Sterling Construction Company Inc (STRL) Receives Consensus Recommendation of “Hold” from Analysts
Sterling Construction Company Inc (NASDAQ:STRL) has earned a consensus rating of “Hold” from the five research firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $15.00.
Several equities research analysts recently issued reports on STRL shares. DA Davidson upgraded Sterling Construction from a “neutral” rating to a “buy” rating and set a $15.00 price target for the company in a research note on Thursday, June 29th. Zacks Investment Research cut Sterling Construction from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. BidaskClub cut Sterling Construction from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Canaccord Genuity boosted their price target on Sterling Construction from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, August 3rd. Finally, TheStreet upgraded Sterling Construction from a “c” rating to a “b-” rating in a research note on Wednesday, August 2nd.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Sterling Construction by 10.8% during the first quarter. Vanguard Group Inc. now owns 898,718 shares of the construction company’s stock worth $8,313,000 after purchasing an additional 87,436 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Sterling Construction by 14.0% during the second quarter. Russell Investments Group Ltd. now owns 140,085 shares of the construction company’s stock worth $1,830,000 after purchasing an additional 17,160 shares during the last quarter. Morgan Stanley lifted its stake in Sterling Construction by 2,982.3% during the first quarter. Morgan Stanley now owns 169,097 shares of the construction company’s stock worth $1,564,000 after purchasing an additional 163,611 shares during the last quarter. Chicago Equity Partners LLC bought a new stake in Sterling Construction during the second quarter worth $1,646,000. Finally, Citadel Advisors LLC lifted its stake in Sterling Construction by 84.3% during the second quarter. Citadel Advisors LLC now owns 31,713 shares of the construction company’s stock worth $414,000 after purchasing an additional 14,508 shares during the last quarter. Hedge funds and other institutional investors own 78.39% of the company’s stock.
Shares of Sterling Construction (NASDAQ STRL) opened at 14.41 on Wednesday. The company’s market cap is $389.50 million. The firm has a 50 day moving average price of $14.31 and a 200-day moving average price of $11.65. Sterling Construction has a 12 month low of $6.13 and a 12 month high of $16.05.
Sterling Construction (NASDAQ:STRL) last posted its earnings results on Wednesday, August 2nd. The construction company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.06 by $0.17. Sterling Construction had a positive return on equity of 0.06% and a negative net margin of 0.33%. The company had revenue of $264.40 million for the quarter, compared to the consensus estimate of $231.42 million. During the same quarter in the prior year, the business earned $0.09 earnings per share. The firm’s revenue for the quarter was up 39.5% on a year-over-year basis. Analysts anticipate that Sterling Construction will post $0.39 earnings per share for the current fiscal year.
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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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