Lake Street Capital Upgrades Argan (NYSE:AGX) to “Buy”

Lake Street Capital upgraded shares of Argan (NYSE:AGX) from a hold rating to a buy rating in a research report sent to investors on Friday, Marketbeat.com reports. They currently have $150.00 price target on the construction company’s stock.

Separately, CJS Securities reaffirmed a “market perform” rating and set a $150.00 target price on shares of Argan in a report on Friday, December 6th.

Argan Trading Up 20.5 %

NYSE AGX opened at $138.81 on Friday. Argan has a 12-month low of $48.85 and a 12-month high of $191.46. The company has a fifty day simple moving average of $136.07 and a two-hundred day simple moving average of $135.08. The stock has a market cap of $1.88 billion, a P/E ratio of 29.04 and a beta of 0.58.

Argan (NYSE:AGX) last issued its earnings results on Thursday, March 27th. The construction company reported $2.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $1.07. Argan had a return on equity of 21.66% and a net margin of 8.20%. The company had revenue of $232.47 million during the quarter, compared to analyst estimates of $197.50 million. The business’s revenue for the quarter was up 41.3% compared to the same quarter last year.

Insider Activity at Argan

In other news, CFO Richard H. Deily sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $150.00, for a total value of $300,000.00. Following the completion of the sale, the chief financial officer now directly owns 9,367 shares in the company, valued at $1,405,050. The trade was a 17.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Peter W. Getsinger sold 7,385 shares of the stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $165.29, for a total value of $1,220,666.65. Following the transaction, the director now owns 11,792 shares in the company, valued at $1,949,099.68. This trade represents a 38.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,185 shares of company stock worth $1,644,859 over the last three months. Company insiders own 11.85% of the company’s stock.

Hedge Funds Weigh In On Argan

Hedge funds have recently made changes to their positions in the company. Spire Wealth Management acquired a new stake in Argan in the 4th quarter valued at about $26,000. Farther Finance Advisors LLC acquired a new stake in shares of Argan in the 4th quarter worth $32,000. Global Retirement Partners LLC acquired a new stake in shares of Argan in the 4th quarter worth $35,000. McIlrath & Eck LLC boosted its position in shares of Argan by 419.4% during the 4th quarter. McIlrath & Eck LLC now owns 374 shares of the construction company’s stock valued at $51,000 after acquiring an additional 302 shares during the last quarter. Finally, Truvestments Capital LLC purchased a new stake in shares of Argan in the fourth quarter valued at about $57,000. Institutional investors and hedge funds own 79.43% of the company’s stock.

About Argan

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.