Argan (NYSE:AGX) Price Target Raised to $236.00 at Lake Street Capital

Argan (NYSE:AGX - Get Free Report) had its price objective upped by investment analysts at Lake Street Capital from $150.00 to $236.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the construction company's stock. Lake Street Capital's target price suggests a potential upside of 0.09% from the stock's current price.

Separately, Kepler Capital Markets downgraded Argan from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 28th.

Argan Price Performance

AGX stock traded up $17.99 during midday trading on Thursday, reaching $235.79. The company had a trading volume of 1,030,954 shares, compared to its average volume of 331,727. The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of 49.33 and a beta of 0.42. The stock has a 50 day moving average price of $164.44 and a 200-day moving average price of $150.29. Argan has a 1-year low of $63.53 and a 1-year high of $243.52.

Argan (NYSE:AGX - Get Free Report) last posted its quarterly earnings results on Wednesday, June 4th. The construction company reported $1.60 EPS for the quarter, beating analysts' consensus estimates of $1.09 by $0.51. The business had revenue of $193.66 million during the quarter, compared to the consensus estimate of $193.75 million. Argan had a return on equity of 21.66% and a net margin of 8.20%. Argan's revenue for the quarter was up 22.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.58 earnings per share.

Insider Transactions at Argan

In other news, CFO Richard H. Deily sold 1,565 shares of the business's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $152.32, for a total transaction of $238,380.80. Following the sale, the chief financial officer now directly owns 7,802 shares in the company, valued at approximately $1,188,400.64. The trade was a 16.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Peter W. Getsinger sold 2,292 shares of the business's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $150.35, for a total value of $344,602.20. Following the sale, the director now owns 9,500 shares in the company, valued at approximately $1,428,325. This trade represents a 19.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,857 shares of company stock worth $1,308,133. Insiders own 6.69% of the company's stock.

Institutional Trading of Argan

Several institutional investors have recently added to or reduced their stakes in AGX. Spire Wealth Management bought a new stake in Argan in the fourth quarter valued at approximately $26,000. Farther Finance Advisors LLC bought a new stake in Argan in the fourth quarter valued at approximately $32,000. Larson Financial Group LLC boosted its holdings in Argan by 2,987.5% in the first quarter. Larson Financial Group LLC now owns 247 shares of the construction company's stock valued at $32,000 after acquiring an additional 239 shares during the last quarter. Global Retirement Partners LLC bought a new stake in Argan in the fourth quarter valued at approximately $35,000. Finally, McIlrath & Eck LLC boosted its holdings in shares of Argan by 419.4% during the 4th quarter. McIlrath & Eck LLC now owns 374 shares of the construction company's stock worth $51,000 after buying an additional 302 shares in the last quarter. 79.43% of the stock is currently owned by institutional investors.

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.