Argan (NYSE:AGX) Announces Earnings Results

Argan (NYSE:AGX) announced its quarterly earnings results 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 firm had revenue of $232.47 million for the quarter, compared to analysts’ expectations of $197.50 million. The firm’s revenue for the quarter was up 41.3% on a year-over-year basis.

Argan Stock Up 20.5 %

AGX opened at $138.81 on Friday. The firm has a market capitalization of $1.88 billion, a P/E ratio of 29.04 and a beta of 0.58. The firm’s 50 day moving average is $136.07 and its 200-day moving average is $134.44. Argan has a 52-week low of $48.85 and a 52-week high of $191.46.

Insider Activity at Argan

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AGX. Lake Street Capital upgraded shares of Argan from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a report on Friday. CJS Securities restated a “market perform” rating and set a $150.00 price objective 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.