Zacks Investment Research downgraded shares of Sterling Construction (NASDAQ:STRL) from a hold rating to a sell rating in a research report released on Saturday morning.
According to Zacks, “Sterling Construction Company, Inc. is a holding company which has historically operated as a wholesale distributor to the automotive aftermarket and construction through two subsidiaries, Steel City Products and Dowling’s Fleet Service. “
Several other analysts also recently weighed in on the company. BidaskClub upgraded Sterling Construction from a strong sell rating to a sell rating in a research report on Saturday. ValuEngine downgraded Sterling Construction from a buy rating to a hold rating in a research report on Wednesday. Finally, TheStreet downgraded Sterling Construction from a b- rating to a c rating in a research report on Monday, January 22nd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. Sterling Construction currently has a consensus rating of Hold and an average price target of $17.00.
Sterling Construction (NASDAQ:STRL) last announced its quarterly earnings data on Monday, March 5th. The construction company reported $0.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by ($0.02). Sterling Construction had a net margin of 1.21% and a return on equity of 10.76%. The company had revenue of $253.90 million during the quarter, compared to the consensus estimate of $221.53 million. During the same quarter in the previous year, the firm posted ($0.25) EPS. The business’s revenue for the quarter was up 50.9% compared to the same quarter last year. equities analysts forecast that Sterling Construction will post 0.91 EPS for the current year.
In other Sterling Construction news, COO Con L. Wadsworth bought 8,000 shares of Sterling Construction stock in a transaction dated Thursday, March 8th. The shares were purchased at an average cost of $12.43 per share, with a total value of $99,440.00. Following the completion of the purchase, the chief operating officer now owns 68,670 shares of the company’s stock, valued at $853,568.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Maarten D. Hemsley sold 29,800 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $17.32, for a total value of $516,136.00. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC increased its stake in shares of Sterling Construction by 17.3% during the fourth quarter. Renaissance Technologies LLC now owns 1,924,700 shares of the construction company’s stock valued at $31,334,000 after buying an additional 283,200 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Sterling Construction by 4.8% during the third quarter. Dimensional Fund Advisors LP now owns 1,553,682 shares of the construction company’s stock valued at $23,663,000 after buying an additional 70,860 shares during the period. Vanguard Group Inc. increased its stake in shares of Sterling Construction by 7.1% during the second quarter. Vanguard Group Inc. now owns 962,759 shares of the construction company’s stock valued at $12,583,000 after buying an additional 64,041 shares during the period. Millennium Management LLC purchased a new position in shares of Sterling Construction during the fourth quarter valued at approximately $14,188,000. Finally, Driehaus Capital Management LLC increased its stake in shares of Sterling Construction by 52.1% during the fourth quarter. Driehaus Capital Management LLC now owns 399,446 shares of the construction company’s stock valued at $6,503,000 after buying an additional 136,827 shares during the period. 74.87% of the stock is currently owned by hedge funds and other institutional investors.
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Sterling Construction Company Profile
Sterling Construction Company, Inc is a heavy civil construction company engaged in the building and reconstruction of transportation and water infrastructure projects in Texas, Utah, Nevada, Arizona, California, Hawaii and other states. The Company’s transportation infrastructure projects include highways, roads, bridges, airfields, ports and light rail.
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