Argan (NYSE:AGX) Earns Neutral Rating from Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. began coverage on shares of Argan (NYSE:AGX - Get Free Report) in a research note issued on Monday, Marketbeat.com reports. The firm set a "neutral" rating and a $220.00 price target on the construction company's stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 7.20% from the stock's previous close.

Several other equities analysts have also weighed in on AGX. Kepler Capital Markets lowered Argan from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 28th. Lake Street Capital increased their target price on Argan from $150.00 to $236.00 and gave the company a "buy" rating in a research note on Thursday, June 5th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $202.00.

Argan Price Performance

Shares of AGX traded down $1.85 on Monday, reaching $205.22. 386,292 shares of the stock traded hands, compared to its average volume of 360,560. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of 28.78 and a beta of 0.54. Argan has a 12 month low of $63.53 and a 12 month high of $246.60. The stock's 50-day moving average price is $208.67 and its 200-day moving average price is $165.74.

Argan (NYSE:AGX - Get Free Report) last announced its quarterly earnings results on Wednesday, June 4th. The construction company reported $1.60 earnings per share for the quarter, beating analysts' consensus estimates of $1.09 by $0.51. Argan had a return on equity of 29.61% and a net margin of 11.00%. The firm had revenue of $193.66 million for the quarter, compared to analysts' expectations of $193.75 million. During the same period in the prior year, the business posted $0.58 earnings per share. The business's revenue was up 22.8% compared to the same quarter last year.

Insider Transactions at Argan

In other news, Director Rainer H. Bosselmann sold 13,728 shares of Argan stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $221.58, for a total value of $3,041,850.24. Following the transaction, the director owned 196,723 shares in the company, valued at approximately $43,589,882.34. This trade represents a 6.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Cynthia Flanders sold 15,000 shares of Argan stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $220.47, for a total value of $3,307,050.00. Following the completion of the transaction, the director owned 33,428 shares in the company, valued at approximately $7,369,871.16. The trade was a 30.97% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 85,404 shares of company stock worth $18,221,387. Corporate insiders own 6.69% of the company's stock.

Institutional Investors Weigh In On Argan

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Farther Finance Advisors LLC acquired a new position in Argan during the 4th quarter worth about $32,000. Larson Financial Group LLC lifted its stake in shares of Argan by 2,987.5% in the 1st quarter. Larson Financial Group LLC now owns 247 shares of the construction company's stock valued at $32,000 after purchasing an additional 239 shares during the period. McIlrath & Eck LLC lifted its stake in shares of Argan by 419.4% in the 4th quarter. McIlrath & Eck LLC now owns 374 shares of the construction company's stock valued at $51,000 after purchasing an additional 302 shares during the period. Federated Hermes Inc. lifted its stake in shares of Argan by 1,123.5% in the 4th quarter. Federated Hermes Inc. now owns 416 shares of the construction company's stock valued at $57,000 after purchasing an additional 382 shares during the period. Finally, State of Wyoming acquired a new position in shares of Argan in the 1st quarter valued at about $109,000. Institutional investors own 79.43% 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.