Sterling Infrastructure (NASDAQ:STRL) Stock Rated "Overweight" in New Coverage at JPMorgan Chase & Co.

Key Points

• JPMorgan initiated coverage of Sterling Infrastructure with an Overweight rating and a $585 price target, implying about 101% upside from the share price cited in the report.
• Analyst sentiment is broadly positive: seven analysts rate STRL Buy and two Hold, with a consensus “Moderate Buy” rating and an average price target of $709.14.
• Sterling reported quarterly EPS of $7.58, beating the $6.20 consensus estimate, while revenue of $1.56 billion topped forecasts and rose 127% year over year.

JPMorgan Chase & Co. began coverage on shares of Sterling Infrastructure (NASDAQ:STRL - Get Free Report) in a research report issued on Tuesday, Briefing.com reports. The firm set an "overweight" rating and a $585.00 price target on the construction company's stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 101.26% from the stock's current price.

Several other brokerages also recently issued reports on STRL. Zacks Research downgraded shares of Sterling Infrastructure from a "strong-buy" rating to a "hold" rating in a report on Friday, August 7th. Cantor Fitzgerald restated an "overweight" rating and set a $742.00 price objective on shares of Sterling Infrastructure in a research report on Thursday, October 29th. KeyCorp upped their target price on Sterling Infrastructure from $754.00 to $755.00 and gave the stock an "overweight" rating in a report on Thursday, October 15th. DA Davidson cut their price target on Sterling Infrastructure from $700.00 to $680.00 and set a "buy" rating on the stock in a research note on Friday, October 30th. Finally, Weiss Ratings lowered shares of Sterling Infrastructure from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, September 9th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $709.14.

Sterling Infrastructure Trading Up 15.0%

STRL opened at $290.67 on Tuesday. The company has a 50-day simple moving average of $448.41 and a 200 day simple moving average of $548.46. Sterling Infrastructure has a twelve month low of $239.35 and a twelve month high of $1,005.68. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $8.87 billion, a price-to-earnings ratio of 14.64, a P/E/G ratio of 0.53 and a beta of 1.97.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last posted its quarterly earnings results on Wednesday, October 28th. The construction company reported $7.58 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $1.19 billion. The business's quarterly revenue was up 127.0% compared to the same quarter last year. Analysts predict that Sterling Infrastructure will post 20.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Shields & Co. LLC bought a new position in shares of Sterling Infrastructure during the second quarter worth about $29,000. Persistent Asset Partners Ltd acquired a new stake in Sterling Infrastructure during the 2nd quarter valued at approximately $40,000. MassMutual Private Wealth & Trust FSB increased its position in Sterling Infrastructure by 100.0% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 60 shares of the construction company's stock valued at $50,000 after purchasing an additional 30 shares during the period. TD Waterhouse Canada Inc. increased its position in Sterling Infrastructure by 35.7% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 76 shares of the construction company's stock valued at $59,000 after purchasing an additional 20 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Sterling Infrastructure by 43.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 79 shares of the construction company's stock worth $66,000 after purchasing an additional 24 shares during the last quarter. 80.95% of the stock is owned by institutional investors and hedge funds.

Sterling Infrastructure Company Profile

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.

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