Key Points
- Director sale: Argan director John Ronald Jr. Jeffrey sold 5,000 shares on Jan. 27 at an average of $360.78 for $1,803,900, reducing his holding by 37.9% to 8,192 shares; he also sold 2,700 shares on Jan. 20 at $380.60 (~$1,027,620).
- Company and market context: Argan reported quarterly EPS of $2.17 (beat estimates) while revenue slightly missed, and announced a quarterly dividend of $0.50 (annualized $2.00, 0.6% yield). The stock trades with a ~$4.92B market cap and a MarketBeat consensus target of $355.20 (Moderate Buy).
Argan, Inc. (NYSE:AGX - Get Free Report) Director John Ronald Jr. Jeffrey sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $360.78, for a total value of $1,803,900.00. Following the completion of the transaction, the director owned 8,192 shares in the company, valued at $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 available at this hyperlink.
John Ronald Jr. Jeffrey also recently made the following trade(s):
- On Tuesday, January 20th, John Ronald Jr. Jeffrey sold 2,700 shares of Argan stock. The stock was sold at an average price of $380.60, for a total value of $1,027,620.00.
Argan Trading Down 1.2%
AGX stock opened at $354.54 on Friday. The stock has a market cap of $4.92 billion, a P/E ratio of 41.76 and a beta of 0.64. The stock's fifty day simple moving average is $341.23 and its two-hundred day simple moving average is $288.46. Argan, Inc. has a 1-year low of $101.02 and a 1-year high of $400.00.
Argan (NYSE:AGX - Get Free Report) last released its earnings results on Thursday, December 4th. The construction company reported $2.17 EPS for the quarter, topping analysts' consensus estimates of $1.82 by $0.35. The company had revenue of $251.15 million for the quarter, compared to analysts' expectations of $251.50 million. Argan had a return on equity of 31.38% and a net margin of 13.11%.The business's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.00 EPS.
Argan Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Thursday, January 22nd will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Thursday, January 22nd. Argan's dividend payout ratio is currently 23.56%.
Hedge Funds Weigh In On Argan
A number of large investors have recently modified their holdings of AGX. First Trust Advisors LP grew its stake in Argan by 14,436.3% during the second quarter. First Trust Advisors LP now owns 329,393 shares of the construction company's stock valued at $72,624,000 after acquiring an additional 327,127 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Argan by 696.9% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 296,988 shares of the construction company's stock valued at $65,480,000 after purchasing an additional 259,720 shares in the last quarter. Jupiter Asset Management Ltd. increased its holdings in shares of Argan by 1,142.2% in the second quarter. Jupiter Asset Management Ltd. now owns 188,665 shares of the construction company's stock worth $41,597,000 after purchasing an additional 173,477 shares during the period. Balyasny Asset Management L.P. raised its position in shares of Argan by 168.9% in the second quarter. Balyasny Asset Management L.P. now owns 253,365 shares of the construction company's stock worth $55,862,000 after buying an additional 159,149 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Argan by 172.5% during the second quarter. Invesco Ltd. now owns 229,893 shares of the construction company's stock valued at $50,687,000 after buying an additional 145,516 shares during the period. 79.43% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on the company. Zacks Research raised Argan from a "hold" rating to a "strong-buy" rating in a report on Thursday, December 11th. The Goldman Sachs Group initiated coverage on Argan in a research note on Tuesday, November 11th. They set a "buy" rating and a $397.00 price target for the company. Lake Street Capital cut Argan from a "buy" rating to a "hold" rating and boosted their price objective for the company from $260.00 to $325.00 in a research note on Friday, December 5th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $370.00 price objective (up from $315.00) on shares of Argan in a report on Monday, December 1st. Finally, Weiss Ratings reissued a "buy (b+)" rating on shares of Argan in a research report on Wednesday, December 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $355.20.
View Our Latest Report on AGX
Argan Company Profile
(
Get Free Report)
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.
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