Sterling Infrastructure (NASDAQ:STRL) Shares Gap Up – Here’s What Happened

Sterling Infrastructure, Inc. (NASDAQ:STRL)’s stock price gapped up prior to trading on Wednesday. The stock had previously closed at $289.56, but opened at $315.00. Sterling Infrastructure shares last traded at $308.0540, with a volume of 133,732 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on STRL shares. Weiss Ratings lowered shares of Sterling Infrastructure from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, September 9th. DA Davidson lowered their target price on shares of Sterling Infrastructure from $700.00 to $680.00 and set a “buy” rating for the company in a research note on Friday, October 30th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $742.00 target price on shares of Sterling Infrastructure in a report on Thursday, October 29th. Stifel Nicolaus reduced their price target on shares of Sterling Infrastructure from $804.00 to $742.00 and set a “buy” rating on the stock in a research report on Thursday, October 8th. Finally, Wall Street Zen raised shares of Sterling Infrastructure from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 7th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Sterling Infrastructure presently has a consensus rating of “Moderate Buy” and an average target price of $709.14.

Sterling Infrastructure Trading Down 0.7%

The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.06. The business’s fifty day moving average is $438.64 and its 200 day moving average is $547.56. The firm has a market capitalization of $9.20 billion, a price-to-earnings ratio of 16.92, a price-to-earnings-growth ratio of 0.56 and a beta of 1.97.

Sterling Infrastructure (NASDAQ:STRL) last announced its earnings results on Wednesday, October 28th. The construction company reported $7.58 earnings per share for the quarter, topping analysts’ consensus estimates of $6.20 by $1.38. The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.19 billion. Sterling Infrastructure had a net margin of 12.85% and a return on equity of 45.97%. The firm’s revenue was up 127.0% on a year-over-year basis. Equities analysts predict that Sterling Infrastructure, Inc. will post 20.96 earnings per share for the current year.

Hedge Funds Weigh In On Sterling Infrastructure

A number of large investors have recently modified their holdings of the business. Pursue Wealth Partners LLC acquired a new stake in shares of Sterling Infrastructure in the third quarter valued at about $238,000. Elgethun Capital Management bought a new stake in Sterling Infrastructure during the third quarter worth about $268,000. Polymer Capital Management US LLC acquired a new position in Sterling Infrastructure during the third quarter valued at approximately $324,000. Cvfg LLC boosted its position in Sterling Infrastructure by 20.2% during the third quarter. Cvfg LLC now owns 5,444 shares of the construction company’s stock valued at $2,677,000 after purchasing an additional 915 shares during the last quarter. Finally, AlphaGrep UK Ltd boosted its position in Sterling Infrastructure by 40.8% during the third quarter. AlphaGrep UK Ltd now owns 869 shares of the construction company’s stock valued at $427,000 after purchasing an additional 252 shares during the last quarter. 80.95% of the stock is currently owned by institutional investors and hedge funds.

Sterling Infrastructure Company Profile

Sterling Infrastructure, Inc. (NASDAQ: STRL) is a U.S.-based construction company that delivers infrastructure and building services through its E-Infrastructure Solutions, Transportation Solutions and Building Solutions segments. E-Infrastructure Solutions provides site development and related services for data centers, manufacturing facilities, distribution centers and other large-scale projects. Transportation Solutions builds and improves public infrastructure, including roads and bridges, while Building Solutions focuses on concrete foundations and other construction services for residential and commercial customers.