Argan (NYSE:AGX) Director John Ronald Jr. Jeffrey Sells 4,556 Shares

Key Points

• Director John Ronald Jr. Jeffrey sold 4,556 shares on March 31 at an average price of $539.85 for about $2.46 million, leaving him with 3,636 shares — a 55.62% reduction in his ownership; he also sold 7,700 shares in January at roughly $361–$381 per share.
• Argan reported a strong quarter, posting $3.47 EPS vs. a $1.99 consensus and $262.05M in revenue (up 12.7%), while the stock trades near $574 close to its 12‑month high and carries a consensus analyst rating of "Moderate Buy" with upgraded price targets (Goldman to $518).

Argan, Inc. (NYSE:AGX - Get Free Report) Director John Ronald Jr. Jeffrey sold 4,556 shares of the stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $539.85, for a total value of $2,459,556.60. Following the transaction, the director owned 3,636 shares of the company's stock, valued at approximately $1,962,894.60. The trade was a 55.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

John Ronald Jr. Jeffrey also recently made the following trade(s):

• On Tuesday, January 27th, John Ronald Jr. Jeffrey sold 5,000 shares of Argan stock. The shares were sold at an average price of $360.78, for a total value of $1,803,900.00.
• On Tuesday, January 20th, John Ronald Jr. Jeffrey sold 2,700 shares of Argan stock. The shares were sold at an average price of $380.60, for a total value of $1,027,620.00.

Argan Price Performance

NYSE:AGX traded up $2.44 during trading hours on Thursday, reaching $573.82. 295,268 shares of the stock were exchanged, compared to its average volume of 479,012. The stock has a market cap of $8.00 billion, a PE ratio of 58.91 and a beta of 0.46. Argan, Inc. has a twelve month low of $111.16 and a twelve month high of $588.00. The firm has a 50 day moving average of $429.05 and a 200 day moving average of $354.37.

Argan (NYSE:AGX - Get Free Report) last posted its quarterly earnings data on Thursday, March 26th. The construction company reported $3.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.99 by $1.48. The company had revenue of $262.05 million for the quarter, compared to the consensus estimate of $255.32 million. Argan had a net margin of 14.59% and a return on equity of 33.62%. The firm's revenue was up 12.7% compared to the same quarter last year. During the same period last year, the company earned $2.22 earnings per share.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Lake Street Capital boosted their price target on shares of Argan from $325.00 to $375.00 and gave the stock a "hold" rating in a research report on Friday, March 27th. CJS Securities upgraded Argan to a "hold" rating in a report on Thursday, December 11th. The Goldman Sachs Group lifted their target price on Argan from $399.00 to $518.00 and gave the company a "buy" rating in a research report on Friday, March 27th. Freedom Capital upgraded Argan to a "hold" rating in a report on Tuesday, March 10th. Finally, Weiss Ratings reissued a "buy (b+)" rating on shares of Argan in a research report on Wednesday, December 24th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $425.40.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Aster Capital Management DIFC Ltd acquired a new stake in Argan during the 3rd quarter valued at $25,000. Danske Bank A S acquired a new position in shares of Argan in the third quarter valued at $27,000. Montag A & Associates Inc. acquired a new position in shares of Argan in the fourth quarter valued at $30,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Argan in the fourth quarter valued at about $30,000. Finally, Hilton Head Capital Partners LLC bought a new position in shares of Argan in the fourth quarter valued at about $31,000. 79.43% of the stock is owned by institutional investors and hedge funds.

Argan Company Profile

Argan, Inc NYSE: AGX is a holding company that provides professional technical and management services to the power generation and renewable energy industries. Through its wholly owned subsidiaries, the company delivers engineering, procurement and construction management (EPCM), commissioning and operations and maintenance (O&M) services for a broad range of energy facilities. Argan focuses on projects for utility, industrial and municipally owned clients, helping to bring efficient thermal and renewable energy plants into operation and maintain optimal performance over the asset life cycle.

The company's principal subsidiaries include Gemma Power Systems, which specializes in turnkey construction of combined-cycle, simple-cycle, cogeneration and renewable energy plants; Atlantic Projects Company, which provides electrical balance-of-plant, control systems, instrumentation and commissioning services; and Infrastructure Solutions, which offers industrial maintenance, outage support and modification services.

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