Sterling Construction Company Inc (NASDAQ:STRL) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Friday. The brokerage presently has a $21.00 price objective on the construction company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 20.76% from the company’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. “

STRL has been the subject of a number of other research reports. Canaccord Genuity reiterated a “buy” rating and set a $15.00 price target on shares of Sterling Construction in a report on Wednesday, August 9th. TheStreet cut Sterling Construction from a “b-” rating to a “c” rating in a report on Monday, August 21st. Finally, BidaskClub cut Sterling Construction from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. One research analyst has rated the stock with a sell rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $17.00.

Sterling Construction (NASDAQ:STRL) last posted its quarterly earnings results on Monday, October 30th. The construction company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. Sterling Construction had a return on equity of 3.90% and a net margin of 0.25%. The business had revenue of $304.20 million during the quarter, compared to analysts’ expectations of $263.69 million. During the same quarter last year, the company posted $0.10 earnings per share. Sterling Construction’s quarterly revenue was up 48.0% on a year-over-year basis.

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A number of hedge funds have recently modified their holdings of the business. Geode Capital Management LLC lifted its position in Sterling Construction by 0.4% during 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 during the last quarter. State Board of Administration of Florida Retirement System lifted its position in Sterling Construction by 21.2% during the third quarter. State Board of Administration of Florida Retirement System now owns 20,677 shares of the construction company’s stock worth $315,000 after acquiring an additional 3,621 shares during the last quarter. Parametric Portfolio Associates LLC lifted its position in Sterling Construction by 16.5% during the second quarter. Parametric Portfolio Associates LLC now owns 32,559 shares of the construction company’s stock worth $426,000 after acquiring an additional 4,603 shares during the last quarter. Citadel Advisors LLC lifted its position in Sterling Construction by 63.6% during the first quarter. Citadel Advisors LLC now owns 17,205 shares of the construction company’s stock worth $159,000 after acquiring an additional 6,691 shares during the last quarter. Finally, Trexquant Investment LP lifted its position in Sterling Construction by 41.2% during the second quarter. Trexquant Investment LP now owns 28,203 shares of the construction company’s stock worth $369,000 after acquiring an additional 8,226 shares during the last quarter. Hedge funds and other institutional investors own 78.03% of the company’s stock.

Sterling Construction Company Profile

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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