StockNews.com Initiates Coverage on Argan (NYSE:AGX)

Stock analysts at StockNews.com began coverage on shares of Argan (NYSE:AGX – Get Rating) in a research report issued to clients and investors on Thursday. The brokerage set a “buy” rating on the construction company’s stock.

Argan Stock Performance

NYSE:AGX opened at $42.26 on Thursday. Argan has a one year low of $31.26 and a one year high of $43.50. The stock has a 50 day moving average price of $40.17 and a 200 day moving average price of $38.47. The stock has a market cap of $567.13 million, a PE ratio of 17.91 and a beta of 0.62.

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Argan (NYSE:AGX – Get Rating) last announced its quarterly earnings data on Wednesday, April 12th. The construction company reported $1.00 earnings per share (EPS) for the quarter. Argan had a return on equity of 11.70% and a net margin of 7.27%. The business had revenue of $118.78 million during the quarter.

Institutional Trading of Argan

A number of hedge funds have recently bought and sold shares of the company. River Road Asset Management LLC grew its stake in Argan by 1.1% during the 4th quarter. River Road Asset Management LLC now owns 1,766,567 shares of the construction company’s stock valued at $65,151,000 after purchasing an additional 19,662 shares in the last quarter. BlackRock Inc. increased its position in shares of Argan by 0.4% during the 1st quarter. BlackRock Inc. now owns 1,259,175 shares of the construction company’s stock valued at $51,110,000 after purchasing an additional 5,487 shares during the period. Dimensional Fund Advisors LP raised its position in Argan by 2.7% in the third quarter. Dimensional Fund Advisors LP now owns 839,686 shares of the construction company’s stock worth $27,013,000 after acquiring an additional 22,155 shares in the last quarter. State Street Corp raised its holdings in shares of Argan by 7.2% in the 1st quarter. State Street Corp now owns 401,622 shares of the construction company’s stock worth $16,254,000 after purchasing an additional 26,993 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Argan by 10.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,329 shares of the construction company’s stock valued at $13,085,000 after purchasing an additional 30,756 shares during the period. Institutional investors and hedge funds own 83.84% of the company’s stock.

About Argan

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Argan, Inc is a construction company, which engages in the operations of its wholly owned subsidiaries. It operates through the following business segments: Power Industry Services, Telecommunications Infrastructure Services, and Industrial Fabrication and Field Services. The Power Industry Services segment includes engineering, procurement, construction, commissioning, maintenance, project development, and technical consulting services to the power generation market.

Further Reading

• Get a free copy of the StockNews.com research report on Argan (AGX)
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