Insider Buying: Sterling Construction Company, Inc. (NASDAQ:STRL) CEO Acquires $387,660.00 in Stock
Sterling Construction Company, Inc. (NASDAQ:STRL) CEO Joseph A. Cutillo bought 35,500 shares of the stock in a transaction on Friday, August 16th. The stock was purchased at an average cost of $10.92 per share, with a total value of $387,660.00. Following the purchase, the chief executive officer now directly owns 264,527 shares of the company’s stock, valued at approximately $2,888,634.84. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of STRL stock opened at $11.39 on Friday. The firm has a fifty day moving average of $12.26 and a 200-day moving average of $12.94. The company has a quick ratio of 1.54, a current ratio of 1.56 and a debt-to-equity ratio of 0.43. Sterling Construction Company, Inc. has a 12-month low of $9.71 and a 12-month high of $15.75. The company has a market capitalization of $301.46 million, a price-to-earnings ratio of 12.25 and a beta of 1.10.
Sterling Construction (NASDAQ:STRL) last issued its quarterly earnings data on Monday, August 5th. The construction company reported $0.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.03). Sterling Construction had a return on equity of 14.15% and a net margin of 2.34%. The company had revenue of $264.09 million for the quarter, compared to the consensus estimate of $280.00 million. During the same period in the prior year, the company earned $0.30 EPS. The firm’s revenue was down 1.7% on a year-over-year basis. On average, equities analysts expect that Sterling Construction Company, Inc. will post 1.04 EPS for the current year.
Several brokerages have recently issued reports on STRL. ValuEngine downgraded shares of Sterling Construction from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Zacks Investment Research downgraded shares of Sterling Construction from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Finally, BidaskClub downgraded shares of Sterling Construction from a “buy” rating to a “hold” rating in a research report on Saturday, July 13th.
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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