Sterling Construction (STRL) Rating Increased to Hold at BidaskClub

Sterling Construction (NASDAQ:STRL) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Saturday.

Several other research firms have also weighed in on STRL. Zacks Investment Research lowered Sterling Construction from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 4th. TheStreet raised Sterling Construction from a “c+” rating to a “b-” rating in a research report on Tuesday, December 12th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $17.00.

Sterling Construction (NASDAQ STRL) opened at $15.26 on Friday. The stock has a market capitalization of $413.88, a price-to-earnings ratio of 102.00, a P/E/G ratio of 1.43 and a beta of 0.37. The company has a current ratio of 1.44, a quick ratio of 1.42 and a debt-to-equity ratio of 0.62. Sterling Construction has a 12-month low of $7.75 and a 12-month high of $18.90.

Sterling Construction (NASDAQ:STRL) last announced its earnings results on Monday, October 30th. The construction company reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 analyst estimates of $263.69 million. During the same period last year, the company earned $0.10 EPS. Sterling Construction’s revenue for the quarter was up 48.0% compared to the same quarter last year. equities research analysts anticipate that Sterling Construction will post 0.44 earnings per share for the current year.

In other 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 value of $516,136.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.20% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Citadel Advisors LLC raised its position 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 worth $414,000 after acquiring an additional 14,508 shares in the last quarter. Cornerstone Capital Management Holdings LLC. raised its position in shares of Sterling Construction by 43.3% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 45,700 shares of the construction company’s stock worth $596,000 after acquiring an additional 13,800 shares in the last quarter. JPMorgan Chase & Co. bought a new position in shares of Sterling Construction in the 2nd quarter worth about $1,897,000. Numeric Investors LLC acquired a new stake in shares of Sterling Construction in the 2nd quarter valued at about $933,000. Finally, Renaissance Technologies LLC grew its stake in shares of Sterling Construction by 33.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,479,900 shares of the construction company’s stock valued at $19,342,000 after buying an additional 370,800 shares during the period. 71.91% of the stock is owned by hedge funds and other institutional investors.

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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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