Shares of Granite Construction Inc. (NYSE:GVA) have been given an average recommendation of “Hold” by the eight ratings firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $57.80.
A number of research firms recently issued reports on GVA. ValuEngine cut Granite Construction from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. B. Riley reiterated a “buy” rating and issued a $53.00 target price (down from $66.00) on shares of Granite Construction in a report on Monday, April 29th. Finally, MKM Partners set a $61.00 target price on Granite Construction and gave the stock a “buy” rating in a report on Friday, March 22nd.
GVA traded up $0.22 during trading hours on Monday, reaching $40.25. 181,343 shares of the company’s stock traded hands, compared to its average volume of 328,683. Granite Construction has a 52-week low of $38.55 and a 52-week high of $59.28. The company has a quick ratio of 1.97, a current ratio of 2.12 and a debt-to-equity ratio of 0.24. The stock has a market cap of $1.88 billion, a P/E ratio of 17.20, a PEG ratio of 2.10 and a beta of 1.20.
Granite Construction (NYSE:GVA) last posted its quarterly earnings data on Friday, April 26th. The construction company reported ($0.57) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.35). Granite Construction had a net margin of 0.57% and a return on equity of 6.03%. The business had revenue of $619.80 million for the quarter, compared to analysts’ expectations of $644.46 million. During the same quarter in the previous year, the firm earned ($0.13) EPS. Granite Construction’s revenue was up 10.0% compared to the same quarter last year. Equities analysts anticipate that Granite Construction will post 2.83 EPS for the current fiscal year.
Several hedge funds have recently modified their holdings of the business. Mason Street Advisors LLC lifted its holdings in shares of Granite Construction by 1.1% in the 1st quarter. Mason Street Advisors LLC now owns 24,826 shares of the construction company’s stock worth $1,071,000 after buying an additional 261 shares during the period. B. Riley Financial Inc. raised its position in shares of Granite Construction by 4.6% in the 1st quarter. B. Riley Financial Inc. now owns 7,367 shares of the construction company’s stock worth $318,000 after acquiring an additional 323 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Granite Construction by 6.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,974 shares of the construction company’s stock worth $344,000 after acquiring an additional 492 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of Granite Construction by 5.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 9,312 shares of the construction company’s stock worth $375,000 after acquiring an additional 516 shares in the last quarter. Finally, Tompkins Financial Corp raised its position in shares of Granite Construction by 47.8% in the 1st quarter. Tompkins Financial Corp now owns 1,700 shares of the construction company’s stock worth $73,000 after acquiring an additional 550 shares in the last quarter. Institutional investors and hedge funds own 99.02% of the company’s stock.
Granite Construction Company Profile
Granite Construction Incorporated operates as an infrastructure contractor and a construction materials producer in the United States. The company operates through Transportation, Water, Specialty, and Materials segments. The Transportation segment engages in the construction and rehabilitation of roads, pavement preservation, bridges, rail lines, airports, and marine ports.
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