Argan (NYSE:AGX) Shares Gap Down – Should You Sell?

Argan, Inc. (NYSE:AGX)’s share price 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 trading hands.

Analyst Ratings Changes

Several brokerages have recently issued reports on AGX. Lake Street Capital raised shares of Argan from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a research note on Friday. CJS Securities reaffirmed a “market perform” rating and issued a $150.00 price objective on shares of Argan in a research note on Friday, December 6th.

Argan Price Performance

The business’s 50-day moving average is $136.07 and its two-hundred day moving average is $135.08. The firm has a market cap of $1.75 billion, a P/E ratio of 27.02 and a beta of 0.58.

Argan (NYSE:AGX) last released its quarterly earnings data on Thursday, March 27th. The construction company reported $2.22 EPS for the quarter, beating the consensus estimate of $1.15 by $1.07. 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 business’s revenue was up 41.3% on a year-over-year basis.

Insider Activity at Argan

In other Argan news, CFO Richard H. Deily sold 2,000 shares of Argan stock in a transaction 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 transaction, the chief financial officer now directly owns 9,367 shares of the company’s stock, valued at $1,405,050. The trade was a 17.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter W. Getsinger sold 800 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $155.24, for a total transaction of $124,192.00. Following the completion of the transaction, the director now owns 19,177 shares of the company’s stock, valued at $2,977,037.48. The trade was a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,185 shares of company stock worth $1,644,859 in the last ninety days. 11.85% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Amundi boosted its holdings in Argan by 8.6% in the fourth quarter. Amundi now owns 859 shares of the construction company’s stock valued at $118,000 after acquiring an additional 68 shares during the last quarter. Savant Capital LLC lifted its stake in shares of Argan by 1.3% in the fourth quarter. Savant Capital LLC now owns 10,552 shares of the construction company’s stock valued at $1,446,000 after buying an additional 133 shares in the last quarter. Cerity Partners LLC boosted its stake in Argan by 3.7% during the 4th quarter. Cerity Partners LLC now owns 4,042 shares of the construction company’s stock valued at $545,000 after purchasing an additional 144 shares during the last quarter. Hillsdale Investment Management Inc. grew its position in Argan by 0.6% in the 4th quarter. Hillsdale Investment Management Inc. now owns 26,763 shares of the construction company’s stock worth $3,668,000 after purchasing an additional 150 shares in the last quarter. Finally, Spire Wealth Management purchased a new stake in shares of Argan during the 4th quarter valued at $26,000. Institutional investors own 79.43% of the company’s stock.

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.