Argan, Inc. Common Stock (NYSE:AGX) has been the object of insider selling activity recently. Cynthia Flanders, Director reported the sale of 10,000 shares. The shares were sold on September 26th for an average price of $57.24. The Director now owns $686,880 of the stock per the Form 4 SEC filing. Henry A. Crumpton, Director disclosed the sale of 20,000 shares of (AGX). The shares were purchased at an average price of $57.39. Crumpton now owns $1,147,800 of the stock according to the SEC filing.
Today James W. Quinn, Director disclosed the sale of 10,000 shares of AGX stock. The shares were purchased at an average price of $57.08. Quinn now owns $4,541,856 of the stock according to the SEC filing.
The following firms have also recently changed their position in AGX. As of quarter end Royal Bank Of Canada had disposed of a total of 300 shares trimming its holdings by 13.0%. The value of the company’s investment in Argan, Inc. Common Stock went from $81,000 to $83,000 increasing 2.5% for the reporting period. 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 investment in AGX increased from $10,399,000 to $13,333,000 a change of $2,934,000 quarter to quarter.
Qs Investors, LLC trimmed its investment by shedding 16,400 shares a decrease of 6.3% from 03/31/2016 to 06/30/2016. Qs Investors, LLC currently owns 244,232 shares with a value of $10,189,000. The total value of its holdings increased 11.2%. Two Sigma Investments, Lp added to its stake by buying 118,385 shares an increase of 1,292.6% in the quarter. Two Sigma Investments, Lp now controls 127,544 shares worth $5,321,000. The value of the position overall is up by 1,552.5%.
Singular Research began coverage of the stock setting a rating of “Buy” and setting a price target of $41.00. Avondale Partners both downgraded the stock and raised the price target on September 15 changing the price objective from $36.00 to $39.00 and changing the rating from “Market Outperform” to “Market Perform”.
On September 15 the company was downgraded to “Market Perform” from “Market Outperform” with a current price target of $39.00 by analysts at Avondale Partners.
In the market the company is trading up from yesterday’s close of $57.31. Shares last traded at $58.00 a tad above the 50 day moving average which is $50.45 and which is slightly above the 200 day moving average of $41.15. The 50 day moving average went up $7.55 or +14.97% whereas the 200 day moving average was up $16.85 or +40.95%.
The P/E ratio is currently 17.82 and the market cap is 871.86M. In the latest earnings report the EPS was $3.26 and is projected to be $3.62 for the current year with 15,032,000 shares currently outstanding. Next quarter’s EPS is estimated at $0.75 with next year’s EPS anticipated to be $3.69.