Argan (NYSE:AGX) Upgraded by Lake Street Capital to Buy Rating

Lake Street Capital upgraded shares of Argan (NYSE:AGX - Free Report) from a hold rating to a buy rating in a report released on Friday morning, Marketbeat reports. They currently have $150.00 target price on the construction company's stock.

Separately, CJS Securities reissued a "market perform" rating and issued a $150.00 price objective on shares of Argan in a research note on Friday, December 6th.

Argan Stock Up 1.9 %

Shares of AGX traded up $2.50 during trading hours on Friday, hitting $133.67. 160,676 shares of the company were exchanged, compared to its average volume of 440,117. Argan has a fifty-two week low of $48.85 and a fifty-two week high of $191.46. The company has a market cap of $1.81 billion, a price-to-earnings ratio of 27.96 and a beta of 0.58. The firm's fifty day moving average is $135.15 and its 200 day moving average is $135.38.

Argan (NYSE:AGX - Get Free Report) last announced its quarterly earnings data on Thursday, March 27th. The construction company reported $2.22 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $197.50 million. The firm's revenue was up 41.3% compared to the same quarter last year.

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Insider Activity

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 value of $1,220,666.65. Following the completion of the transaction, the director now directly owns 11,792 shares of the company's stock, valued at approximately $1,949,099.68. This trade represents a 38.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Richard H. Deily sold 2,000 shares of Argan stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $150.00, for a total value of $300,000.00. Following the completion of the sale, the chief financial officer now owns 9,367 shares of the company's stock, valued at approximately $1,405,050. The trade was a 17.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,185 shares of company stock valued at $1,644,859. Insiders own 11.85% of the company's stock.

Institutional Investors Weigh In On Argan

Several hedge funds and other institutional investors have recently bought and sold shares of AGX. JPMorgan Chase & Co. increased its holdings in shares of 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 acquiring an additional 15,681 shares in the last quarter. Principal Financial Group Inc. bought a new stake in Argan during the 3rd quarter valued at $1,373,000. American Century Companies Inc. raised its stake in shares of Argan by 18.1% in the fourth quarter. American Century Companies Inc. now owns 480,658 shares of the construction company's stock worth $65,869,000 after purchasing an additional 73,654 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Argan by 28.5% in the fourth quarter. Victory Capital Management Inc. now owns 17,515 shares of the construction company's stock valued at $2,400,000 after purchasing an additional 3,880 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Argan by 4.8% during the third quarter. State Street Corp now owns 353,984 shares of the construction company's stock valued at $35,905,000 after buying an additional 16,055 shares during the last quarter. 79.43% of the stock is owned by institutional investors.

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.