Argan, Inc. (AGX) Receives Consensus Recommendation of “Strong Buy” from Analysts

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Shares of Argan, Inc. (NYSE:AGX) have earned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation.

Brokers have set a 1 year consensus target price of $56.00 for the company, according to Zacks. Zacks has also assigned Argan an industry rank of 195 out of 255 based on the ratings given to its competitors.

Shares of NYSE:AGX traded down $0.92 during mid-day trading on Tuesday, reaching $48.11. 91,382 shares of the company’s stock were exchanged, compared to its average volume of 141,567. The firm has a market cap of $749.12 million, a PE ratio of 12.18 and a beta of 0.95. Argan has a twelve month low of $34.90 and a twelve month high of $50.00.

Several large investors have recently modified their holdings of AGX. Legal & General Group Plc lifted its holdings in shares of Argan by 20.1% during the fourth quarter. Legal & General Group Plc now owns 2,663 shares of the construction company’s stock worth $100,000 after purchasing an additional 446 shares during the period. Metropolitan Life Insurance Co. NY lifted its holdings in Argan by 370.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 4,910 shares of the construction company’s stock valued at $186,000 after buying an additional 3,867 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in Argan in the third quarter valued at $344,000. Cerity Partners LLC lifted its holdings in Argan by 19.6% in the fourth quarter. Cerity Partners LLC now owns 11,027 shares of the construction company’s stock valued at $417,000 after buying an additional 1,808 shares during the period. Finally, MetLife Investment Advisors LLC lifted its holdings in Argan by 63.0% in the third quarter. MetLife Investment Advisors LLC now owns 10,007 shares of the construction company’s stock valued at $430,000 after buying an additional 3,867 shares during the period. Institutional investors own 84.94% of the company’s stock.

Argan Company Profile

Argan, Inc, through its subsidiaries, provides engineering, procurement, construction, commissioning, operations management, maintenance, development, technical, and consulting services to the power generation and renewable energy markets. The company's Power Industry Services segment offers engineering, procurement, and construction contracting services 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 44 projects with approximately 15,000 megawatts of power-generating capacity.

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