Argan (NYSE:AGX) Issues Earnings Results, Beats Estimates By $1.07 EPS

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

Argan Trading Down 3.9 %

AGX stock traded down $4.62 during trading on Thursday, hitting $114.91. The company had a trading volume of 429,378 shares, compared to its average volume of 263,741. The company has a fifty day moving average price of $138.05 and a two-hundred day moving average price of $134.26. Argan has a fifty-two week low of $48.85 and a fifty-two week high of $191.46. The company has a market cap of $1.56 billion, a P/E ratio of 24.04 and a beta of 0.58.

Analyst Ratings Changes

A number of research analysts have recently commented on AGX shares. CJS Securities reissued a “market perform” rating and set a $150.00 price objective on shares of Argan in a report on Friday, December 6th. Lake Street Capital downgraded shares of Argan from a “buy” rating to a “hold” rating and upped their price objective for the stock from $85.00 to $150.00 in a report on Tuesday, December 3rd.

Insider Transactions at Argan

In other Argan news, CFO Richard H. Deily sold 2,000 shares of the business’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $150.00, for a total value of $300,000.00. Following the completion of the transaction, the chief financial officer now directly owns 9,367 shares of the company’s stock, valued at approximately $1,405,050. The trade was a 17.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Peter W. Getsinger sold 7,385 shares of the firm’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $165.29, for a total transaction of $1,220,666.65. Following the completion of the sale, the director now directly owns 11,792 shares of the company’s stock, valued at approximately $1,949,099.68. This represents a 38.51 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,185 shares of company stock valued at $1,644,859. 11.85% of the stock is owned by insiders.

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.