Argan (AGX) Sees Backlog Surge to $3 Billion Amid Power Infrastructure Demand
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 22 2026
0mins
Should l Buy AGX?
Source: Fool
- Record Backlog: Argan's backlog surged to $3 billion in Q3 FY2026, a significant increase from $1.4 billion just two quarters prior, indicating robust demand for power infrastructure projects.
- Strong Financial Position: With no debt and nearly $727 million in cash and equivalents, Argan's solid balance sheet provides a strong foundation for executing its upcoming projects over the next decade.
- Improving Profitability: Despite a revenue decline in the latest quarter, Argan's gross margins, net income, earnings per share, and EBITDA are all trending upward, reflecting the company's ability to enhance profitability even in challenging conditions, boosting investor confidence.
- Strong Stock Performance: Argan's stock has risen 118% over the past 12 months, and while its P/E ratio has reached 45, the high valuation is deemed justified given the significant power needs in the U.S. and abroad, highlighting the company's growth potential.
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Analyst Views on AGX
Wall Street analysts forecast AGX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for AGX is 365.25 USD with a low forecast of 325.00 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
2 Buy
2 Hold
0 Sell
Moderate Buy
Current: 345.970
Low
325.00
Averages
365.25
High
397.00
Current: 345.970
Low
325.00
Averages
365.25
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.
Argan (AGX) Sees Backlog Surge to $3 Billion Amid Power Infrastructure Demand
- Record Backlog: Argan's backlog surged to $3 billion in Q3 FY2026, a significant increase from $1.4 billion just two quarters prior, indicating robust demand for power infrastructure projects.
- Strong Financial Position: With no debt and nearly $727 million in cash and equivalents, Argan's solid balance sheet provides a strong foundation for executing its upcoming projects over the next decade.
- Improving Profitability: Despite a revenue decline in the latest quarter, Argan's gross margins, net income, earnings per share, and EBITDA are all trending upward, reflecting the company's ability to enhance profitability even in challenging conditions, boosting investor confidence.
- Strong Stock Performance: Argan's stock has risen 118% over the past 12 months, and while its P/E ratio has reached 45, the high valuation is deemed justified given the significant power needs in the U.S. and abroad, highlighting the company's growth potential.
See More
Argan Inc (AGX) Options Volume Hits 1,601 Contracts, 60.1% of Average Daily Volume
- Active Options Trading: Argan Inc's options volume today reached 1,601 contracts, equivalent to approximately 160,100 shares, indicating a trading activity level of 60.1% of its average daily volume over the past month, which may reflect market interest in its future performance.
- High Strike Call Options: The $370 strike call option has shown particularly high volume today, with 109 contracts traded, representing about 10,900 shares, suggesting that investors are optimistic about the stock's potential for future gains.
- Better Home & Finance Options Activity: In parallel, Better Home & Finance Holding Co saw options trading volume of 2,762 contracts, equivalent to approximately 276,200 shares, indicating a trading activity level of 59.1% of its average daily volume over the past month, reflecting market interest in the company.
- Bullish Options Trend: In BETR's trading, the $90 strike call option stands out with a volume of 1,202 contracts traded today, representing about 120,200 shares, demonstrating investor confidence in its future performance.
See More
Argan (AGX) Director Sells Shares Worth $3.38 Million
- Director Sell-off: Argan's Director Peter W Getsinger sold 10,595 shares on January 7, 2026, for a total of $3.38 million, indicating a cautious outlook on the company's future prospects.
- Market Reaction: This sell-off may trigger short-term volatility in Argan's stock price, prompting investors to monitor subsequent market dynamics and changes in the company's fundamentals.
- Shareholding Structure Change: The director's sale could impact the company's governance structure, necessitating an assessment of its potential effects on corporate decision-making and strategic direction.
- Investor Confidence: While the sell-off might be interpreted as a negative signal, it is essential to analyze it in conjunction with the company's overall performance and market conditions to gauge its impact on long-term investment value.
