Argan, Inc. (NYSE:AGX) Receives $355.20 Average PT from Brokerages

Shares of Argan, Inc. (NYSE:AGX) have been assigned an average rating of “Hold” from the nine ratings firms that are currently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $355.20.

A number of research analysts have weighed in on the stock. Freedom Capital raised shares of Argan to a “hold” rating in a research report on Tuesday, March 10th. Lake Street Capital downgraded shares of Argan from a “buy” rating to a “hold” rating and raised their target price for the company from $260.00 to $325.00 in a research note on Friday, December 5th. Weiss Ratings restated a “buy (b+)” rating on shares of Argan in a report on Wednesday, December 24th. CJS Securities raised shares of Argan to a “hold” rating in a research report on Thursday, December 11th. Finally, Zacks Research downgraded Argan from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd.

Insider Buying and Selling

In other news, Director Cynthia Flanders sold 19,000 shares of the stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $386.70, for a total value of $7,347,300.00. Following the completion of the sale, the director owned 26,207 shares in the company, valued at approximately $10,134,246.90. This trade represents a 42.03% 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 link. Also, Director John Ronald Jr. Jeffrey sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $360.78, for a total value of $1,803,900.00. Following the sale, the director owned 8,192 shares in the company, valued at approximately $2,955,509.76. The trade was a 37.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 54,915 shares of company stock worth $19,854,754 in the last ninety days. 6.69% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its holdings in Argan by 5.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 541 shares of the construction company’s stock valued at $170,000 after purchasing an additional 30 shares in the last quarter. National Bank of Canada FI increased its stake in Argan by 26.7% during the 3rd quarter. National Bank of Canada FI now owns 147 shares of the construction company’s stock worth $40,000 after buying an additional 31 shares during the period. Pallas Capital Advisors LLC lifted its holdings in Argan by 1.3% in the 4th quarter. Pallas Capital Advisors LLC now owns 2,564 shares of the construction company’s stock worth $803,000 after buying an additional 34 shares in the last quarter. Ring Mountain Capital LLC boosted its position in Argan by 1.3% in the 3rd quarter. Ring Mountain Capital LLC now owns 2,735 shares of the construction company’s stock valued at $739,000 after buying an additional 35 shares during the last quarter. Finally, Spirepoint Private Client LLC grew its stake in shares of Argan by 3.1% during the fourth quarter. Spirepoint Private Client LLC now owns 1,231 shares of the construction company’s stock valued at $386,000 after acquiring an additional 37 shares in the last quarter. 79.43% of the stock is owned by institutional investors and hedge funds.

Argan Price Performance

NYSE AGX opened at $470.86 on Monday. Argan has a 1-year low of $111.16 and a 1-year high of $485.70. The firm has a market capitalization of $6.53 billion, a P/E ratio of 55.46 and a beta of 0.57. The business’s 50-day simple moving average is $399.97 and its 200-day simple moving average is $335.79.

About Argan

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.