Peter Getsinger Sells 2,581 Shares of Argan (NYSE:AGX) Stock

Argan, Inc. (NYSE:AGX) Director Peter Getsinger sold 2,581 shares of Argan stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $552.73, for a total transaction of $1,426,596.13. Following the completion of the transaction, the director directly owned 10,847 shares of the company’s stock, valued at approximately $5,995,462.31. This trade represents a 19.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Argan Trading Up 0.4%

Shares of Argan stock traded up $2.44 during trading on Thursday, hitting $573.82. 295,268 shares of the stock were exchanged, compared to its average volume of 479,012. The company has a fifty day moving average price of $429.05 and a 200-day moving average price of $354.37. The stock has a market capitalization of $8.00 billion, a price-to-earnings ratio of 58.91 and a beta of 0.46. Argan, Inc. has a 1-year low of $111.16 and a 1-year high of $588.00.

Argan (NYSE:AGX) last issued its earnings results on Thursday, March 26th. The construction company reported $3.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $1.48. Argan had a net margin of 14.59% and a return on equity of 33.62%. The business had revenue of $262.05 million during the quarter, compared to the consensus estimate of $255.32 million. During the same period last year, the business posted $2.22 EPS. Argan’s revenue was up 12.7% on a year-over-year basis.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Freedom Capital raised Argan to a “hold” rating in a research report on Tuesday, March 10th. The Goldman Sachs Group boosted their target price on Argan from $399.00 to $518.00 and gave the stock a “buy” rating in a report on Friday, March 27th. Wall Street Zen upgraded Argan from a “hold” rating to a “buy” rating in a research note on Saturday, March 28th. Zacks Research raised Argan from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. raised shares of Argan from a “neutral” rating to an “overweight” rating and set a $550.00 price objective for the company in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $425.40.

Hedge Funds Weigh In On Argan

Several institutional investors and hedge funds have recently made changes to their positions in the company. Hsbc Holdings PLC bought a new position in shares of Argan during the fourth quarter worth approximately $203,000. Rockefeller Capital Management L.P. boosted its stake in Argan by 18.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,085 shares of the construction company’s stock valued at $340,000 after purchasing an additional 169 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in Argan in the 4th quarter valued at $44,000. Alpine Global Management LLC acquired a new position in Argan in the 4th quarter valued at $286,000. Finally, Astoria Portfolio Advisors LLC. acquired a new position in Argan in the 4th quarter valued at $208,000. Institutional investors and hedge funds own 79.43% of the company’s stock.

About Argan

Argan, Inc (NYSE: AGX) is a holding company that provides professional technical and management services to the power generation and renewable energy industries. Through its wholly owned subsidiaries, the company delivers engineering, procurement and construction management (EPCM), commissioning and operations and maintenance (O&M) services for a broad range of energy facilities. Argan focuses on projects for utility, industrial and municipally owned clients, helping to bring efficient thermal and renewable energy plants into operation and maintain optimal performance over the asset life cycle.

The company’s principal subsidiaries include Gemma Power Systems, which specializes in turnkey construction of combined-cycle, simple-cycle, cogeneration and renewable energy plants; Atlantic Projects Company, which provides electrical balance-of-plant, control systems, instrumentation and commissioning services; and Infrastructure Solutions, which offers industrial maintenance, outage support and modification services.