Zacks Investment Research cut shares of Sterling Construction (NASDAQ:STRL) from a buy rating to a hold rating in a research note released on Tuesday morning.
According to Zacks, “Sterling is a leading heavy civil construction company that specializes in the building and reconstruction of transportation and water infrastructure projects in the U.S. The company’s transportation infrastructure projects include highways, roads, bridges, airfields, ports and light rail. Its water infrastructure projects include water, wastewater and storm drainage systems. “
Several other brokerages have also issued reports on STRL. ValuEngine lowered Sterling Construction from a buy rating to a hold rating in a research note on Friday, September 7th. BidaskClub lowered Sterling Construction from a hold rating to a sell rating in a research note on Wednesday, July 25th. Finally, Canaccord Genuity restated a buy rating and set a $20.00 price target on shares of Sterling Construction in a research note on Friday, August 10th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $17.50.
Shares of STRL opened at $12.73 on Tuesday. Sterling Construction has a 12-month low of $10.74 and a 12-month high of $18.90. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.64 and a current ratio of 1.65. The stock has a market cap of $387.56 million, a P/E ratio of 23.15, a PEG ratio of 1.38 and a beta of 0.40.
Sterling Construction (NASDAQ:STRL) last issued its quarterly earnings results on Thursday, August 2nd. The construction company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.05. Sterling Construction had a return on equity of 13.94% and a net margin of 1.99%. The firm had revenue of $268.70 million for the quarter, compared to analyst estimates of $259.95 million. During the same period in the previous year, the company posted $0.13 earnings per share. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. Analysts anticipate that Sterling Construction will post 0.94 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. acquired a new stake in Sterling Construction during the second quarter valued at approximately $135,000. Capital Fund Management S.A. boosted its holdings in Sterling Construction by 28.4% during the second quarter. Capital Fund Management S.A. now owns 22,600 shares of the construction company’s stock valued at $294,000 after purchasing an additional 5,000 shares in the last quarter. Hancock Holding Co. boosted its holdings in Sterling Construction by 22.6% during the first quarter. Hancock Holding Co. now owns 22,921 shares of the construction company’s stock valued at $263,000 after purchasing an additional 4,226 shares in the last quarter. Global X Management Co LLC boosted its holdings in Sterling Construction by 17.1% during the second quarter. Global X Management Co LLC now owns 23,795 shares of the construction company’s stock valued at $310,000 after purchasing an additional 3,476 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in Sterling Construction during the second quarter valued at approximately $324,000. 76.77% of the stock is currently owned by institutional investors.
Sterling Construction Company Profile
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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