Sterling Construction Company Inc (NASDAQ:STRL) – Equities researchers at DA Davidson raised their FY2017 earnings estimates for Sterling Construction in a report issued on Thursday. DA Davidson analyst B. Thielman now forecasts that the construction company will earn $0.40 per share for the year, up from their previous estimate of $0.37. DA Davidson currently has a “Buy” rating and a $15.00 target price on the stock.

Sterling Construction (NASDAQ:STRL) last released its earnings results on Wednesday, August 2nd. The construction company reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.17. Sterling Construction had a negative net margin of 0.33% and a positive return on equity of 0.06%. The business had revenue of $264.40 million during the quarter, compared to analyst estimates of $231.42 million. During the same quarter in the prior year, the firm earned $0.09 earnings per share. The company’s revenue for the quarter was up 39.5% compared to the same quarter last year.

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A number of other equities research analysts also recently commented on the company. TheStreet raised Sterling Construction from a “c” rating to a “b-” rating in a report on Wednesday, August 2nd. Canaccord Genuity raised their target price on Sterling Construction from $13.00 to $15.00 and gave the company a “buy” rating in a report on Thursday. BidaskClub downgraded Sterling Construction from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, Zacks Investment Research downgraded Sterling Construction from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Sterling Construction presently has a consensus rating of “Buy” and a consensus price target of $14.00.

Shares of Sterling Construction (NASDAQ STRL) opened at 10.33 on Monday. Sterling Construction has a 12-month low of $5.99 and a 12-month high of $14.93. The stock’s market cap is $279.19 million. The stock’s 50 day moving average is $12.40 and its 200-day moving average is $10.27.

In other news, Director Milton L. Scott sold 15,000 shares of the firm’s stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $10.63, for a total value of $159,450.00. Following the completion of the transaction, the director now owns 45,307 shares in the company, valued at $481,613.41. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 5.20% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hennessy Advisors Inc. purchased a new position in shares of Sterling Construction during the first quarter worth $4,051,000. Thomson Horstmann & Bryant Inc. purchased a new position in shares of Sterling Construction during the second quarter worth $3,060,000. Dimensional Fund Advisors LP boosted its position in shares of Sterling Construction by 23.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,208,659 shares of the construction company’s stock worth $10,225,000 after buying an additional 232,453 shares in the last quarter. Dalton Greiner Hartman Maher & Co. boosted its position in shares of Sterling Construction by 99.8% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 399,677 shares of the construction company’s stock worth $3,697,000 after buying an additional 199,597 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Sterling Construction by 111.2% in the first quarter. Wells Fargo & Company MN now owns 356,398 shares of the construction company’s stock worth $3,297,000 after buying an additional 187,631 shares in the last quarter. Institutional investors and hedge funds own 74.58% of the company’s stock.

About Sterling Construction

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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