Argan (NYSE:AGX – Get Free Report) 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 – Get Free Report) 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
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.
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