Argan (NYSE:AGX) Announces Quarterly Earnings Results

Argan (NYSE:AGX) announced its quarterly earnings results on Thursday. The construction company reported $2.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $1.07, Briefing.com reports. Argan had a return on equity of 21.66% and a net margin of 8.20%. The business had revenue of $232.47 million during the quarter, compared to analysts’ expectations of $197.50 million. The business’s quarterly revenue was up 41.3% on a year-over-year basis.

Argan Price Performance

Argan stock opened at $138.81 on Friday. The stock has a market capitalization of $1.88 billion, a P/E ratio of 29.04 and a beta of 0.58. Argan has a 12-month low of $48.85 and a 12-month high of $191.46. The firm’s 50-day moving average is $136.07 and its two-hundred day moving average is $134.44.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on AGX shares. CJS Securities reiterated a “market perform” rating and issued a $150.00 price target on shares of Argan in a research report on Friday, December 6th. Lake Street Capital upgraded Argan from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a report on Friday.

Insider Activity

In other news, Director Peter W. Getsinger sold 800 shares of Argan stock in a transaction on Friday, January 10th. The stock was sold at an average price of $155.24, for a total value of $124,192.00. Following the completion of the sale, the director now owns 19,177 shares of the company’s stock, valued at $2,977,037.48. The trade was a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Richard H. Deily sold 2,000 shares of the stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $150.00, for a total value of $300,000.00. Following the transaction, the chief financial officer now owns 9,367 shares in the company, valued at $1,405,050. This trade represents a 17.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,185 shares of company stock valued at $1,644,859 over the last 90 days. Insiders own 11.85% of the company’s stock.

About Argan

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.