Argan (NYSE:AGX) Shares Gap Down - Time to Sell?

Argan, Inc. (NYSE:AGX - Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $138.12, but opened at $131.11. Argan shares last traded at $127.12, with a volume of 90,791 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Lake Street Capital raised shares of Argan from a "hold" rating to a "buy" rating and set a $150.00 price target on the stock in a report on Friday, March 28th. CJS Securities restated a "market perform" rating and set a $150.00 price target on shares of Argan in a report on Friday, December 6th.

Argan Stock Down 7.0 %

The firm's fifty day moving average is $133.21 and its two-hundred day moving average is $135.70. The firm has a market cap of $1.75 billion, a P/E ratio of 26.85 and a beta of 0.58.

Argan (NYSE:AGX - Get Free Report) last announced its earnings results on Thursday, March 27th. The construction company reported $2.22 earnings per share for the quarter, beating analysts' consensus estimates of $1.15 by $1.07. 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 business's revenue was up 41.3% compared to the same quarter last year.

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Insiders Place Their Bets

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

Institutional Investors Weigh In On Argan

Several hedge funds have recently bought and sold shares of the business. American Century Companies Inc. lifted its holdings in shares of Argan by 18.1% during the fourth quarter. American Century Companies Inc. now owns 480,658 shares of the construction company's stock valued at $65,869,000 after purchasing an additional 73,654 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Argan by 70.8% during the third quarter. JPMorgan Chase & Co. now owns 37,819 shares of the construction company's stock valued at $3,836,000 after buying an additional 15,681 shares during the last quarter. Principal Financial Group Inc. purchased a new position in Argan during the third quarter valued at $1,373,000. Victory Capital Management Inc. boosted its holdings in Argan by 28.5% in the fourth quarter. Victory Capital Management Inc. now owns 17,515 shares of the construction company's stock worth $2,400,000 after acquiring an additional 3,880 shares in the last quarter. Finally, Intech Investment Management LLC grew its stake in shares of Argan by 95.7% in the fourth quarter. Intech Investment Management LLC now owns 6,543 shares of the construction company's stock worth $897,000 after acquiring an additional 3,199 shares during the last quarter. Institutional investors own 79.43% of the company's stock.

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.