Argan, Inc. (NYSE:AGX) Receives Average Rating of “Hold” from Analysts

Argan, Inc. (NYSE:AGX) has received a consensus rating of “Hold” from the nine brokerages that are presently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $355.20.

A number of equities research analysts recently weighed in on AGX shares. CJS Securities raised Argan to a “hold” rating in a research report on Thursday, December 11th. Lake Street Capital cut Argan from a “buy” rating to a “hold” rating and upped their price target for the company from $260.00 to $325.00 in a report on Friday, December 5th. Freedom Capital upgraded Argan to a “hold” rating in a research report on Tuesday, March 10th. Weiss Ratings reissued a “buy (b+)” rating on shares of Argan in a report on Wednesday, December 24th. Finally, Zacks Research cut Argan from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd.

Insider Buying and Selling at Argan

In other news, Director John Ronald Jr. Jeffrey sold 5,000 shares of Argan stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $360.78, for a total transaction of $1,803,900.00. Following the sale, the director directly owned 8,192 shares in the company, valued at approximately $2,955,509.76. The trade was a 37.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter W. Getsinger sold 6,595 shares of the company’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $313.71, for a total transaction of $2,068,917.45. Following the completion of the sale, the director directly owned 7,847 shares in the company, valued at approximately $2,461,682.37. The trade was a 45.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 54,915 shares of company stock worth $19,854,754 over the last three months. 6.69% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Emerald Mutual Fund Advisers Trust bought a new position in shares of Argan during the 3rd quarter worth approximately $14,138,000. Thames Capital Management LLC bought a new stake in Argan in the third quarter valued at $11,175,000. Versor Investments LP acquired a new position in Argan during the third quarter worth $971,000. Leavell Investment Management Inc. raised its stake in Argan by 125.3% during the third quarter. Leavell Investment Management Inc. now owns 12,505 shares of the construction company’s stock worth $3,377,000 after acquiring an additional 6,955 shares in the last quarter. Finally, TD Asset Management Inc bought a new position in shares of Argan during the third quarter valued at $35,629,000. Institutional investors own 79.43% of the company’s stock.

Argan Price Performance

NYSE AGX opened at $473.52 on Monday. The company’s fifty day moving average is $406.54 and its two-hundred day moving average is $340.08. Argan has a 52-week low of $111.16 and a 52-week high of $492.70. The firm has a market capitalization of $6.57 billion, a price-to-earnings ratio of 55.77 and a beta of 0.57.

About Argan

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.