Argan Stock Hit 52-Week High Today – Know What Wall Street Is Saying

• Goldman Sachs analyst Ati Modak raised the firm's price target on Argan to $518 from $399 and kept a ‘Buy’ rating on the shares.
• Lake Street analyst Robert Brown also raised the firm's price target on Argan to $375 from $325 and kept a ‘Hold’ rating on the shares.
• Argan on Thursday reported consolidated revenues for fourth quarter (Q4) at $262.1 million, an increase of $ 12.7% yoy. 

Argan shares hit 52-week high on Friday as strong fourth quarter earnings boosted investor confidence in the stock. 

At the time of writing, AGX was 34.7% up at $553.44 on Friday. 

Buoyed Wall Street

JPMorgan analyst Michael Fairbanks upgraded Argan to ‘Overweight’ from ‘Neutral’ with a price target of $550, up from $370. The company reported "strong" Q4 results and has several potential catalysts in fiscal 2027, the analyst told investors in a research note, per TheFly. 

The firm said Argan's net liquidity grew to $421 million during the quarter, which management believes could support a backlog in excess of $4 billion. JPMorgan now believes this is achievable by year-end fiscal 2027 under the current team count. It also believes a potential long-term framework agreement with a key customer could support extended demand visibility through the end of the decade.

Goldman Sachs analyst Ati Modak raised the firm's price target on Argan to $518 from $399 and kept a ‘Buy’ rating on the shares. The firm remains constructives on Argan for its pure-play combined-cycle gas turbine exposure, with expectations for earnings growth in FY27 driven by higher revenue conversion on backlog projects and capacity expansion to 10-12 Power projects over the next 12-20 months, the analyst told investors in a research note. 

Lake Street analyst Robert Brown also raised the firm's price target on Argan to $375 from $325 and kept a ‘Hold’ rating on the shares.

Earnings

Argan on Thursday reported consolidated revenues for fourth quarter (Q4) at $262.1 million, an increase of $ 12.7%, from consolidated revenues of $232.5 million reported for the comparable prior-year quarter. Wall Street projected revenue of $255.3 million, as per Stocktwits data.

Argan reported net income of $49.2 million, or $3.47 per diluted share, compared to $31.4 million, or $2.22 per diluted share in the year-ago quarter. The profit also sailed past Wall Street projections of $1.98 per share, as per data from Stocktwits.

The increase in profit from the comparable prior-year quarter is primarily due to improved gross profit margins for the power segment, reflecting strong project execution. 

Retail Reaction

Retail sentiment around AGX stock jumped from ‘bullish’ to ‘extremely bullish’ territory in the past 24 hours amid ‘extremely high’ message volume. 

Shares in the company have risen almost 74% so far this year.