Sterling Construction (STRL) Cut to Hold at Zacks Investment Research

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Zacks Investment Research lowered shares of Sterling Construction (NASDAQ:STRL) from a buy rating to a hold rating in a research report 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 equities analysts have also weighed in on the company. ValuEngine lowered Sterling Construction from a buy rating to a hold rating in a report on Friday, September 7th. Canaccord Genuity restated a buy rating and set a $20.00 target price on shares of Sterling Construction in a report on Friday, August 10th. Finally, BidaskClub upgraded Sterling Construction from a sell rating to a hold rating in a report on Wednesday, August 8th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Sterling Construction has an average rating of Hold and an average price target of $17.50.

STRL opened at $12.73 on Tuesday. The firm 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 has a 1 year low of $10.74 and a 1 year high of $18.90. The company has a quick ratio of 1.64, a current ratio of 1.65 and a debt-to-equity ratio of 0.54.

Sterling Construction (NASDAQ:STRL) last posted its earnings results on Thursday, August 2nd. The construction company reported $0.30 earnings per share for the quarter, beating the Thomson Reuters’ 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 company had revenue of $268.70 million for the quarter, compared to analyst estimates of $259.95 million. During the same period last year, the company earned $0.13 earnings per share. The business’s revenue was up 9.1% compared to the same quarter last year. As a group, analysts predict that Sterling Construction will post 0.94 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. bought a new position in shares of Sterling Construction in the second quarter worth about $135,000. Hancock Holding Co. increased its stake in shares of Sterling Construction by 22.6% in the first quarter. Hancock Holding Co. now owns 22,921 shares of the construction company’s stock worth $263,000 after purchasing an additional 4,226 shares during the period. Capital Fund Management S.A. increased its stake in shares of Sterling Construction by 28.4% in the second quarter. Capital Fund Management S.A. now owns 22,600 shares of the construction company’s stock worth $294,000 after purchasing an additional 5,000 shares during the period. Global X Management Co LLC increased its stake in shares of Sterling Construction by 17.1% in the second quarter. Global X Management Co LLC now owns 23,795 shares of the construction company’s stock worth $310,000 after purchasing an additional 3,476 shares during the period. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of Sterling Construction in the second quarter worth about $324,000. Institutional investors own 76.77% of the company’s stock.

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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