Argan Shares Surge Over 30% After Strong Q4 Results Beat Expectations

Stock News03-27

Argan (AGX.US) saw its stock price surge more than 30% on Friday, continuing to set new all-time highs, bringing its year-to-date gain to 71%. The catalyst for the move was the company's fourth-quarter earnings report released on March 26, which showed revenue of $261.2 million and earnings per share of $3.47, both exceeding market expectations. Furthermore, the company secured $2.5 billion in new contracts for fiscal year 2026, increasing its project backlog to approximately $2.9 billion, providing strong visibility for future revenue. In response to the strong performance, JPMorgan upgraded its rating on the company from "Neutral" to "Overweight" and significantly raised its price target from $370 to $550.

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