Zacks: Argan, Inc. (AGX) Given $56.00 Average Price Target by Brokerages
Shares of Argan, Inc. (NYSE:AGX) have received a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.
Brokerages have set a 1-year consensus target price of $56.00 for the company, according to Zacks. Zacks has also assigned Argan an industry rank of 221 out of 256 based on the ratings given to its competitors.
NYSE:AGX traded down $0.27 during trading hours on Friday, hitting $40.00. 7,148 shares of the stock traded hands, compared to its average volume of 121,221. Argan has a 1 year low of $34.90 and a 1 year high of $47.53. The company has a market capitalization of $614.89 million, a P/E ratio of 10.00 and a beta of 0.80.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 31st. Stockholders of record on Thursday, January 24th will be given a $0.25 dividend. The ex-dividend date is Wednesday, January 23rd. This represents a $1.00 annualized dividend and a dividend yield of 2.50%.
Several large investors have recently bought and sold shares of AGX. Bank of New York Mellon Corp lifted its position in shares of Argan by 6.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 156,452 shares of the construction company’s stock worth $6,406,000 after purchasing an additional 10,081 shares during the period. BlackRock Inc. increased its stake in shares of Argan by 6.4% in the 2nd quarter. BlackRock Inc. now owns 1,045,232 shares of the construction company’s stock worth $42,802,000 after acquiring an additional 63,141 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Argan by 18.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,082,183 shares of the construction company’s stock worth $44,315,000 after acquiring an additional 170,266 shares in the last quarter. Raymond James & Associates bought a new position in shares of Argan in the 2nd quarter worth about $1,353,000. Finally, Dean Capital Management bought a new position in shares of Argan in the 2nd quarter worth about $1,701,000. 78.74% of the stock is owned by hedge funds and other institutional investors.
Argan, Inc, through its subsidiaries, provides engineering, procurement, construction, commissioning, operations management, maintenance, development, technical, and consulting services to the power generation and renewable energy markets. The company's Power Industry Services segment offers engineering, procurement, and construction contracting services 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 44 projects with approximately 15,000 megawatts of power-generating capacity.
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