Granite Construction Price Target Raised to $32.00 at FBR Capital Markets (GVA)
FBR Capital Markets increased their price objective on shares of Granite Construction (NYSE:GVA) from $31.00 to $32.00 in a research note issued on Tuesday, American Banking and Market News reports. The firm currently has a “market perform” rating on the stock. FBR Capital Markets’ price objective would suggest a potential upside of 7.74% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at TheStreet downgraded shares of Granite Construction (NYSE:GVA) from a “buy” rating to a “hold” rating in a research note to investors on Friday. Analysts at Zacks upgraded shares of Granite Construction (NYSE:GVA) from an “underperform” rating to a “neutral” rating in a research note to investors on Monday, July 15th. They now have a $31.60 price target on the stock.
Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Granite Construction presently has a consensus rating of “Hold” and a consensus target price of $33.20.
Granite Construction (NYSE:GVA) traded up 0.61% on Tuesday, hitting $29.88. 5,458 shares of the company’s stock traded hands. Granite Construction has a 52 week low of $26.07 and a 52 week high of $37.74. The stock’s 50-day moving average is $30.01 and its 200-day moving average is $30.24. The company has a market cap of $1.160 billion and a price-to-earnings ratio of 32.75.
Granite Construction (NYSE:GVA) last released its earnings data on Thursday, August 1st. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by $0.25. The company had revenue of $550.20 million for the quarter, compared to the consensus estimate of $659.68 million. During the same quarter in the previous year, the company posted $0.05 earnings per share. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, analysts predict that Granite Construction will post $0.66 earnings per share for the current fiscal year.
Granite Construction Incorporated is a diversified heavy civil contractors and construction materials producers in the United States.
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