Sterling Construction (NASDAQ:STRL) Price Target Raised to $25.00 at DA Davidson

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Sterling Construction (NASDAQ:STRL) had its target price increased by DA Davidson from $18.00 to $25.00 in a research note released on Wednesday, BenzingaRatingsTable reports. They currently have a buy rating on the construction company’s stock.

Other equities analysts have also issued research reports about the company. Zacks Investment Research lowered Sterling Construction from a hold rating to a sell rating in a research note on Friday, August 9th. BidaskClub upgraded Sterling Construction from a buy rating to a strong-buy rating in a research note on Wednesday, September 25th. Finally, ValuEngine lowered Sterling Construction from a sell rating to a strong sell rating in a research note on Tuesday, October 8th.

Shares of Sterling Construction stock traded up $0.22 on Wednesday, hitting $16.02. The company’s stock had a trading volume of 306,780 shares, compared to its average volume of 188,294. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.54 and a current ratio of 1.56. Sterling Construction has a 1 year low of $9.71 and a 1 year high of $16.60. The firm has a fifty day moving average price of $12.55 and a 200-day moving average price of $12.65. The company has a market capitalization of $418.17 million, a price-to-earnings ratio of 17.56 and a beta of 1.17.

Sterling Construction (NASDAQ:STRL) last announced its quarterly earnings results on Monday, August 5th. The construction company reported $0.29 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.03). Sterling Construction had a net margin of 2.34% and a return on equity of 14.15%. The business had revenue of $264.09 million during the quarter, compared to analysts’ expectations of $280.00 million. During the same quarter in the prior year, the firm earned $0.30 EPS. Sterling Construction’s revenue for the quarter was down 1.7% on a year-over-year basis. As a group, analysts forecast that Sterling Construction will post 1.04 EPS for the current year.

In other news, CEO Joseph A. Cutillo acquired 35,500 shares of the business’s stock in a transaction on Friday, August 16th. The stock was bought at an average cost of $10.92 per share, for a total transaction of $387,660.00. Following the purchase, the chief executive officer now owns 264,527 shares in the company, valued at $2,888,634.84. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joseph A. Cutillo acquired 48,400 shares of the business’s stock in a transaction on Monday, August 19th. The shares were purchased at an average price of $11.01 per share, with a total value of $532,884.00. Following the completion of the purchase, the chief executive officer now owns 264,527 shares in the company, valued at approximately $2,912,442.27. The disclosure for this purchase can be found here. 2.00% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the business. Dalton Greiner Hartman Maher & Co. increased its stake in Sterling Construction by 27.5% during the 2nd quarter. Dalton Greiner Hartman Maher & Co. now owns 598,124 shares of the construction company’s stock worth $8,027,000 after buying an additional 129,182 shares in the last quarter. Campbell & CO Investment Adviser LLC boosted its holdings in shares of Sterling Construction by 83.0% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 36,381 shares of the construction company’s stock worth $488,000 after purchasing an additional 16,498 shares during the last quarter. Marshall Wace North America L.P. acquired a new position in shares of Sterling Construction during the 2nd quarter worth approximately $1,637,000. Stone Ridge Asset Management LLC boosted its holdings in shares of Sterling Construction by 9.7% during the 2nd quarter. Stone Ridge Asset Management LLC now owns 31,632 shares of the construction company’s stock worth $425,000 after purchasing an additional 2,810 shares during the last quarter. Finally, Marshall Wace LLP boosted its holdings in shares of Sterling Construction by 40.1% during the 2nd quarter. Marshall Wace LLP now owns 114,034 shares of the construction company’s stock worth $1,530,000 after purchasing an additional 32,661 shares during the last quarter. Institutional investors own 83.74% of the company’s stock.

Sterling Construction Company Profile

Sterling Construction Company, Inc, together with its subsidiaries, operates as a heavy civil and residential construction company in Arizona, California, Colorado, Hawaii, Nevada, Texas, Utah, and other states in the United States. The company's Heavy Civil Construction segment undertakes heavy civil construction projects, including highways, roads, bridges, airfields, ports, light rail, water, wastewater and storm drainage systems, foundations for multi-family homes, commercial concrete projects, and parking structures.

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