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Sterling Construction (NASDAQ:STRL) Raised to Hold at Zacks Investment Research

Posted on Tuesday, June 30th, 2020 by MarketBeat

Sterling Construction (NASDAQ:STRL) was upgraded by Zacks Investment Research from a "sell" rating to a "hold" rating in a research note issued on Tuesday, Zacks.com reports.

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. "

A number of other equities analysts have also recently commented on the stock. DA Davidson cut their target price on shares of Sterling Construction from $20.00 to $15.00 and set a "buy" rating on the stock in a report on Friday, April 3rd. BidaskClub raised shares of Sterling Construction from a "sell" rating to a "hold" rating in a report on Tuesday, June 9th. Finally, ValuEngine cut shares of Sterling Construction from a "hold" rating to a "sell" rating in a report on Thursday, April 2nd.

STRL stock traded up $0.22 during midday trading on Tuesday, reaching $10.47. 4,592 shares of the company were exchanged, compared to its average volume of 267,287. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.30 and a current ratio of 1.30. Sterling Construction has a 1-year low of $6.72 and a 1-year high of $17.49. The stock's 50-day simple moving average is $9.47 and its 200 day simple moving average is $11.43. The company has a market cap of $292.95 million, a price-to-earnings ratio of 7.03 and a beta of 1.21.

Sterling Construction (NASDAQ:STRL) last released its quarterly earnings data on Monday, May 4th. The construction company reported $0.12 earnings per share for the quarter, missing analysts' consensus estimates of $0.22 by ($0.10). Sterling Construction had a return on equity of 13.79% and a net margin of 3.44%. The company had revenue of $296.69 million for the quarter, compared to analyst estimates of $283.00 million. On average, research analysts anticipate that Sterling Construction will post 1.19 earnings per share for the current year.

In other Sterling Construction news, Director Roger A. Cregg bought 6,500 shares of the business's stock in a transaction dated Wednesday, May 13th. The shares were acquired at an average cost of $7.35 per share, with a total value of $47,775.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.10% of the company's stock.

A number of institutional investors and hedge funds have recently made changes to their positions in STRL. Great West Life Assurance Co. Can acquired a new position in Sterling Construction in the 4th quarter valued at $25,000. BNP Paribas Arbitrage SA boosted its position in shares of Sterling Construction by 39.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 8,011 shares of the construction company's stock worth $76,000 after purchasing an additional 2,286 shares in the last quarter. Hancock Whitney Corp purchased a new stake in shares of Sterling Construction during the 1st quarter worth $113,000. Squarepoint Ops LLC purchased a new stake in shares of Sterling Construction during the 1st quarter worth $114,000. Finally, BKD Wealth Advisors LLC purchased a new stake in shares of Sterling Construction during the 1st quarter worth $117,000. 79.26% of the stock is currently owned by institutional investors.

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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