Argan (NYSE:AGX) Upgraded to Strong-Buy at Freedom Broker

Freedom Broker upgraded shares of Argan (NYSE:AGX) from a hold rating to a strong-buy rating in a research note issued to investors on Friday,Zacks reports.

Other research analysts have also recently issued research reports about the stock. Zacks Research cut shares of Argan from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. Wall Street Zen upgraded shares of Argan from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings raised shares of Argan from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, August 27th. Finally, Lake Street Capital upgraded shares of Argan from a “hold” rating to a “buy” rating and set a $600.00 price target for the company in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $470.40.

Argan Price Performance

NYSE AGX opened at $417.52 on Friday. The company has a market cap of $5.86 billion, a P/E ratio of 33.03 and a beta of 0.57. The stock has a 50-day moving average of $572.83 and a two-hundred day moving average of $583.47. Argan has a 1-year low of $197.00 and a 1-year high of $805.75.

Argan (NYSE:AGX) last issued its quarterly earnings results on Wednesday, September 2nd. The construction company reported $3.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $1.12. The company had revenue of $383.98 million for the quarter, compared to analyst estimates of $300.53 million. Argan had a net margin of 15.09% and a return on equity of 38.51%. The business’s revenue for the quarter was up 61.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.50 earnings per share. On average, analysts anticipate that Argan will post 12.6 EPS for the current fiscal year.

Argan Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Thursday, July 23rd were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, July 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.5%. Argan’s payout ratio is currently 15.82%.

Insider Activity

In related news, CFO Joshua Baugher sold 760 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $733.30, for a total value of $557,308.00. Following the sale, the chief financial officer owned 1,479 shares of the company’s stock, valued at $1,084,550.70. This trade represents a 33.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Karen Sweeney sold 300 shares of Argan stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $705.00, for a total transaction of $211,500.00. Following the completion of the transaction, the director owned 1,548 shares of the company’s stock, valued at $1,091,340. This represents a 16.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 127,973 shares of company stock valued at $87,554,828. 2.99% of the stock is owned by corporate insiders.

Institutional Trading of Argan

A number of hedge funds and other institutional investors have recently bought and sold shares of AGX. International Assets Investment Management LLC boosted its position in shares of Argan by 2.0% during the 1st quarter. International Assets Investment Management LLC now owns 775 shares of the construction company’s stock worth $443,000 after acquiring an additional 15 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Argan by 5.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 541 shares of the construction company’s stock worth $170,000 after purchasing an additional 30 shares during the last quarter. Baader Bank Aktiengesellschaft boosted its holdings in Argan by 0.6% in the first quarter. Baader Bank Aktiengesellschaft now owns 5,030 shares of the construction company’s stock valued at $2,734,000 after purchasing an additional 30 shares in the last quarter. National Bank of Canada FI increased its stake in Argan by 26.7% in the third quarter. National Bank of Canada FI now owns 147 shares of the construction company’s stock valued at $40,000 after purchasing an additional 31 shares during the last quarter. Finally, Western Wealth Management LLC acquired a new stake in Argan during the first quarter worth approximately $25,000. 79.43% of the stock is currently owned by institutional investors and hedge funds.

Argan News Summary

Here are the key news stories impacting Argan this week:

• Positive Sentiment: Lake Street upgraded AGX to Buy from Hold and set a $600 price target, citing improved fundamentals and growth prospects. Based on the referenced price of $417.52, the target implies substantial potential upside. Lake Street upgrades Argan to Buy from Hold
• Positive Sentiment: Argan’s fiscal second-quarter results significantly exceeded expectations. Earnings per share came in at $3.76 versus the $2.64 consensus estimate, while revenue reached $383.98 million compared with expectations of $300.53 million. Revenue increased 61.5% year over year, and the company reported a 15.09% net margin and 38.51% return on equity. Why Argan Stock Just Popped
• Positive Sentiment: Power-segment growth and margin expansion strengthened the outlook. Analysts highlighted approximately 53% Power revenue growth, solid project margins and a backlog of roughly $2.5 billion. Demand tied to electrification, data centers and domestic manufacturing could support continued demand for Argan’s power-infrastructure construction services. Argan Stock Rises on Q2 Earnings and Revenue Beat
• Neutral Sentiment: Management pointed to a strong gas-project pipeline and plans to expand capacity, but cautioned that revenue growth may moderate in the near term as project timing and execution affect results. Argan Q2 Earnings Call Highlights

Argan Company Profile

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.