Argan

AGX

Market cap $6.26B

AI is driving the need for large-scale energy projects. Argan stock has quietly gained 177% in the last year, and 940% over the past three years.

Argan (AGX) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term.

Argan's backlog has more than doubled in its 2026 fiscal year. The company carries no debt and $727 million in cash equivalents.

Shares of Argan, Inc. AGX have surged 49% in the past six months, well above the Zacks Building Products - Miscellaneous industry's 18.2% growth. The stock has further outperformed the broader Construction sector and the S&P 500, which have advanced 12.4% and 14.3%, respectively, in the same period.

Tariffs, inflation and housing headwinds weigh on the industry. Yet, AWI, IBP, AGX, FTDR and ROCK look primed to benefit from infrastructure and innovation tailwinds.

Argan (AGX) is well positioned to outperform the market, as it exhibits above-average growth in financials.

Cipher Mining is signing deals with big tech that can accelerate as its multi-gigawatt pipeline expands. Ondas Holdings is winning new contracts for its drones and projected 3x revenue growth in 2026.

Hong Kong-based Alpine Investment Management added 60,000 shares of Argan in the third quarter. The shares were worth about $16.20 million as of September 30.

Argan has a $3 billion backlog and a long-term plan for rising profits. AI has increased the demand for electricity, and that has helped Argan win more power plant construction contracts.

Argan (AGX) could produce exceptional returns because of its solid growth attributes.