Argan, Inc. Common Stock (NYSE:AGX) has been the object of insider selling activity recently. Cynthia Flanders, Director sold $572,400 worth of shares at an average price of $57.24 on September 26th. The Director now owns $686,880 of the stock as recorded in a recent Form 4 SEC filing. Director Henry A. Crumpton let go of 20,000 shares at an average price of $57.39 on Mon the 26th. That brings Crumpton’s holdings to $1,147,800 per an SEC filing yesterday.
James W. Quinn, Director let go of $570,800 worth of shares at an average price of $57.08 on Fri the 23rd. That brings the Director’s holdings to $4,541,856 as reported to the SEC.
These firms have also modified their investment in AGX. Royal Bank Of Canada divested its position by selling 300 shares a decrease of 13.0%. Royal Bank Of Canada claims 2,000 shares with a value of $83,000. The total value of its holdings increased 2.5%. As of the end of the quarter Hawk Ridge Capital Management Lp had bought 23,822 shares growing its stake by 8.1%. The value of the company’s investment in Argan, Inc. Common Stock increased from $10,399,000 to $13,333,000 a change of $2,934,000 quarter over quarter.
As of quarter end Qs Investors, LLC had disposed of a total of 16,400 shares trimming its position 6.3%. The value of the investment in Argan, Inc. Common Stock went from $9,164,000 to $10,189,000 a change of 11.2% since the last quarter. Two Sigma Investments, Lp expanded its stake by buying 118,385 shares an increase of 1,292.6% in the quarter. Two Sigma Investments, Lp owns 127,544 shares valued at $5,321,000. The value of the position overall is up by 1,552.5%.
Equity analyst Singular Research released its first research report on the stock setting a rating of “Buy” and establishing a price target of $41.00. Equity analyst Avondale Partners both downgraded the stock and raised the price target on September 15 boosting the price target from $36.00 to $39.00 and altering the rating from “Market Outperform” to “Market Perform”.
On September 15 the stock rating was downgraded to “Market Perform” from “Market Outperform” and a price target of $39.00 was set by Avondale Partners.
In the market the company is trading up since yesterday’s close of $57.31. The stock last traded at $58.00 which is slightly above the 50 day moving average of $50.45 and a bit higher than the 200 day moving average of $41.15. The 50 day moving average went up $7.55 or +14.97% whereas the 200 day average was up by +40.95%.
Argan, Inc. Common Stock currently has a P/E ratio of 17.82 and market cap is 871.86M. As of the last earnings report the EPS was $3.26 and is expected to be $3.62 for the current year with 15,032,000 shares now outstanding. Analysts expect next quarter’s EPS to be $0.75 and the next full year EPS is anticipated to be $3.69.