Sterling Construction Company Inc (STRL) Lowered to “Sell” at BidaskClub
BidaskClub downgraded shares of Sterling Construction Company Inc (NASDAQ:STRL) from a hold rating to a sell rating in a research note released on Friday.
Several other analysts have also recently commented on the stock. Canaccord Genuity restated a buy rating and set a $15.00 price target on shares of Sterling Construction in a report on Wednesday, August 9th. Zacks Investment Research upgraded shares of Sterling Construction from a hold rating to a strong-buy rating and set a $12.00 target price for the company in a research note on Tuesday, August 8th. TheStreet upgraded shares of Sterling Construction from a c rating to a b- rating in a research note on Wednesday, August 2nd. Finally, DA Davidson upgraded shares of Sterling Construction from a neutral rating to a buy rating and set a $15.00 target price for the company in a research note on Thursday, June 29th. One analyst has rated the stock with a sell rating, two have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Buy and an average target price of $14.00.
Sterling Construction (STRL) opened at 9.64 on Friday. The firm’s 50-day moving average is $12.07 and its 200-day moving average is $10.42. The stock’s market cap is $260.57 million. Sterling Construction has a 1-year low of $6.13 and a 1-year high of $14.93.
Sterling Construction (NASDAQ:STRL) last posted its quarterly earnings results on Wednesday, August 2nd. The construction company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.06 by $0.17. The business had revenue of $264.40 million during the quarter, compared to analysts’ expectations 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 company posted $0.09 earnings per share. On average, analysts forecast that Sterling Construction will post $0.39 EPS for the current year.
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In other Sterling Construction news, Director Milton L. Scott sold 15,000 shares of Sterling Construction stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $10.63, for a total value 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 is available through this hyperlink. 5.20% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of STRL. Argent Capital Management LLC boosted its stake in Sterling Construction by 2.4% in the first quarter. Argent Capital Management LLC now owns 306,530 shares of the construction company’s stock worth $2,835,000 after buying an additional 7,325 shares during the period. Pacific Ridge Capital Partners LLC boosted its stake in Sterling Construction by 22.0% in the first quarter. Pacific Ridge Capital Partners LLC now owns 546,420 shares of the construction company’s stock worth $5,054,000 after buying an additional 98,434 shares during the period. Hancock Holding Co. acquired a new stake in Sterling Construction during the first quarter worth about $181,000. AlphaOne Investment Services LLC boosted its stake in Sterling Construction by 14.9% in the first quarter. AlphaOne Investment Services LLC now owns 475,424 shares of the construction company’s stock worth $4,397,000 after buying an additional 61,824 shares during the period. Finally, Trexquant Investment LP boosted its stake in Sterling Construction by 8.1% in the first quarter. Trexquant Investment LP now owns 19,977 shares of the construction company’s stock worth $185,000 after buying an additional 1,489 shares during the period. Hedge funds and other institutional investors 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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