Sterling Infrastructure (NASDAQ:STRL) Stock Rating Raised to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Sterling Infrastructure (NASDAQ:STRL) from a buy rating to a strong-buy rating in a research report released on Saturday,Wall Street Zen reports.

Several other analysts have also recently weighed in on the company. DA Davidson dropped their price objective on Sterling Infrastructure from $700.00 to $680.00 and set a “buy” rating for the company in a report on Friday, October 30th. Stifel Nicolaus reduced their target price on shares of Sterling Infrastructure from $804.00 to $742.00 and set a “buy” rating on the stock in a research note on Thursday, October 8th. Cantor Fitzgerald reiterated an “overweight” rating and set a $742.00 price target on shares of Sterling Infrastructure in a research report on Thursday, October 29th. KeyCorp boosted their price target on shares of Sterling Infrastructure from $754.00 to $755.00 and gave the stock an “overweight” rating in a research note on Thursday, October 15th. Finally, Zacks Research lowered shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $729.83.

Sterling Infrastructure Stock Up 3.5%

Shares of STRL opened at $252.82 on Friday. The firm has a market capitalization of $7.71 billion, a price-to-earnings ratio of 14.19, a PEG ratio of 0.47 and a beta of 1.97. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.04 and a current ratio of 1.04. The business’s fifty day moving average price is $452.01 and its two-hundred day moving average price is $548.82. Sterling Infrastructure has a 52 week low of $239.35 and a 52 week high of $1,005.68.

Sterling Infrastructure (NASDAQ:STRL) last released 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. Sterling Infrastructure had a return on equity of 45.97% and a net margin of 12.85%. The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.19 billion. The business’s revenue was up 127.0% on a year-over-year basis. On average, analysts predict that Sterling Infrastructure will post 20.96 earnings per share for the current year.

Institutional Investors Weigh In On Sterling Infrastructure

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Engle Capital Management L.P. lifted its holdings in shares of Sterling Infrastructure by 156.5% during the 1st quarter. Engle Capital Management L.P. now owns 26,500 shares of the construction company’s stock valued at $10,793,000 after purchasing an additional 16,167 shares in the last quarter. Jupiter Topco LLC acquired a new position in shares of Sterling Infrastructure in the 2nd quarter valued at approximately $395,056,000. Equitable Holdings Inc. acquired a new position in shares of Sterling Infrastructure in the 2nd quarter valued at approximately $5,012,000. The Manufacturers Life Insurance Company increased its stake in Sterling Infrastructure by 191.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 97,448 shares of the construction company’s stock worth $81,794,000 after purchasing an additional 63,994 shares in the last quarter. Finally, Engineers Gate Manager LP bought a new stake in Sterling Infrastructure during the 2nd quarter worth approximately $10,804,000. Institutional investors own 80.95% of the company’s stock.

About Sterling Infrastructure

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.

Formerly known as Sterling Construction Company, the business traces its roots to 1955 and adopted the Sterling Infrastructure name in 2022.