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. “
Other equities analysts also recently issued research reports about the company. ValuEngine downgraded Sterling Construction from a hold rating to a sell rating in a research report on Thursday, April 2nd. DA Davidson lowered their target price on Sterling Construction from $20.00 to $15.00 and set a buy rating for the company in a report on Friday, April 3rd. Finally, BidaskClub upgraded Sterling Construction from a sell rating to a hold rating in a report on Tuesday, June 9th.
Shares of Sterling Construction stock opened at $10.47 on Tuesday. The stock’s fifty day moving average is $9.48 and its two-hundred day moving average is $11.40. The company has a market capitalization of $292.95 million, a PE ratio of 7.03 and a beta of 1.21. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.90. Sterling Construction has a 52 week low of $6.72 and a 52 week high of $17.49.
Sterling Construction (NASDAQ:STRL) last announced its quarterly earnings data on Monday, May 4th. The construction company reported $0.12 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.10). The business had revenue of $296.69 million during the quarter, compared to the consensus estimate of $283.00 million. Sterling Construction had a net margin of 3.44% and a return on equity of 13.79%. As a group, research analysts anticipate that Sterling Construction will post 1.19 earnings per share for the current year.
In other news, Director Roger A. Cregg bought 6,500 shares of the stock in a transaction on Wednesday, May 13th. The stock was acquired at an average cost of $7.35 per share, for a total transaction of $47,775.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 2.10% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of STRL. Monarch Partners Asset Management LLC lifted its stake in shares of Sterling Construction by 74.1% during the 1st quarter. Monarch Partners Asset Management LLC now owns 614,890 shares of the construction company’s stock worth $5,841,000 after purchasing an additional 261,702 shares during the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Sterling Construction during the 4th quarter worth $3,447,000. Knights of Columbus Asset Advisors LLC purchased a new stake in shares of Sterling Construction during the 4th quarter worth $1,513,000. Wellington Management Group LLP lifted its stake in shares of Sterling Construction by 6.9% during the 1st quarter. Wellington Management Group LLP now owns 1,519,817 shares of the construction company’s stock worth $14,438,000 after purchasing an additional 98,011 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Sterling Construction by 18.5% during the 1st quarter. JPMorgan Chase & Co. now owns 562,804 shares of the construction company’s stock worth $5,347,000 after purchasing an additional 87,909 shares during the last quarter. Hedge funds and other institutional investors own 79.26% 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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