Argan (NYSE:AGX) Issues Earnings Results, Beats Expectations By $1.07 EPS

Argan (NYSE:AGX) announced its earnings results on Thursday. The construction company reported $2.22 earnings per share for the quarter, beating the consensus estimate of $1.15 by $1.07, Briefing.com reports. Argan had a return on equity of 21.66% and a net margin of 8.20%. The company had revenue of $232.47 million during the quarter, compared to the consensus estimate of $197.50 million. The firm’s quarterly revenue was up 41.3% compared to the same quarter last year.

Argan Trading Down 3.9 %

NYSE AGX traded down $4.62 during trading hours on Thursday, reaching $114.91. The company’s stock had a trading volume of 429,378 shares, compared to its average volume of 263,741. Argan has a 52 week low of $48.85 and a 52 week high of $191.46. The stock has a market cap of $1.56 billion, a PE ratio of 24.04 and a beta of 0.58. The business has a 50-day simple moving average of $138.05 and a 200 day simple moving average of $134.26.

Insider Buying and Selling

In other Argan news, Director Peter W. Getsinger sold 7,385 shares of the stock in a transaction on 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Richard H. Deily sold 2,000 shares of the business’s stock in a transaction dated 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 sale, 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. Insiders sold a total of 10,185 shares of company stock worth $1,644,859 in the last three months. 11.85% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Lake Street Capital lowered Argan from a “buy” rating to a “hold” rating and upped their target price for the company from $85.00 to $150.00 in a research report on Tuesday, December 3rd. CJS Securities restated a “market perform” rating and issued a $150.00 target price on shares of Argan in a research note 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.