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Argan, Inc. (AGX) Upped to Strong Buy on Solid Prospects
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Zacks Investment Research upgraded Argan, Inc. (AGX - Free Report) to a Zacks Rank #1 (Strong Buy) on Jan 10, 2017. Going by the Zacks model, companies sporting a Zacks Rank #1 have strong chances of outperforming the broader market.
Post the release of third-quarter fiscal 2017 (ended Oct 31, 2016) results on Dec 6, Argan, Inc.’s shares yielded a positive return of 5.5%, outperforming the negative return of 1.1% recorded by the Zacks categorized Building and Construction Products Miscellaneous industry.
Why the Upgrade?
Market sentiments have been favoring Argan, Inc. for quite some time now. The company has an average positive earnings surprise of 25.06% for the last four quarters. Its earnings of $1.16 per share exceeded the Zacks Consensus Estimate by 54.67% in the third quarter. Moving ahead, the company aims to benefit from its improving operational efficiency, strong backlog, high liquidity and no leverage, and an efficient management team.
Also, Argan, Inc. undertakes organic and inorganic initiatives for expanding in new and unexplored markets as well as improving its product offerings. At its third-quarter fiscal 2017 conference call, the company communicated that its’ Gemma Power Systems business accelerated work on four large, gas-fired power plants while completed work on two Panda power plants. In addition, the company believes in rewarding its shareholders handsomely through dividend payments, having disbursed cash dividend of 70 cents per share and special dividend of 30 cents in Oct 2016.
Investors seem to be optimistic about Argan, Inc.’s future prospects, as evident from upward revisions in earnings estimates for the stock. Over the last 60 days, the Zacks Consensus Estimate for the company increased 12.3% to $4.10 per share for fiscal 2017 (ending Jan 2017) and by 0.5% to $3.75 per share for fiscal 2018.
Also, the company has an Earnings ESP of +4.76% for fourth-quarter fiscal 2017 and +0.73% for fiscal 2017. Please check our Earnings ESP Filter that enables you to find stocks that are expected to come out with earnings surprises.
Other Stocks to Consider
Argan, Inc. has a market capitalization of approximately $1.1 million. Other stocks worth considering in the building and construction products miscellaneous industry include GCP Applied Technologies Inc. , Gibraltar Industries, Inc. (ROCK - Free Report) and NCI Building Systems, Inc. . While both GCP Applied Technologies and Gibraltar Industries sport a Zacks Rank #1, NCI Building Systems carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
GCP Applied Technologies has an average positive earnings surprise of 18.00% for the last four quarters. Also, earnings estimates for 2017 represent year-over-year growth of 16.07%.
Gibraltar Industries, Inc.’s earnings estimates for 2017 have been revised upward, over the last 60 days. Also, the company reported better-than-expected results in the last four quarters, with a positive earnings surprise of 67.3%.
NCI Building Systems, Inc. has witnessed positive revisions in earnings estimates for fiscal 2017, over the past 60 days. Also, the company has a positive average earnings surprise of 87.26% for the trailing four quarters.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>
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Argan, Inc. (AGX) Upped to Strong Buy on Solid Prospects
Zacks Investment Research upgraded Argan, Inc. (AGX - Free Report) to a Zacks Rank #1 (Strong Buy) on Jan 10, 2017. Going by the Zacks model, companies sporting a Zacks Rank #1 have strong chances of outperforming the broader market.
Post the release of third-quarter fiscal 2017 (ended Oct 31, 2016) results on Dec 6, Argan, Inc.’s shares yielded a positive return of 5.5%, outperforming the negative return of 1.1% recorded by the Zacks categorized Building and Construction Products Miscellaneous industry.
Why the Upgrade?
Market sentiments have been favoring Argan, Inc. for quite some time now. The company has an average positive earnings surprise of 25.06% for the last four quarters. Its earnings of $1.16 per share exceeded the Zacks Consensus Estimate by 54.67% in the third quarter. Moving ahead, the company aims to benefit from its improving operational efficiency, strong backlog, high liquidity and no leverage, and an efficient management team.
Also, Argan, Inc. undertakes organic and inorganic initiatives for expanding in new and unexplored markets as well as improving its product offerings. At its third-quarter fiscal 2017 conference call, the company communicated that its’ Gemma Power Systems business accelerated work on four large, gas-fired power plants while completed work on two Panda power plants. In addition, the company believes in rewarding its shareholders handsomely through dividend payments, having disbursed cash dividend of 70 cents per share and special dividend of 30 cents in Oct 2016.
Investors seem to be optimistic about Argan, Inc.’s future prospects, as evident from upward revisions in earnings estimates for the stock. Over the last 60 days, the Zacks Consensus Estimate for the company increased 12.3% to $4.10 per share for fiscal 2017 (ending Jan 2017) and by 0.5% to $3.75 per share for fiscal 2018.
Argan, Inc. Price and Consensus
Argan, Inc. Price and Consensus | Argan, Inc. Quote
Also, the company has an Earnings ESP of +4.76% for fourth-quarter fiscal 2017 and +0.73% for fiscal 2017. Please check our Earnings ESP Filter that enables you to find stocks that are expected to come out with earnings surprises.
Other Stocks to Consider
Argan, Inc. has a market capitalization of approximately $1.1 million. Other stocks worth considering in the building and construction products miscellaneous industry include GCP Applied Technologies Inc. , Gibraltar Industries, Inc. (ROCK - Free Report) and NCI Building Systems, Inc. . While both GCP Applied Technologies and Gibraltar Industries sport a Zacks Rank #1, NCI Building Systems carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
GCP Applied Technologies has an average positive earnings surprise of 18.00% for the last four quarters. Also, earnings estimates for 2017 represent year-over-year growth of 16.07%.
Gibraltar Industries, Inc.’s earnings estimates for 2017 have been revised upward, over the last 60 days. Also, the company reported better-than-expected results in the last four quarters, with a positive earnings surprise of 67.3%.
NCI Building Systems, Inc. has witnessed positive revisions in earnings estimates for fiscal 2017, over the past 60 days. Also, the company has a positive average earnings surprise of 87.26% for the trailing four quarters.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>