Argan Inc. (NYSE:AGX) – Lake Street Capital reduced their Q3 2017 earnings estimates for shares of Argan in a research note issued on Wednesday. Lake Street Capital analyst R. Brown now anticipates that the firm will earn $0.72 per share for the quarter, down from their prior forecast of $0.75. Lake Street Capital currently has a “Buy” rating on the stock. Lake Street Capital also issued estimates for Argan’s Q4 2017 earnings at $0.72 EPS, Q1 2018 earnings at $0.88 EPS, Q2 2018 earnings at $1.11 EPS, Q3 2018 earnings at $0.86 EPS, Q4 2018 earnings at $0.75 EPS, FY2018 earnings at $3.60 EPS, Q1 2019 earnings at $0.75 EPS, Q2 2019 earnings at $1.08 EPS and FY2019 earnings at $3.65 EPS.
Shares of Argan (NYSE:AGX) traded up 0.70% on Thursday, hitting $53.08. 313,890 shares of the stock traded hands. The company has a market cap of $788.66 million, a PE ratio of 19.46 and a beta of 1.26. The stock has a 50 day moving average of $47.35 and a 200 day moving average of $38.97. Argan has a one year low of $28.03 and a one year high of $53.30.
Argan (NYSE:AGX) last issued its quarterly earnings results on Tuesday, September 6th. The company reported $1.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.50. The business had revenue of $162.50 million for the quarter.
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In other Argan news, insider Daniel L. Martin sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, June 10th. The shares were sold at an average price of $41.10, for a total transaction of $616,500.00. Following the transaction, the insider now owns 5,094 shares in the company, valued at approximately $209,363.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Richard H. Deily sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 13th. The shares were sold at an average price of $46.78, for a total transaction of $327,460.00. Following the transaction, the vice president now owns 7,000 shares in the company, valued at approximately $327,460. The disclosure for this sale can be found here. Corporate insiders own 9.50% of the company’s stock.
Argan Company Profile
Argan, Inc is a holding company. The Company conducts operations through its subsidiaries, Gemma Power Systems, LLC and affiliates (GPS), Atlantic Projects Company Limited (APC), Southern Maryland Cable, Inc (SMC) and The Roberts Company (Roberts). Through GPS and APC, the Company’s power industry services segment provides engineering, procurement, construction, commissioning, operations management, maintenance, development, technical and consulting services to the power generation and renewable energy markets.
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