See More
Cipher Mining Secures $5.5 Billion Deal with Amazon for AI Infrastructure Demand
- Surging Market Demand: Cipher Mining's 15-year, $5.5 billion deal with Amazon Web Services for 300 megawatts of capacity highlights the robust demand for AI infrastructure, which is expected to significantly boost the company's revenue.
- Energy Pipeline Expansion: The acquisition of a 200-megawatt site in Ohio increases Cipher Mining's total pipeline to 3.4 gigawatts, enabling the company to support ten additional deals like the Amazon agreement, further solidifying its market position.
- Massive Revenue Potential: With soaring AI demand, Cipher Mining anticipates generating billions in annual recurring revenue by the end of 2026, indicating its capability to expand nationwide.
- Industry Leadership: Cipher Mining's success not only reflects its leadership in the AI infrastructure sector but also demonstrates the company's ability to seek high-quality opportunities across the country, signaling substantial growth potential ahead.
See More
Cipher Mining Signs $5.5 Billion Deal with Amazon to Expand AI Infrastructure
- Major Contract Signing: Cipher Mining has secured a 15-year deal worth $5.5 billion with Amazon Web Services, providing 300 megawatts of capacity, significantly enhancing its competitive edge in the AI infrastructure market.
- Energy Pipeline Expansion: The company acquired a 200-megawatt site in Ohio, bringing its total pipeline to 3.4 gigawatts, which is expected to support 10 additional deals like the Amazon one, further driving revenue growth.
- Massive Revenue Potential: With soaring AI demand, Cipher Mining anticipates generating billions in annual recurring revenue by the end of 2026, showcasing its strong growth potential in a rapidly evolving market.
- Market Expansion Strategy: This acquisition marks Cipher Mining's first site outside Texas, indicating the company's strategy to seek high-quality opportunities nationwide, further solidifying its market position.
See More
Alpine Investment Management Initiates $16.2 Million Position in Argan (AGX)
- New Position Initiated: Alpine Investment Management has opened a new position in Argan (AGX) worth approximately $16.2 million by acquiring 60,000 shares, indicating strong confidence in the company's future growth prospects.
- Asset Allocation Optimization: Argan now accounts for 13.62% of Alpine's reportable U.S. equity assets, highlighting its increasing significance in the investment portfolio, which may enhance overall returns.
- Strong Financial Performance: Argan reported a third-quarter net income of $30.7 million, translating to $2.17 per share, showcasing a significant improvement in profitability that reflects robust demand in the power and renewable energy markets.
- Record Project Backlog: Argan's project backlog has reached $3.0 billion, more than double from the start of the fiscal year, ensuring revenue for the coming years and further solidifying its market position.
See More
Argan (AGX) Sees Backlog Surge to $3 Billion Amid Power Infrastructure Demand
- Record Backlog: Argan's backlog surged to $3 billion in Q3 FY2026, a significant increase from $1.4 billion just two quarters prior, indicating robust demand for power infrastructure projects.
- Strong Financial Position: With no debt and nearly $727 million in cash and equivalents, Argan's solid balance sheet provides a strong foundation for executing its upcoming projects over the next decade.
- Improving Profitability: Despite a revenue decline in the latest quarter, Argan's gross margins, net income, earnings per share, and EBITDA are all trending upward, reflecting the company's ability to enhance profitability even in challenging conditions, boosting investor confidence.
- Strong Stock Performance: Argan's stock has risen 118% over the past 12 months, and while its P/E ratio has reached 45, the high valuation is deemed justified given the significant power needs in the U.S. and abroad, highlighting the company's growth potential.
See More
Argan Inc (AGX) Options Volume Hits 1,601 Contracts, 60.1% of Average Daily Volume
- Active Options Trading: Argan Inc's options volume today reached 1,601 contracts, equivalent to approximately 160,100 shares, indicating a trading activity level of 60.1% of its average daily volume over the past month, which may reflect market interest in its future performance.
