DA Davidson Forecasts Strong Price Appreciation for Sterling Infrastructure (NASDAQ:STRL) Stock

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) had its price target increased by stock analysts at DA Davidson from $205.00 to $265.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the construction company's stock. DA Davidson's price target would indicate a potential upside of 21.58% from the stock's current price.

Separately, Wall Street Zen raised Sterling Infrastructure from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd.

Sterling Infrastructure Stock Down 2.7%

NASDAQ:STRL traded down $6.00 on Wednesday, hitting $217.97. 1,089,909 shares of the company's stock traded hands, compared to its average volume of 514,248. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.34. Sterling Infrastructure has a 1 year low of $93.50 and a 1 year high of $233.57. The firm has a 50-day moving average price of $178.59 and a 200-day moving average price of $158.24. The company has a market cap of $6.63 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 1.86 and a beta of 1.37.

Insider Activity at Sterling Infrastructure

In related news, Director Dana C. O'brien sold 10,154 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $206.58, for a total value of $2,097,613.32. Following the completion of the sale, the director now owns 16,498 shares of the company's stock, valued at approximately $3,408,156.84. The trade was a 38.10% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 3.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sterling Infrastructure

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Invst LLC lifted its holdings in Sterling Infrastructure by 13.3% in the 1st quarter. Invst LLC now owns 8,206 shares of the construction company's stock worth $929,000 after purchasing an additional 964 shares during the last quarter. Rhumbline Advisers lifted its holdings in Sterling Infrastructure by 2.7% in the 1st quarter. Rhumbline Advisers now owns 47,770 shares of the construction company's stock worth $5,408,000 after purchasing an additional 1,270 shares during the last quarter. Strs Ohio acquired a new stake in Sterling Infrastructure in the 1st quarter worth approximately $962,000. Intech Investment Management LLC lifted its holdings in Sterling Infrastructure by 47.4% in the 1st quarter. Intech Investment Management LLC now owns 25,736 shares of the construction company's stock worth $2,914,000 after purchasing an additional 8,281 shares during the last quarter. Finally, Focus Partners Wealth lifted its holdings in Sterling Infrastructure by 13.7% in the 1st quarter. Focus Partners Wealth now owns 2,313 shares of the construction company's stock worth $262,000 after purchasing an additional 279 shares during the last quarter. 80.95% of the stock is currently owned by institutional investors and hedge funds.

About Sterling Infrastructure

Sterling Infrastructure, Inc engages in the provision of e-infrastructure, transportation, and building solutions primarily in the United States. It operates through three segments: E-Infrastructure Solutions, Transportation Solutions, and Building Solutions. The E-Infrastructure Solutions segment provides site development services for the blue-chip end users in the e-commerce distribution center, data center, manufacturing, warehousing, and power generation sectors.