TheStreet cut shares of Sterling Construction Company Inc (NASDAQ:STRL) from a b- rating to a c rating in a report published on Monday.
Several other research analysts also recently weighed in on STRL. Canaccord Genuity reissued a buy rating and issued a $15.00 target price on shares of Sterling Construction in a research report on Wednesday, August 9th. BidaskClub downgraded shares of Sterling Construction from a hold rating to a sell rating in a research report on Friday, August 18th. Zacks Investment Research raised shares of Sterling Construction from a hold rating to a strong-buy rating and set a $12.00 target price on the stock in a research report on Tuesday, August 8th. Finally, DA Davidson raised shares of Sterling Construction from a neutral rating to a buy rating and set a $15.00 target price on the stock in a research report on Thursday, June 29th. One analyst has rated the stock with a sell rating, two have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Buy and an average price target of $14.00.
Sterling Construction (NASDAQ:STRL) opened at 9.64 on Monday. Sterling Construction has a 1-year low of $6.13 and a 1-year high of $14.93. The stock’s market capitalization is $260.57 million. The firm has a 50-day moving average of $11.78 and a 200-day moving average of $10.41.
Sterling Construction (NASDAQ:STRL) last released its earnings results on Wednesday, August 2nd. The construction company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.17. The business had revenue of $264.40 million for the quarter, compared to the consensus estimate of $231.42 million. Sterling Construction had a negative net margin of 0.33% and a positive return on equity of 0.06%. The firm’s quarterly revenue was up 39.5% compared to the same quarter last year. During the same period last year, the firm posted $0.09 earnings per share. Equities research analysts anticipate that Sterling Construction will post $0.39 EPS for the current year.
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In related news, Director Milton L. Scott sold 15,000 shares of the firm’s stock in a transaction that occurred on 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 SEC, which is accessible through the SEC website. Company insiders own 5.20% of the company’s stock.
Several hedge funds have recently bought and sold shares of STRL. Campbell & CO Investment Adviser LLC bought a new stake in Sterling Construction during the second quarter valued at approximately $143,000. Voya Investment Management LLC bought a new stake in Sterling Construction during the second quarter valued at approximately $144,000. Thompson Davis & CO. Inc. bought a new stake in Sterling Construction during the second quarter valued at approximately $150,000. Airain ltd bought a new stake in Sterling Construction during the second quarter valued at approximately $168,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Sterling Construction during the second quarter valued at approximately $194,000. Institutional investors and hedge funds own 75.14% of the company’s stock.
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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