Sterling Construction Co. (NASDAQ:STRL) was downgraded by stock analysts at DA Davidson from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Monday. They presently have a $9.00 target price on the stock. DA Davidson’s price objective would suggest a potential upside of 15.24% from the stock’s previous close. The analysts noted that the move was a valuation call.
Separately, Zacks Investment Research upgraded shares of Sterling Construction from a “sell” rating to a “hold” rating in a research report on Wednesday, October 5th.
Shares of Sterling Construction (NASDAQ:STRL) opened at 7.81 on Monday. Sterling Construction has a 52-week low of $3.69 and a 52-week high of $8.60. The firm’s 50-day moving average price is $7.40 and its 200 day moving average price is $5.85. The company’s market capitalization is $195.27 million.
Sterling Construction (NASDAQ:STRL) last posted its quarterly earnings results on Monday, August 1st. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by $0.01. The business had revenue of $189.60 million for the quarter, compared to analyst estimates of $189.83 million. Sterling Construction had a positive return on equity of 12.00% and a negative net margin of 0.96%. The business’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.13) earnings per share. On average, equities analysts forecast that Sterling Construction will post $0.16 earnings per share for the current year.
A number of institutional investors have recently modified their holdings of the company. Spark Investment Management LLC purchased a new position in shares of Sterling Construction during the first quarter worth approximately $115,000. AJO LP purchased a new position in shares of Sterling Construction during the second quarter worth approximately $174,000. Advisory Research Inc. purchased a new position in shares of Sterling Construction during the second quarter worth approximately $197,000. DIAM Co. Ltd. purchased a new position in shares of Sterling Construction during the second quarter worth approximately $199,000. Finally, Algert Global LLC purchased a new position in shares of Sterling Construction during the third quarter worth approximately $462,000. 66.13% of the stock is currently owned by institutional investors.
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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