Argan and Lemonade receive stock downgrades

Argan and Lemonade have both received recent rating downgrades from Wall Street Zen.

Argan was downgraded from a ‘buy’ to a ‘hold’ rating. Other recent analyst actions include Lake Street Capital increasing its target price to $600 while maintaining a ‘hold’ rating, and Zacks Research lowering its rating to ‘hold’. Despite the downgrades, Argan recently reported quarterly earnings that exceeded consensus estimates, with revenue of $290.95 million and earnings per share of $3.24.

Lemonade was downgraded from a ‘hold’ to a ‘sell’ rating. This follows various adjustments from other firms, such as Morgan Stanley lowering its price target to $56.00 with an ‘equal weight’ rating. The company currently holds a consensus rating of ‘hold’ with an average price target of $64.50.