Zacks Investment Research upgraded shares of Sterling Construction (NASDAQ:STRL) from a sell rating to a hold rating in a report released on Wednesday morning.
According to Zacks, “Sterling is a leading heavy civil construction company that specializes in the building and reconstruction of transportation and water infrastructure projects in the U.S. The company’s transportation infrastructure projects include highways, roads, bridges, airfields, ports and light rail. Its water infrastructure projects include water, wastewater and storm drainage systems. “
STRL has been the topic of a number of other reports. BidaskClub lowered Sterling Construction from a hold rating to a sell rating in a research report on Wednesday, October 24th. ValuEngine upgraded Sterling Construction from a sell rating to a hold rating in a research report on Wednesday, January 2nd. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Sterling Construction has a consensus rating of Buy and a consensus price target of $17.50.
Sterling Construction (NASDAQ:STRL) last released its quarterly earnings data on Tuesday, November 6th. The construction company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.02). Sterling Construction had a net margin of 2.19% and a return on equity of 14.47%. The company had revenue of $291.30 million during the quarter, compared to the consensus estimate of $301.90 million. During the same quarter in the prior year, the company posted $0.26 earnings per share. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. Analysts forecast that Sterling Construction will post 0.92 earnings per share for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC bought a new stake in Sterling Construction during the 3rd quarter worth approximately $110,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Sterling Construction during the 3rd quarter worth approximately $150,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Sterling Construction during the 3rd quarter worth approximately $175,000. Globeflex Capital L P bought a new stake in Sterling Construction during the 3rd quarter worth approximately $258,000. Finally, MetLife Investment Advisors LLC grew its position in Sterling Construction by 54.3% during the 3rd quarter. MetLife Investment Advisors LLC now owns 20,440 shares of the construction company’s stock worth $293,000 after acquiring an additional 7,194 shares during the last quarter. Institutional investors and hedge funds own 78.30% of the company’s stock.
About Sterling Construction
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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