Sterling Construction (STRL) Stock Rating Lowered by Zacks Investment Research

Sterling Construction (NASDAQ:STRL) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Friday.

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 brokerages have also recently weighed in on STRL. TheStreet upgraded Sterling Construction from a “c+” rating to a “b-” rating in a research report on Tuesday, December 12th. BidaskClub cut Sterling Construction from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Sterling Construction presently has an average rating of “Buy” and a consensus target price of $17.00.

Sterling Construction (NASDAQ STRL) traded up $0.18 during trading hours on Friday, reaching $15.76. The company’s stock had a trading volume of 340,700 shares, compared to its average volume of 333,700. The company has a quick ratio of 1.42, a current ratio of 1.44 and a debt-to-equity ratio of 0.62. Sterling Construction has a twelve month low of $7.75 and a twelve month high of $18.90. The stock has a market capitalization of $426.33, a P/E ratio of 315.26, a P/E/G ratio of 1.45 and a beta of 0.37.

Sterling Construction (NASDAQ:STRL) last released its earnings results on Monday, October 30th. The construction company reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 the consensus estimate of $263.69 million. During the same period last year, the business posted $0.10 earnings per share. The business’s revenue for the quarter was up 48.0% on a year-over-year basis. analysts forecast that Sterling Construction will post 0.44 EPS for the current year.

In other Sterling Construction news, Director Maarten D. Hemsley sold 29,800 shares of Sterling Construction stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $17.32, for a total transaction of $516,136.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.20% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Citadel Advisors LLC lifted its stake in shares of Sterling Construction by 84.3% in the 2nd quarter. Citadel Advisors LLC now owns 31,713 shares of the construction company’s stock valued at $414,000 after acquiring an additional 14,508 shares during the last quarter. Cornerstone Capital Management Holdings LLC. increased its holdings in Sterling Construction by 43.3% during the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 45,700 shares of the construction company’s stock valued at $596,000 after purchasing an additional 13,800 shares during the period. JPMorgan Chase & Co. purchased a new position in Sterling Construction during the 2nd quarter valued at about $1,897,000. Chicago Equity Partners LLC purchased a new position in Sterling Construction during the 2nd quarter valued at about $1,646,000. Finally, Numeric Investors LLC purchased a new position in Sterling Construction during the 2nd quarter valued at about $933,000. 71.91% of the stock is owned by institutional investors.

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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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