Sterling Construction Company Inc (NASDAQ:STRL) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Friday. The firm presently has a $21.00 price objective on the construction company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 20.41% from the company’s current price.
According to Zacks, “Sterling Construction Company, Inc. is a holding company which has historically operated as a wholesale distributor to the automotive aftermarket and construction through two subsidiaries, Steel City Products and Dowling’s Fleet Service. “
Several other analysts have also recently issued reports on STRL. BidaskClub cut Sterling Construction from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Canaccord Genuity upped their target price on Sterling Construction from $13.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. Finally, TheStreet raised Sterling Construction from a “c” rating to a “b-” rating in a report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Sterling Construction currently has an average rating of “Buy” and an average target price of $17.00.
Shares of Sterling Construction (STRL) traded up $0.05 during midday trading on Friday, reaching $17.44. The company’s stock had a trading volume of 346,968 shares, compared to its average volume of 407,878. Sterling Construction has a 12-month low of $6.50 and a 12-month high of $18.82. The firm has a market capitalization of $471.77, a PE ratio of 116.27, a P/E/G ratio of 3.56 and a beta of 0.39. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.44 and a quick ratio of 1.37.
Sterling Construction (NASDAQ:STRL) last announced its quarterly earnings data on Monday, October 30th. The construction company reported $0.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.04. Sterling Construction had a return on equity of 3.90% and a net margin of 0.25%. The firm had revenue of $304.20 million for the quarter, compared to analysts’ expectations of $263.69 million. During the same quarter in the prior year, the firm posted $0.10 earnings per share. Sterling Construction’s revenue for the quarter was up 48.0% compared to the same quarter last year. research analysts anticipate that Sterling Construction will post 0.44 EPS for the current fiscal year.
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Large investors have recently bought and sold shares of the company. Campbell & CO Investment Adviser LLC bought a new position in shares of Sterling Construction during the second quarter valued at approximately $143,000. Voya Investment Management LLC bought a new position in shares of Sterling Construction during the second quarter valued at approximately $144,000. Highbridge Capital Management LLC bought a new position in shares of Sterling Construction during the first quarter valued at approximately $150,000. Thompson Davis & CO. Inc. bought a new position in shares of Sterling Construction during the second quarter valued at approximately $150,000. Finally, Citadel Advisors LLC grew its holdings in shares of Sterling Construction by 63.6% during the first quarter. Citadel Advisors LLC now owns 17,205 shares of the construction company’s stock valued at $159,000 after purchasing an additional 6,691 shares during the last quarter. 78.03% of the stock is owned by institutional investors.
Sterling Construction Company Profile
Sterling Construction Company, Inc is a heavy civil construction company engaged in the building and reconstruction of transportation and water infrastructure projects in Texas, Utah, Nevada, Arizona, California, Hawaii and other states. The Company’s transportation infrastructure projects include highways, roads, bridges, airfields, ports and light rail.
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