Granite Construction Incorporated (NYSE:GVA)‘s stock had its “hold” rating restated by investment analysts at DA Davidson in a report released on Monday. They presently have a $65.00 price target on the construction company’s stock. DA Davidson’s price target would indicate a potential upside of 2.93% from the stock’s current price.

GVA has been the topic of a number of other research reports. Zacks Investment Research downgraded Granite Construction from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. FBR & Co lifted their target price on Granite Construction from $63.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, August 1st. Cowen and Company reaffirmed a “buy” rating and set a $70.00 target price on shares of Granite Construction in a report on Tuesday, September 19th. Canaccord Genuity reaffirmed a “buy” rating and set a $70.00 target price on shares of Granite Construction in a report on Saturday, August 26th. Finally, Seaport Global Securities downgraded Granite Construction from a “buy” rating to a “neutral” rating and set a $64.00 target price for the company. in a report on Wednesday, October 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $66.25.

Granite Construction (GVA) traded up 0.98% during mid-day trading on Monday, reaching $63.77. 326,698 shares of the company traded hands. The firm has a market capitalization of $2.54 billion, a P/E ratio of 58.03 and a beta of 1.17. Granite Construction has a 12-month low of $43.00 and a 12-month high of $64.92. The company’s 50 day moving average price is $58.01 and its 200 day moving average price is $52.28.

Granite Construction (NYSE:GVA) last released its earnings results on Friday, October 27th. The construction company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The business had revenue of $957.10 million for the quarter, compared to analyst estimates of $905.14 million. Granite Construction had a return on equity of 5.71% and a net margin of 1.84%. The business’s revenue was up 19.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.92 earnings per share. Equities research analysts predict that Granite Construction will post $1.51 EPS for the current year.

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In related news, insider James D. Richards sold 4,000 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $55.50, for a total value of $222,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.30% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. raised its holdings in shares of Granite Construction by 13.0% in the 3rd quarter. Victory Capital Management Inc. now owns 840,187 shares of the construction company’s stock valued at $48,689,000 after buying an additional 96,850 shares during the period. Crossmark Global Holdings Inc. purchased a new stake in shares of Granite Construction in the 3rd quarter valued at $380,000. Peregrine Capital Management LLC raised its holdings in shares of Granite Construction by 14.1% in the 3rd quarter. Peregrine Capital Management LLC now owns 583,713 shares of the construction company’s stock valued at $33,826,000 after buying an additional 72,166 shares during the period. Benjamin F. Edwards & Company Inc. increased its holdings in Granite Construction by 11.5% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 15,570 shares of the construction company’s stock worth $902,000 after purchasing an additional 1,600 shares during the period. Finally, Nationwide Fund Advisors increased its holdings in Granite Construction by 3.6% during the 3rd quarter. Nationwide Fund Advisors now owns 140,621 shares of the construction company’s stock worth $8,149,000 after purchasing an additional 4,900 shares during the period. Hedge funds and other institutional investors own 98.85% of the company’s stock.

About Granite Construction

Granite Construction Incorporated is a heavy civil contractor and construction materials producer in the United States. The Company operates through three segments: Construction, Large Project Construction and Construction Materials. The Company operates across the nation, serving both public and private sector clients.

Analyst Recommendations for Granite Construction (NYSE:GVA)

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