Sterling Construction (NASDAQ:STRL) Shares Pass Above Fifty Day Moving Average of $12.97

Sterling Construction Company, Inc. (NASDAQ:STRL)’s stock price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $12.97 and traded as high as $13.65. Sterling Construction shares last traded at $13.50, with a volume of 2,745 shares.

STRL has been the topic of a number of research reports. Zacks Investment Research lowered shares of Haynes International from a “hold” rating to a “sell” rating in a research note on Wednesday, May 8th. BidaskClub upgraded shares of Misonix from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 3rd. Finally, ValuEngine lowered shares of Verso from a “hold” rating to a “sell” rating in a research note on Thursday, May 23rd.

The stock has a market cap of $346.90 million, a P/E ratio of 14.23, a price-to-earnings-growth ratio of 1.08 and a beta of 1.12. The company has a current ratio of 1.66, a quick ratio of 1.64 and a debt-to-equity ratio of 0.51. The business’s 50-day simple moving average is $13.02.

Sterling Construction (NASDAQ:STRL) last released its quarterly earnings results on Monday, May 6th. The construction company reported $0.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by ($0.06). The firm had revenue of $223.90 million for the quarter, compared to analyst estimates of $225.85 million. Sterling Construction had a net margin of 2.36% and a return on equity of 14.67%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.09 EPS. On average, sell-side analysts forecast that Sterling Construction Company, Inc. will post 1.13 EPS for the current fiscal year.

In other news, Director Roger A. Cregg purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were bought at an average price of $11.94 per share, for a total transaction of $119,400.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in STRL. JPMorgan Chase & Co. lifted its holdings in Sterling Construction by 260.1% during the first quarter. JPMorgan Chase & Co. now owns 746,631 shares of the construction company’s stock valued at $9,348,000 after purchasing an additional 539,301 shares in the last quarter. Dalton Greiner Hartman Maher & Co. lifted its holdings in Sterling Construction by 27.5% during the second quarter. Dalton Greiner Hartman Maher & Co. now owns 598,124 shares of the construction company’s stock valued at $8,027,000 after purchasing an additional 129,182 shares in the last quarter. Royce & Associates LP lifted its holdings in Sterling Construction by 8.2% during the first quarter. Royce & Associates LP now owns 562,099 shares of the construction company’s stock valued at $7,037,000 after purchasing an additional 42,626 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Sterling Construction by 182.3% during the first quarter. Assenagon Asset Management S.A. now owns 404,487 shares of the construction company’s stock valued at $5,064,000 after purchasing an additional 261,187 shares in the last quarter. Finally, Pacific Ridge Capital Partners LLC lifted its holdings in Sterling Construction by 13.7% during the first quarter. Pacific Ridge Capital Partners LLC now owns 323,098 shares of the construction company’s stock valued at $4,045,000 after purchasing an additional 38,952 shares in the last quarter. Institutional investors own 82.52% of the company’s stock.

Sterling Construction Company Profile (NASDAQ:STRL)

Sterling Construction Company, Inc, together with its subsidiaries, operates as a heavy civil and residential construction company in Arizona, California, Colorado, Hawaii, Nevada, Texas, Utah, and other states in the United States. The company's Heavy Civil Construction segment undertakes heavy civil construction projects, including highways, roads, bridges, airfields, ports, light rail, water, wastewater and storm drainage systems, foundations for multi-family homes, commercial concrete projects, and parking structures.

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