Sterling Infrastructure (NASDAQ:STRL) Shares Down 14.4% – Time to Sell?

Sterling Infrastructure, Inc. (NASDAQ:STRL)’s share price was down 14.4% on Wednesday. The stock traded as low as $300.15 and last traded at $308.9690. Approximately 411,300 shares were traded during mid-day trading, a decline of 36% from the average session volume of 647,001 shares. The stock had previously closed at $361.14.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Zacks Research cut Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 7th. DA Davidson dropped their target price on Sterling Infrastructure from $700.00 to $680.00 and set a “buy” rating on the stock in a report on Friday, October 30th. KeyCorp increased their target price on Sterling Infrastructure from $754.00 to $755.00 and gave the stock an “overweight” rating in a research note on Thursday, October 15th. Wall Street Zen downgraded Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 5th. Finally, Stifel Nicolaus lowered their price target on Sterling Infrastructure from $804.00 to $742.00 and set a “buy” rating for the company in a research report on Thursday, October 8th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $729.83.

Sterling Infrastructure Price Performance

The stock has a market capitalization of $8.58 billion, a P/E ratio of 15.85, a price-to-earnings-growth ratio of 0.63 and a beta of 1.97. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.04 and a quick ratio of 1.04. The business’s 50 day moving average price is $466.20 and its 200 day moving average price is $550.10.

Sterling Infrastructure (NASDAQ:STRL) last announced its earnings results on Wednesday, October 28th. The construction company reported $7.58 EPS for the quarter, beating analysts’ consensus estimates of $6.20 by $1.38. Sterling Infrastructure had a net margin of 12.85% and a return on equity of 45.97%. The business had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.19 billion. The firm’s quarterly revenue was up 127.0% on a year-over-year basis. Sell-side analysts forecast that Sterling Infrastructure, Inc. will post 20.91 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in STRL. Retirement Systems of Alabama increased its stake in shares of Sterling Infrastructure by 10.8% during the third quarter. Retirement Systems of Alabama now owns 35,165 shares of the construction company’s stock valued at $17,293,000 after buying an additional 3,427 shares during the period. Ethic Inc. raised its position in shares of Sterling Infrastructure by 100.5% in the 3rd quarter. Ethic Inc. now owns 3,529 shares of the construction company’s stock worth $1,735,000 after acquiring an additional 1,769 shares in the last quarter. Formidable Asset Management LLC lifted its stake in shares of Sterling Infrastructure by 104.6% during the 3rd quarter. Formidable Asset Management LLC now owns 1,074 shares of the construction company’s stock worth $528,000 after purchasing an additional 549 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of Sterling Infrastructure by 31.0% during the 3rd quarter. Parallel Advisors LLC now owns 431 shares of the construction company’s stock worth $212,000 after purchasing an additional 102 shares during the last quarter. Finally, May Hill Capital LLC purchased a new stake in shares of Sterling Infrastructure during the 3rd quarter worth $268,000. Hedge funds and other institutional investors own 80.95% of the company’s stock.

About Sterling Infrastructure

Sterling Infrastructure, Inc is a U.S.-based infrastructure services company that provides construction and specialty contracting solutions through three principal business segments: E-Infrastructure Solutions, Transportation Solutions and Building Solutions.

Its E-Infrastructure Solutions segment supports the development of data centers, advanced manufacturing facilities, energy and power infrastructure, and other large-scale industrial projects. Transportation Solutions provides construction and rehabilitation services for highways, roads, bridges, airports, rail and transit systems, and related public infrastructure.