Sterling Construction Company Inc (NASDAQ:STRL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The firm currently has a $16.00 target price on the construction company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 8.70% from the stock’s current price.

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 research firms have also recently commented on STRL. TheStreet upgraded Sterling Construction from a “c” rating to a “b-” rating in a research note on Wednesday, August 2nd. BidaskClub cut Sterling Construction from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. Canaccord Genuity upped their price target on Sterling Construction from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Finally, 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $15.33.

Sterling Construction (NASDAQ:STRL) traded up 2.51% during trading on Thursday, hitting $14.72. 351,978 shares of the stock traded hands. The stock’s market cap is $397.88 million. Sterling Construction has a 12 month low of $6.13 and a 12 month high of $16.05. The firm’s 50-day moving average is $14.66 and its 200-day moving average is $11.81.

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

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A number of large investors have recently added to or reduced their stakes in STRL. Bank of New York Mellon Corp raised its position in Sterling Construction by 74.3% in the first quarter. Bank of New York Mellon Corp now owns 24,690 shares of the construction company’s stock worth $228,000 after acquiring an additional 10,528 shares in the last quarter. Vanguard Group Inc. raised its position in Sterling Construction by 10.8% in the first quarter. Vanguard Group Inc. now owns 898,718 shares of the construction company’s stock worth $8,313,000 after acquiring an additional 87,436 shares in the last quarter. Geode Capital Management LLC raised its position in Sterling Construction by 0.4% in the first quarter. Geode Capital Management LLC now owns 142,942 shares of the construction company’s stock worth $1,322,000 after acquiring an additional 558 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Sterling Construction by 14.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,385,898 shares of the construction company’s stock worth $12,819,000 after acquiring an additional 177,239 shares in the last quarter. Finally, Morgan Stanley raised its position in Sterling Construction by 2,982.3% in the first quarter. Morgan Stanley now owns 169,097 shares of the construction company’s stock worth $1,564,000 after acquiring an additional 163,611 shares in the last quarter. Hedge funds and other 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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