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

Argan (NYSE:AGX) posted its quarterly earnings results on Thursday. The construction company reported $2.22 EPS for the quarter, topping the consensus estimate of $1.15 by $1.07, Briefing.com reports. The business had revenue of $232.47 million during the quarter, compared to analysts’ expectations of $197.50 million. Argan had a net margin of 8.20% and a return on equity of 21.66%. Argan’s quarterly revenue was up 41.3% on a year-over-year basis.

Argan Price Performance

Shares of NYSE AGX traded down $4.62 during mid-day trading on Thursday, hitting $114.91. The company had a trading volume of 422,958 shares, compared to its average volume of 423,088. The firm has a market cap of $1.56 billion, a P/E ratio of 24.04 and a beta of 0.58. The business’s 50-day simple moving average is $138.05 and its 200-day simple moving average is $134.26. Argan has a 12 month low of $48.85 and a 12 month high of $191.46.

Insider Buying and Selling

In related news, CFO Richard H. Deily sold 2,000 shares of Argan stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $150.00, for a total transaction 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. This trade represents a 17.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Peter W. Getsinger sold 7,385 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director now owns 11,792 shares in the company, valued at approximately $1,949,099.68. This trade represents a 38.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,185 shares of company stock valued at $1,644,859 over the last quarter. Corporate insiders own 11.85% of the company’s stock.

Analyst Ratings Changes

AGX has been the subject of a number of research analyst reports. CJS Securities reissued a “market perform” rating and set a $150.00 target price on shares of Argan in a research note on Friday, December 6th. Lake Street Capital cut Argan from a “buy” rating to a “hold” rating and lifted their price objective for the company from $85.00 to $150.00 in a research 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.