Argan (NYSE:AGX) Rating Lowered to Hold at StockNews.com

Argan (NYSE:AGX) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Tuesday.

Argan Price Performance

AGX traded up $1.80 during midday trading on Tuesday, reaching $133.00. 245,828 shares of the company’s stock traded hands, compared to its average volume of 160,258. The firm has a fifty day moving average of $98.34 and a two-hundred day moving average of $80.20. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of 41.82 and a beta of 0.53. Argan has a 52 week low of $39.74 and a 52 week high of $135.85.

Argan (NYSE:AGX) last released its quarterly earnings results on Thursday, September 5th. The construction company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.34. The business had revenue of $227.02 million during the quarter, compared to analyst estimates of $191.05 million. Argan had a return on equity of 14.80% and a net margin of 6.11%. The business’s revenue was up 60.6% compared to the same quarter last year.

Insiders Place Their Bets

In other Argan news, Director Rainer H. Bosselmann sold 4,598 shares of the company’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $131.01, for a total transaction of $602,383.98. Following the transaction, the director now owns 236,745 shares in the company, valued at approximately $31,015,962.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Argan news, Chairman William F. Griffin, Jr. sold 13,115 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $79.66, for a total transaction of $1,044,740.90. Following the transaction, the chairman now owns 157,604 shares in the company, valued at approximately $12,554,734.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rainer H. Bosselmann sold 4,598 shares of the company’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $131.01, for a total value of $602,383.98. Following the transaction, the director now owns 236,745 shares in the company, valued at $31,015,962.45. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,818 shares of company stock worth $5,302,535. Company insiders own 11.85% of the company’s stock.

Institutional Trading of Argan

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Argan in the 2nd quarter worth approximately $41,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Argan in the 3rd quarter worth approximately $43,000. Copeland Capital Management LLC purchased a new stake in shares of Argan in the 3rd quarter worth approximately $56,000. Point72 DIFC Ltd purchased a new stake in shares of Argan in the 2nd quarter worth approximately $70,000. Finally, nVerses Capital LLC purchased a new stake in shares of Argan in the 3rd quarter worth approximately $91,000. Hedge funds and other institutional investors own 79.43% of the company’s stock.

Argan Company Profile

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.