Sterling Construction Company Inc (NASDAQ:STRL) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday.

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 brokerages have also issued reports on STRL. BidaskClub lowered shares of Sterling Construction from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. DA Davidson upgraded shares of Sterling Construction from a “neutral” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Thursday, June 29th. Canaccord Genuity reiterated a “buy” rating and issued a $15.00 target price on shares of Sterling Construction in a research report on Wednesday, August 9th. Finally, TheStreet upgraded shares of Sterling Construction from a “c” rating to a “b-” rating in a research report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. Sterling Construction presently has an average rating of “Hold” and a consensus target price of $14.00.

Shares of Sterling Construction (NASDAQ STRL) traded down 0.71% on Wednesday, hitting $15.36. The stock had a trading volume of 254,045 shares. The company’s market capitalization is $415.18 million. The firm has a 50-day moving average of $13.10 and a 200 day moving average of $11.35. Sterling Construction has a 1-year low of $6.13 and a 1-year high of $16.05.

Sterling Construction (NASDAQ:STRL) last announced its earnings results on Wednesday, August 2nd. The construction company reported $0.23 earnings per share (EPS) for the quarter, topping the 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 company had revenue of $264.40 million during the quarter, compared to analyst estimates of $231.42 million. During the same period in the previous year, the business earned $0.09 earnings per share. The firm’s quarterly revenue was up 39.5% compared to the same quarter last year. On average, equities analysts anticipate that Sterling Construction will post $0.39 earnings per share for the current fiscal year.

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A number of large investors have recently made changes to their positions in the stock. California State Teachers Retirement System purchased a new position in Sterling Construction in the second quarter worth $599,000. Argent Capital Management LLC boosted its position in Sterling Construction by 14.0% during the second quarter. Argent Capital Management LLC now owns 349,505 shares of the construction company’s stock valued at $4,568,000 after buying an additional 42,975 shares during the period. The Manufacturers Life Insurance Company boosted its position in Sterling Construction by 17,821.8% during the second quarter. The Manufacturers Life Insurance Company now owns 25,449 shares of the construction company’s stock valued at $332,000 after buying an additional 25,307 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in Sterling Construction by 45.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 134,934 shares of the construction company’s stock valued at $1,764,000 after buying an additional 42,428 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in Sterling Construction during the second quarter valued at about $194,000. Institutional investors own 78.39% 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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