Alpine Investment Adds 60,000 Shares of Argan Worth $16.2 Million
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1d ago
0mins
Source: NASDAQ.COM
- Share Increase: Alpine Investment Management added 60,000 shares of Argan (NYSE:AGX) in Q3, valued at approximately $16.2 million, making it the fund's fourth-largest holding and reflecting confidence in the company's growth prospects.
- Asset Proportion Growth: Argan now accounts for 13.62% of Alpine's reportable assets under management, indicating a concentrated investment strategy in industrial and infrastructure sectors aimed at capitalizing on hard assets and cash generation opportunities.
- Strong Stock Performance: As of last Friday, Argan shares were priced at $325.96, up 127% over the past year, significantly outperforming the S&P 500's 17% gain, suggesting optimistic market expectations for its future performance.
- Financial Health: Argan reported a net income of $30.7 million in Q3, with earnings per share at $2.17 and EBITDA rising to $40.3 million, expanding margins to 16%, demonstrating robust financial health in a capital-intensive industry.
Analyst Views on AGX
Wall Street analysts forecast AGX stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for AGX is 335.25 USD with a low forecast of 260.00 USD and a high forecast of 397.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
4 Analyst Rating
4 Buy
0 Hold
0 Sell
Strong Buy
Current: 339.540
Low
260.00
Averages
335.25
High
397.00
Current: 339.540
Low
260.00
Averages
335.25
High
397.00
About AGX
Argan, Inc. is a holding company. The Company is a construction firm that conducts operations through its subsidiaries, Gemma Power Systems, LLC and affiliates (GPS), Atlantic Projects Company Limited and affiliates (APC), The Roberts Company, Inc. (TRC), and Southern Maryland Cable, Inc. (SMC). Through GPS and APC, its power industry services, it offers a suite of engineering, procurement, construction, commissioning, maintenance, project development and technical consulting services to the power generation market, including the renewable energy sector. Through TRC, the industrial construction services provide field services and project management that support new plant construction and additions, maintenance turnarounds, shutdowns and emergency mobilizations for industrial plants. Through SMC, its telecommunications infrastructure services provide project management, construction, installation and maintenance services to commercial, local government and federal government customers.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
