundamentals and growth prospects. Based on the referenced price of $417.52, the target implies substantial potential upside. Lake Street upgrades Argan to Buy from Hold
• Positive Sentiment: Argan’s fiscal second-quarter results significantly exceeded expectations. Earnings per share came in at $3.76 versus the $2.64 consensus estimate, while revenue reached $383.98 million compared with expectations of $300.53 million. Revenue increased 61.5% year over year, and the company reported a 15.09% net margin and 38.51% return on equity. Why Argan Stock Just Popped
• Positive Sentiment: Power-segment growth and margin expansion strengthened the outlook. Analysts highlighted approximately 53% Power revenue growth, solid project margins and a backlog of roughly $2.5 billion. Demand tied to electrification, data centers and domestic manufacturing could support continued demand for Argan’s power-infrastructure construction services. Argan Stock Rises on Q2 Earnings and Revenue Beat
• Neutral Sentiment: Management pointed to a strong gas-project pipeline and plans to expand capacity, but cautioned that revenue growth may moderate in the near term as project timing and execution affect results. Argan Q2 Earnings Call Highlights

Argan Company Profile

Argan, Inc (NYSE: AGX) is a holding company that provides professional technical and management services to the power generation and renewable energy industries. Through its wholly owned subsidiaries, the company delivers engineering, procurement and construction management (EPCM), commissioning and operations and maintenance (O&M) services for a broad range of energy facilities. Argan focuses on projects for utility, industrial and municipally owned clients, helping to bring efficient thermal and renewable energy plants into operation and maintain optimal performance over the asset life cycle.

The company’s principal subsidiaries include Gemma Power Systems, which specializes in turnkey construction of combined-cycle, simple-cycle, cogeneration and renewable energy plants; Atlantic Projects Company, which provides electrical balance-of-plant, control systems, instrumentation and commissioning services; and Infrastructure Solutions, which offers industrial maintenance, outage support and modification services.