Argan's (AGX) shares were down more than 13% in recent Friday trading after Lake Street downgraded the company's stock to hold from buy following fiscal Q3 results.
Argan posted higher fiscal Q3 earnings late Thursday but lower revenue than a year earlier. The company's fiscal Q3 earnings rose to $2.17 per diluted share from $2 a year earlier, while revenue slipped to $251.2 million from $257 million a year ago and came in below the $263.8 million estimate.
Trading volume stood at over 650,500 shares, compared with a daily average of 358,850.
Price: 308.75, Change: -47.64, Percent Change: -13.37
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