Argan (AGX) to Release Quarterly Earnings on Thursday

Argan (NYSE:AGX) will likely be posting its quarterly earnings results after the market closes on Thursday, March 27th. Analysts expect Argan to post earnings of $1.15 per share and revenue of $197.50 million for the quarter. Individual interested in registering for the company’s conference call can do so using this link.

Argan Price Performance

NYSE:AGX opened at $127.18 on Wednesday. The company has a market cap of $1.73 billion, a P/E ratio of 26.61 and a beta of 0.58. Argan has a 1 year low of $48.85 and a 1 year high of $191.46. The stock’s fifty day moving average price is $139.16 and its two-hundred day moving average price is $134.37.

Insider Activity at Argan

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

Wall Street Analyst Weigh In

AGX has been the subject of several analyst reports. Lake Street Capital downgraded Argan from a “buy” rating to a “hold” rating and raised their target price for the stock from $85.00 to $150.00 in a research note on Tuesday, December 3rd. CJS Securities restated a “market perform” rating and issued a $150.00 price objective on shares of Argan in a research report on Friday, December 6th.

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.