Argan (AGX) Projected to Post Earnings on Thursday

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

Argan Price Performance

AGX opened at $127.18 on Wednesday. Argan has a 1 year low of $48.85 and a 1 year high of $191.46. The stock’s 50 day simple moving average is $139.16 and its 200 day simple moving average is $134.37. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of 26.61 and a beta of 0.58.

Insiders Place Their Bets

In other Argan news, CFO Richard H. Deily sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $150.00, for a total value of $300,000.00. Following the transaction, the chief financial officer now directly owns 9,367 shares of the company’s stock, valued at approximately $1,405,050. This trade represents a 17.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Peter W. Getsinger sold 7,385 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $165.29, for a total transaction of $1,220,666.65. Following the sale, the director now directly owns 11,792 shares of the company’s stock, valued at approximately $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 90 days, insiders sold 10,185 shares of company stock valued at $1,644,859. 11.85% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on AGX. CJS Securities reissued a “market perform” rating and set a $150.00 price objective on shares of Argan in a research report on Friday, December 6th. Lake Street Capital downgraded Argan from a “buy” rating to a “hold” rating and boosted their target price for the stock from $85.00 to $150.00 in a report on Tuesday, December 3rd.

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.