Sterling Construction Company Inc (NASDAQ:STRL) was downgraded by research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued on Monday, July 24th.
A number of other equities analysts also recently weighed in on STRL. DA Davidson raised shares of Sterling Construction from a “neutral” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Thursday, June 29th. Canaccord Genuity reaffirmed a “buy” rating and issued a $12.00 price target on shares of Sterling Construction in a research note on Friday, April 28th. Finally, Zacks Investment Research downgraded shares of Sterling Construction from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. One equities research analyst has rated the stock with a sell rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $14.00.
Shares of Sterling Construction (NASDAQ:STRL) opened at 9.76 on Monday. The stock has a 50 day moving average price of $12.16 and a 200-day moving average price of $10.40. The stock’s market capitalization is $263.81 million. Sterling Construction has a 52-week low of $6.06 and a 52-week high of $14.93.
Sterling Construction (NASDAQ:STRL) last posted its quarterly earnings results on Wednesday, August 2nd. The construction company reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.17. Sterling Construction had a negative net margin of 0.33% and a positive return on equity of 0.06%. The business had revenue of $264.40 million for the quarter, compared to the consensus estimate of $231.42 million. During the same period in the prior year, the business posted $0.09 earnings per share. Sterling Construction’s revenue for the quarter was up 39.5% compared to the same quarter last year. On average, equities research analysts anticipate that Sterling Construction will post $0.39 EPS for the current fiscal year.
In other Sterling Construction news, Director Milton L. Scott sold 15,000 shares of the company’s stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $10.63, for a total transaction of $159,450.00. Following the completion of the sale, the director now directly owns 45,307 shares in the company, valued at $481,613.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.20% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Campbell & CO Investment Adviser LLC bought a new position in shares of Sterling Construction during the second quarter worth approximately $143,000. Voya Investment Management LLC acquired a new position in Sterling Construction during the second quarter valued at about $144,000. Thompson Davis & CO. Inc. acquired a new position in Sterling Construction during the second quarter valued at about $150,000. Airain ltd acquired a new position in Sterling Construction during the second quarter valued at about $168,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Sterling Construction during the second quarter valued at about $194,000. 75.14% of the stock is owned by institutional investors and hedge funds.
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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