Argan (NYSE:AGX) Issues Earnings Results

Argan (NYSE:AGX) posted its quarterly earnings data on Thursday. The construction company reported $2.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $1.07, Briefing.com reports. Argan had a net margin of 8.20% and a return on equity of 21.66%. The company had revenue of $232.47 million during the quarter, compared to analysts’ expectations of $197.50 million. The firm’s revenue was up 41.3% on a year-over-year basis.

Argan Stock Performance

AGX opened at $114.91 on Friday. The company has a market capitalization of $1.56 billion, a P/E ratio of 24.04 and a beta of 0.58. The company has a 50-day moving average of $136.85 and a 200-day moving average of $134.13. Argan has a 1-year low of $48.85 and a 1-year high of $191.46.

Insider Transactions at Argan

In other Argan news, Director Peter W. Getsinger sold 800 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $155.24, for a total transaction of $124,192.00. Following the completion of the sale, the director now owns 19,177 shares in the company, valued at $2,977,037.48. The trade was a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Richard H. Deily sold 2,000 shares of Argan stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $150.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief financial officer now directly owns 9,367 shares of the company’s stock, valued at $1,405,050. This trade represents a 17.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,185 shares of company stock valued at $1,644,859. Insiders own 11.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on AGX shares. Lake Street Capital raised Argan from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a report on Friday. CJS Securities reiterated a “market perform” rating and set a $150.00 target price on shares of Argan in a research note on Friday, December 6th.

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.