Granite Construction (NYSE:GVA) was upgraded by investment analysts at DA Davidson from a “neutral” rating to a “buy” rating in a research report issued on Thursday, April 5th, MarketBeat reports.
A number of other equities analysts have also recently issued reports on the company. Zacks Investment Research cut Granite Construction from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. Cowen increased their target price on Granite Construction from $70.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, January 18th. Finally, ValuEngine cut Granite Construction from a “hold” rating to a “sell” rating in a report on Monday, April 2nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $72.00.
Granite Construction stock opened at $55.09 on Thursday. Granite Construction has a 52 week low of $45.14 and a 52 week high of $68.58. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.88 and a quick ratio of 1.78. The stock has a market cap of $2,197.56, a P/E ratio of 34.01, a price-to-earnings-growth ratio of 2.46 and a beta of 1.32.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fieldpoint Private Securities LLC bought a new position in Granite Construction during the 3rd quarter valued at approximately $106,000. Global X Management Co. LLC raised its position in Granite Construction by 75.2% during the 4th quarter. Global X Management Co. LLC now owns 2,760 shares of the construction company’s stock valued at $175,000 after purchasing an additional 1,185 shares during the last quarter. Advisor Group Inc. raised its position in Granite Construction by 65.3% during the 4th quarter. Advisor Group Inc. now owns 3,077 shares of the construction company’s stock valued at $195,000 after purchasing an additional 1,215 shares during the last quarter. Tocqueville Asset Management L.P. bought a new position in Granite Construction during the 4th quarter valued at approximately $203,000. Finally, Investment House LLC bought a new position in Granite Construction during the 4th quarter valued at approximately $214,000. 96.06% of the stock is owned by institutional investors and hedge funds.
About Granite Construction
Granite Construction Incorporated operates as a heavy civil contractor and a construction materials producer in the United States. The company operates through three segments: Construction, Large Project Construction, and Construction Materials. The Construction segment undertakes various civil construction projects focusing on new construction and improvement of streets, roads, highways, bridges, site work, underground, power-related facilities, water-related facilities, utilities, and other infrastructure projects.
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