Sterling Infrastructure (NASDAQ:STRL) Sets New 12-Month Low - Time to Sell?

Key Points

• Sterling Infrastructure shares hit a new 52-week low, trading as low as $271 and last quoted at $267.29, down from the prior close of $283.66.
• Despite the sell-off, analysts have a “Moderate Buy” consensus: six rate the stock Buy and two Hold, with an average price target of $729.83.
• The company reported quarterly EPS of $7.58, beating estimates of $6.20, while revenue reached $1.56 billion and rose 127% year over year.

Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Get Free Report) reached a new 52-week low during trading on Thursday. The company traded as low as $271.00 and last traded at $267.2910, with a volume of 47,871 shares. The stock had previously closed at $283.66.

Analysts Set New Price Targets

A number of research firms have recently commented on STRL. KeyCorp raised their price objective on Sterling Infrastructure from $754.00 to $755.00 and gave the stock an "overweight" rating in a report on Thursday, October 15th. Wall Street Zen cut Sterling Infrastructure from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 5th. DA Davidson lowered their target price on Sterling Infrastructure from $700.00 to $680.00 and set a "buy" rating for the company in a research note on Friday, October 30th. Stifel Nicolaus dropped their target price on shares of Sterling Infrastructure from $804.00 to $742.00 and set a "buy" rating for the company in a research note on Thursday, October 8th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $742.00 target price on shares of Sterling Infrastructure in a report on Thursday, October 29th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Sterling Infrastructure presently has an average rating of "Moderate Buy" and an average price target of $729.83.

Sterling Infrastructure Trading Down 11.1%

The firm has a fifty day moving average of $462.14 and a two-hundred day moving average of $549.84. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.06. The company has a market cap of $7.69 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 0.67 and a beta of 1.97.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last announced its quarterly earnings results on Wednesday, October 28th. The construction company reported $7.58 EPS for the quarter, beating analysts' consensus estimates of $6.20 by $1.38. Sterling Infrastructure had a net margin of 12.85% and a return on equity of 45.97%. The company had revenue of $1.56 billion for the quarter, compared to analysts' expectations of $1.19 billion. The firm's revenue was up 127.0% compared to the same quarter last year. As a group, sell-side analysts predict that Sterling Infrastructure, Inc. will post 20.91 EPS for the current year.

Institutional Investors Weigh In On Sterling Infrastructure

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in Sterling Infrastructure in the 2nd quarter valued at about $2,713,946,000. State Street Corp boosted its stake in Sterling Infrastructure by 290.7% during the 2nd quarter. State Street Corp now owns 4,253,073 shares of the construction company's stock valued at $3,569,859,000 after purchasing an additional 3,164,551 shares in the last quarter. Jupiter Topco LLC acquired a new position in shares of Sterling Infrastructure during the 2nd quarter valued at $395,056,000. First Trust Advisors LP raised its stake in shares of Sterling Infrastructure by 27.3% in the 1st quarter. First Trust Advisors LP now owns 877,990 shares of the construction company's stock worth $357,579,000 after buying an additional 188,048 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Sterling Infrastructure in the second quarter valued at $144,725,000. 80.95% of the stock is currently owned by hedge funds and other institutional investors.

About Sterling Infrastructure

Sterling Infrastructure, Inc is a U.S.-based infrastructure services company that provides construction and specialty contracting solutions through three principal business segments: E-Infrastructure Solutions, Transportation Solutions and Building Solutions.

Its E-Infrastructure Solutions segment supports the development of data centers, advanced manufacturing facilities, energy and power infrastructure, and other large-scale industrial projects. Transportation Solutions provides construction and rehabilitation services for highways, roads, bridges, airports, rail and transit systems, and related public infrastructure.

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