On September 9, Argan rose 5.24% in regular trading, trading at $439.74/share, with turnover of approximately $65.48 million. The stock continued to rally following the release of its fiscal Q2 earnings on September 2, which significantly exceeded Wall Street expectations across all key metrics.

Argan reported fiscal Q2 adjusted EPS of $3.76, well above the FactSet consensus estimate of $2.64 and up 50.4% year-over-year from $2.50. Revenue for the quarter ended July 31 reached $384 million, surging 61.5% from $237.7 million a year earlier and handily beating the analyst estimate of approximately $301 million. This marks the third consecutive quarter of substantial earnings beats, following a Q1 EPS of $3.24 versus the $2.31 estimate and a Q4 report that triggered a 30%-plus single-day surge.

Broader fundamentals continue to underpin the rally. The company signed $2.5 billion in new contracts during fiscal year, pushing its project backlog to approximately $2.9 billion. Argan also expanded its share repurchase program while maintaining a quarterly cash dividend of $0.50 per share. JPMorgan previously upgraded the stock to Overweight with a $550 price target.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)