Zacks Investment Research upgraded shares of Sterling Construction Company Inc (NASDAQ:STRL) from a hold rating to a strong-buy rating in a research note published on Friday, November 3rd. Zacks Investment Research currently has $21.00 price target on the construction company’s stock.
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 equities research analysts also recently commented on STRL. Canaccord Genuity reiterated a buy rating and set a $15.00 price objective on shares of Sterling Construction in a research note on Wednesday, August 9th. BidaskClub downgraded shares of Sterling Construction from a hold rating to a sell rating in a research report on Friday, August 18th. Finally, TheStreet downgraded shares of Sterling Construction from a b- rating to a c rating in a research report on Monday, August 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $17.00.
Sterling Construction (NASDAQ STRL) traded down $0.12 during midday trading on Friday, reaching $17.20. 217,500 shares of the company’s stock traded hands, compared to its average volume of 299,829. The company has a quick ratio of 1.42, a current ratio of 1.44 and a debt-to-equity ratio of 0.62. Sterling Construction has a fifty-two week low of $7.60 and a fifty-two week high of $18.82. The stock has a market capitalization of $465.28, a price-to-earnings ratio of 115.47, a P/E/G ratio of 3.54 and a beta of 0.39.
Sterling Construction (NASDAQ:STRL) last released its quarterly earnings results on Monday, October 30th. The construction company reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.04. Sterling Construction had a net margin of 0.25% and a return on equity of 3.90%. The business had revenue of $304.20 million for the quarter, compared to analyst estimates of $263.69 million. During the same period in the previous year, the company earned $0.10 earnings per share. The business’s revenue for the quarter was up 48.0% on a year-over-year basis. analysts forecast that Sterling Construction will post 0.44 EPS for the current year.
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Several hedge funds have recently added to or reduced their stakes in the company. Campbell & CO Investment Adviser LLC purchased a new stake in Sterling Construction during the 2nd quarter valued at about $143,000. Voya Investment Management LLC acquired a new position in Sterling Construction in the 2nd quarter valued at about $144,000. Highbridge Capital Management LLC acquired a new position in Sterling Construction in the 1st quarter valued at about $150,000. Thompson Davis & CO. Inc. acquired a new position in shares of Sterling Construction in the 2nd quarter worth approximately $150,000. Finally, Citadel Advisors LLC lifted its holdings in shares of Sterling Construction by 63.6% in the 1st quarter. Citadel Advisors LLC now owns 17,205 shares of the construction company’s stock worth $159,000 after acquiring an additional 6,691 shares during the last quarter. 79.55% of the stock is owned by institutional investors and hedge funds.
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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