Shares of Granite Construction Inc. (NYSE:GVA) have received an average rating of “Buy” from the eleven brokerages that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $67.00.

GVA has been the subject of a number of research analyst reports. Zacks Investment Research raised Granite Construction from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research note on Friday, October 13th. Seaport Global Securities lowered Granite Construction from a “buy” rating to a “neutral” rating and set a $64.00 price target for the company. in a research note on Wednesday, October 11th. FBR & Co reissued a “buy” rating and set a $68.00 price target on shares of Granite Construction in a research note on Tuesday, October 3rd. Canaccord Genuity reissued a “buy” rating and set a $70.00 price target on shares of Granite Construction in a research note on Saturday, August 26th. Finally, Cowen reissued a “buy” rating and set a $70.00 price target on shares of Granite Construction in a research note on Tuesday, September 19th.

In other Granite Construction news, Director William Howard Powell sold 3,103 shares of the firm’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $63.85, for a total transaction of $198,126.55. Following the transaction, the director now directly owns 46,771 shares in the company, valued at approximately $2,986,328.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.30% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. GSA Capital Partners LLP purchased a new position in shares of Granite Construction in the 3rd quarter valued at $289,000. Fieldpoint Private Securities LLC purchased a new position in shares of Granite Construction in the 3rd quarter valued at $106,000. Sterling Capital Management LLC increased its holdings in shares of Granite Construction by 15.8% in the 3rd quarter. Sterling Capital Management LLC now owns 50,429 shares of the construction company’s stock valued at $2,922,000 after acquiring an additional 6,875 shares during the period. Argent Capital Management LLC increased its holdings in shares of Granite Construction by 22.7% in the 3rd quarter. Argent Capital Management LLC now owns 55,355 shares of the construction company’s stock valued at $3,208,000 after acquiring an additional 10,230 shares during the period. Finally, Cubist Systematic Strategies LLC increased its holdings in shares of Granite Construction by 364.5% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 5,109 shares of the construction company’s stock valued at $296,000 after acquiring an additional 4,009 shares during the period. Institutional investors own 98.59% of the company’s stock.

Shares of Granite Construction (GVA) opened at $65.54 on Monday. The stock has a market capitalization of $2,611.83, a P/E ratio of 50.81, a PEG ratio of 5.75 and a beta of 1.24. Granite Construction has a one year low of $45.14 and a one year high of $67.39. The company has a quick ratio of 1.71, a current ratio of 1.79 and a debt-to-equity ratio of 0.24.

Granite Construction (NYSE:GVA) last issued its quarterly earnings results on Friday, October 27th. The construction company reported $1.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.04. Granite Construction had a return on equity of 5.71% and a net margin of 1.84%. The firm had revenue of $957.10 million during the quarter, compared to analyst estimates of $905.14 million. During the same period last year, the company earned $0.92 EPS. Granite Construction’s quarterly revenue was up 19.1% compared to the same quarter last year. sell-side analysts predict that Granite Construction will post 1.63 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.13 per share. The ex-dividend date is Thursday, December 28th. This represents a $0.52 annualized dividend and a yield of 0.79%. Granite Construction’s payout ratio is currently 40.31%.

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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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