Zacks: Argan, Inc. (AGX) Given Average Rating of “Strong Buy” by Analysts
Argan, Inc. (NYSE:AGX) has received an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating.
Brokers have set a 1-year consensus price objective of $56.00 for the company, according to Zacks. Zacks has also given Argan an industry rank of 99 out of 255 based on the ratings given to related companies.
Separately, TheStreet upgraded shares of Argan from a “c+” rating to a “b-” rating in a report on Wednesday, September 12th.
Large investors have recently modified their holdings of the stock. Fortis Advisors LLC acquired a new stake in shares of Argan during the first quarter worth $125,000. John G Ullman & Associates Inc. acquired a new stake in Argan in the 2nd quarter valued at $201,000. Aperio Group LLC acquired a new stake in Argan in the 1st quarter valued at $219,000. Cubist Systematic Strategies LLC acquired a new stake in Argan in the 1st quarter valued at $233,000. Finally, US Bancorp DE increased its stake in Argan by 61.4% in the 1st quarter. US Bancorp DE now owns 6,700 shares of the construction company’s stock valued at $288,000 after buying an additional 2,550 shares during the last quarter. Institutional investors and hedge funds own 76.36% of the company’s stock.
Shares of NYSE AGX opened at $44.05 on Thursday. The firm has a market cap of $685.81 million, a PE ratio of 14.83 and a beta of 0.97. Argan has a twelve month low of $34.90 and a twelve month high of $69.95.
Argan (NYSE:AGX) last issued its quarterly earnings data on Wednesday, September 5th. The construction company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.68. Argan had a net margin of 6.77% and a return on equity of 12.98%. The business had revenue of $136.67 million for the quarter.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 31st. Investors of record on Wednesday, October 24th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, October 23rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.27%.
Argan Company Profile
Argan, Inc operates as a holding company which provides consulting, engineering, procurement, construction, commissioning, operations and maintenance services to the power generation and renewable energy. It operates through the following segments: Power, Telecom, Industrial, and Others. The company was founded in May 1961 and is headquartered in Rockville, MD.
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