Argan (AGX) Hits New 12-Month High and Low at $35.30

Shares of Argan, Inc. (NYSE:AGX) hit a new 52-week high and low during mid-day trading on Thursday . The stock traded as low as $35.30 and last traded at $35.95, with a volume of 5236 shares changing hands. The stock had previously closed at $36.15.

Separately, Lake Street Capital raised shares of Argan from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research report on Wednesday, March 28th.

The stock has a market capitalization of $597.85 million, a price-to-earnings ratio of 10.65 and a beta of 0.90.

Argan (NYSE:AGX) last posted its quarterly earnings data on Monday, June 11th. The construction company reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.03). Argan had a return on equity of 16.21% and a net margin of 7.00%. The firm had revenue of $141.40 million during the quarter, compared to analysts’ expectations of $122.93 million. During the same period last year, the company earned $1.31 earnings per share. The business’s revenue for the quarter was down 38.7% compared to the same quarter last year.

A number of institutional investors have recently bought and sold shares of AGX. Fortis Advisors LLC purchased a new stake in Argan in the 1st quarter worth about $125,000. US Bancorp DE purchased a new position in shares of Argan during the fourth quarter worth approximately $187,000. Court Place Advisors LLC purchased a new position in shares of Argan during the first quarter worth approximately $208,000. Aperio Group LLC purchased a new position in shares of Argan during the first quarter worth approximately $219,000. Finally, Teacher Retirement System of Texas purchased a new position in shares of Argan during the fourth quarter worth approximately $228,000. 78.10% of the stock is currently owned by institutional investors.

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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