- High Strike Call Options: The $370 strike call option has shown particularly high volume today, with 109 contracts traded, representing about 10,900 shares, suggesting that investors are optimistic about the stock's potential for future gains.
- Better Home & Finance Options Activity: In parallel, Better Home & Finance Holding Co saw options trading volume of 2,762 contracts, equivalent to approximately 276,200 shares, indicating a trading activity level of 59.1% of its average daily volume over the past month, reflecting market interest in the company.
- Bullish Options Trend: In BETR's trading, the $90 strike call option stands out with a volume of 1,202 contracts traded today, representing about 120,200 shares, demonstrating investor confidence in its future performance.
See More
Argan (AGX) Director Sells Shares Worth $3.38 Million
- Director Sell-off: Argan's Director Peter W Getsinger sold 10,595 shares on January 7, 2026, for a total of $3.38 million, indicating a cautious outlook on the company's future prospects.
- Market Reaction: This sell-off may trigger short-term volatility in Argan's stock price, prompting investors to monitor subsequent market dynamics and changes in the company's fundamentals.
- Shareholding Structure Change: The director's sale could impact the company's governance structure, necessitating an assessment of its potential effects on corporate decision-making and strategic direction.
- Investor Confidence: While the sell-off might be interpreted as a negative signal, it is essential to analyze it in conjunction with the company's overall performance and market conditions to gauge its impact on long-term investment value.
See More
Cipher Mining Secures $5.5 Billion Deal with Amazon for AI Infrastructure Demand
- Surging Market Demand: Cipher Mining's 15-year, $5.5 billion deal with Amazon Web Services for 300 megawatts of capacity highlights the robust demand for AI infrastructure, which is expected to significantly boost the company's revenue.
- Energy Pipeline Expansion: The acquisition of a 200-megawatt site in Ohio increases Cipher Mining's total pipeline to 3.4 gigawatts, enabling the company to support ten additional deals like the Amazon agreement, further solidifying its market position.
- Massive Revenue Potential: With soaring AI demand, Cipher Mining anticipates generating billions in annual recurring revenue by the end of 2026, indicating its capability to expand nationwide.
- Industry Leadership: Cipher Mining's success not only reflects its leadership in the AI infrastructure sector but also demonstrates the company's ability to seek high-quality opportunities across the country, signaling substantial growth potential ahead.
See More
Cipher Mining Signs $5.5 Billion Deal with Amazon to Expand AI Infrastructure
- Major Contract Signing: Cipher Mining has secured a 15-year deal worth $5.5 billion with Amazon Web Services, providing 300 megawatts of capacity, significantly enhancing its competitive edge in the AI infrastructure market.
- Energy Pipeline Expansion: The company acquired a 200-megawatt site in Ohio, bringing its total pipeline to 3.4 gigawatts, which is expected to support 10 additional deals like the Amazon one, further driving revenue growth.
- Massive Revenue Potential: With soaring AI demand, Cipher Mining anticipates generating billions in annual recurring revenue by the end of 2026, showcasing its strong growth potential in a rapidly evolving market.
- Market Expansion Strategy: This acquisition marks Cipher Mining's first site outside Texas, indicating the company's strategy to seek high-quality opportunities nationwide, further solidifying its market position.
See More
Alpine Investment Management Initiates $16.2 Million Position in Argan (AGX)
- New Position Initiated: Alpine Investment Management has opened a new position in Argan (AGX) worth approximately $16.2 million by acquiring 60,000 shares, indicating strong confidence in the company's future growth prospects.
- Asset Allocation Optimization: Argan now accounts for 13.62% of Alpine's reportable U.S. equity assets, highlighting its increasing significance in the investment portfolio, which may enhance overall returns.
- Strong Financial Performance: Argan reported a third-quarter net income of $30.7 million, translating to $2.17 per share, showcasing a significant improvement in profitability that reflects robust demand in the power and renewable energy markets.
- Record Project Backlog: Argan's project backlog has reached $3.0 billion, more than double from the start of the fiscal year, ensuring revenue for the coming years and further solidifying its market position.
See More
