Argan, Inc. (NYSE:AGX) has received an average broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation. Argan’s rating score has declined by 200% from 90 days ago as a result of various analysts’ ratings changes.
Brokers have set a 1 year consensus price objective of $56.00 for the company, according to Zacks. Zacks has also given Argan an industry rank of 157 out of 265 based on the ratings given to its competitors.
Separately, Lake Street Capital downgraded Argan from a “buy” rating to a “hold” rating and reduced their target price for the company from $71.00 to $56.00 in a report on Thursday, December 7th.
In other Argan news, Director John Ronald Jr. Jeffrey bought 1,000 shares of Argan stock in a transaction on Friday, October 20th. The shares were purchased at an average price of $68.02 per share, with a total value of $68,020.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 7.64% of the company’s stock.
Several hedge funds have recently modified their holdings of the business. GSA Capital Partners LLP boosted its holdings in shares of Argan by 28.8% in the 3rd quarter. GSA Capital Partners LLP now owns 30,167 shares of the construction company’s stock valued at $2,029,000 after purchasing an additional 6,752 shares in the last quarter. Delphi Management Inc. MA lifted its stake in shares of Argan by 53.1% in the 3rd quarter. Delphi Management Inc. MA now owns 14,894 shares of the construction company’s stock valued at $1,002,000 after acquiring an additional 5,165 shares during the last quarter. Kalos Management Inc. lifted its stake in shares of Argan by 22.2% in the 3rd quarter. Kalos Management Inc. now owns 10,188 shares of the construction company’s stock valued at $685,000 after acquiring an additional 1,854 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in shares of Argan by 557.4% in the 3rd quarter. Allianz Asset Management GmbH now owns 551,806 shares of the construction company’s stock valued at $37,109,000 after acquiring an additional 467,871 shares during the last quarter. Finally, Private Advisor Group LLC bought a new position in shares of Argan in the 3rd quarter valued at $214,000. 87.55% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Argan (NYSE AGX) opened at $45.75 on Friday. The stock has a market capitalization of $711.35, a P/E ratio of 8.49 and a beta of 0.89. Argan has a 12-month low of $41.79 and a 12-month high of $76.70.
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Argan Company Profile
Argan, Inc is a holding company. The Company conducts operations through its subsidiaries, Gemma Power Systems, LLC and affiliates (GPS), Atlantic Projects Company Limited (APC), Southern Maryland Cable, Inc (SMC) and The Roberts Company (Roberts). Through GPS and APC, the Company’s power industry services segment provides engineering, procurement, construction, commissioning, operations management, maintenance, development, technical and consulting services to the power generation and renewable energy markets.
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