Price Don’t Lie: Could Argan, Inc. See a Reversal After Breaking All Highs?

Price Don't Lie: Could Argan, Inc. See a Reversal After Breaking All Highs?

The stock of Argan, Inc. (NYSE:AGX) reached all time high today, Sep, 30 and still has $89.09 target or 51.00% above today’s $59.00 share price. This indicates more upside for the $884.32 million company. This technical setup was reported by Barchart.com. If the $89.09 PT is reached, the company will be worth $451.00M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 216,360 shares traded hands. Argan, Inc. (NYSE:AGX) has risen 80.79% since February 26, 2016 and is uptrending. It has outperformed by 70.37% the S&P500.

Argan, Inc. (NYSE:AGX) Ratings Coverage

Out of 2 analysts covering Argan (NYSE:AGX), 1 rate it a “Buy”, 1 “Sell”, while 0 “Hold”. This means 50% are positive. Argan has been the topic of 2 analyst reports since October 16, 2015 according to StockzIntelligence Inc. The rating was initiated by Lake Street with “Buy” on Thursday, June 9. The firm has “Not Rated” rating by Wm Smith given on Friday, October 16.

According to Zacks Investment Research, “Argan, Inc., headquartered in Rockville, MD, through its wholly owned Southern Maryland Cable, Inc. subsidiary, provides inside premise wiring services to the federal government and also provides underground and aerial construction services and splicing to major telecommunications and utilities customers.”

More notable recent Argan, Inc. (NYSE:AGX) news were published by: Finance.Yahoo.com which released: “Argan, Inc. Reports Record Second Quarter Results” on September 06, 2016, also Quotes.Wsj.com with their article: “News Argan Inc.AGX” published on February 11, 2011, Seekingalpha.com published: “Argan Inc. Is A Red Hot Growth Story” on June 10, 2016. More interesting news about Argan, Inc. (NYSE:AGX) were released by: Businesswire.com and their article: “Argan, Inc. Completes Acquisition of The Roberts Company” published on December 04, 2015 as well as Businesswire.com‘s news article titled: “Argan, Inc. Reports Year-End and Fourth Quarter Results” with publication date: April 14, 2016.

AGX Company Profile

Argan, Inc., incorporated on May 15, 1961, is a holding company. The Firm conducts activities 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 or TRC). The Company’s divisions include power industry services, industrial fabrication and field services, and telecommunications infrastructure services. Through GPS, the Company provides a range of engineering, procurement, construction, commissioning, activities management, maintenance, development and consulting services to the power generation and renewable energy markets for a range of customers, including independent power project owners, public utilities, municipalities, public institutions and private industry. Through APC, the Company provides construction and technical services for power generation, gas and oil, industrial and process industry customers. Through SMC, the Company provides telecommunications infrastructure services, including project management, construction and maintenance to commercial, federal Government and local Government customers. Through TRC, the Company provides fully integrated fabrication, construction and plant services designed to work with heavy and light industrial customers.

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