The stock of Argan, Inc. (NYSE:AGX) hit a new 52-week high and has $95.71 target or 61.00% above today’s $59.45 share price. The 7 months bullish chart indicates low risk for the $886.84M company. The 1-year high was reported on Nov, 14 by Barchart.com. If the $95.71 price target is reached, the company will be worth $540.97 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 33,447 shares traded hands. Argan, Inc. (NYSE:AGX) has risen 73.45% since April 12, 2016 and is uptrending. It has outperformed by 68.47% 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. $56 is the highest target while $45 is the lowest. The $50.50 average target is -15.05% below today’s ($59.45) stock price. Argan has been the topic of 2 analyst reports since October 16, 2015 according to StockzIntelligence Inc. Wm Smith initiated the shares of AGX in a report on Friday, October 16 with “Not Rated” rating. The stock of Argan, Inc. (NYSE:AGX) has “Buy” rating given on Thursday, June 9 by Lake Street.
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: Marketwatch.com which released: “/quotes/zigman/3870025/realtime” on October 08, 2010, also Businesswire.com with their article: “Argan, Inc. Completes Acquisition of The Roberts Company” published on December 04, 2015, 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.’s Wholly Owned Subsidiary Gemma Power Systems Enters into EPC …” published on August 20, 2015 as well as Businesswire.com‘s news article titled: “Argan, Inc. Appoints David Watson as Chief Financial Officer” with publication date: October 13, 2015.
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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