Sterling Construction Co. (NASDAQ:STRL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “Sterling Construction Company, Inc. is a holding company which has historically operated as a wholesale distributor to the automotive aftermarket and construction through two subsidiaries, Steel City Products and Dowling’s Fleet Service. “

Separately, DA Davidson set a $9.00 price target on shares of Sterling Construction and gave the stock a “buy” rating in a report on Monday, September 12th.

Shares of Sterling Construction (NASDAQ:STRL) traded up 1.9096% on Wednesday, hitting $7.9999. 129,372 shares of the stock were exchanged. The company has a 50 day moving average of $6.94 and a 200 day moving average of $5.63. The company’s market cap is $200.01 million. Sterling Construction has a 52-week low of $3.69 and a 52-week high of $8.10.

Sterling Construction (NASDAQ:STRL) last announced its quarterly earnings results on Monday, August 1st. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by $0.01. Sterling Construction had a positive return on equity of 12.00% and a negative net margin of 0.96%. The firm earned $189.60 million during the quarter, compared to analysts’ expectations of $189.83 million. During the same period in the previous year, the company posted ($0.13) earnings per share. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. Equities research analysts forecast that Sterling Construction will post $0.16 earnings per share for the current year.

A number of large investors have recently made changes to their positions in STRL. Acadian Asset Management LLC increased its stake in shares of Sterling Construction by 16.3% in the second quarter. Acadian Asset Management LLC now owns 169,843 shares of the company’s stock worth $834,000 after buying an additional 23,833 shares in the last quarter. Emerald Acquisition Ltd. acquired a new position in shares of Sterling Construction during the second quarter worth approximately $2,069,000. Spark Investment Management LLC acquired a new position in shares of Sterling Construction during the first quarter worth approximately $115,000. Brandes Investment Partners LP boosted its position in shares of Sterling Construction by 89.3% in the second quarter. Brandes Investment Partners LP now owns 176,893 shares of the company’s stock worth $868,000 after buying an additional 83,435 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of Sterling Construction by 574.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 86,332 shares of the company’s stock worth $445,000 after buying an additional 73,532 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

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.

5 Day Chart for NASDAQ:STRL

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