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

Zacks Investment Research upgraded shares of Sterling Construction (NASDAQ:STRL) from a sell rating to a hold rating in a report released on Tuesday morning, 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 analysts have also commented on the company. DA Davidson dropped their price target on Sterling Construction from $20.00 to $15.00 and set a buy rating for the company in a research note on Friday, April 3rd. ValuEngine lowered Sterling Construction from a hold rating to a sell rating in a research note on Thursday, April 2nd. Finally, BidaskClub raised Sterling Construction from a sell rating to a hold rating in a research note on Tuesday, June 9th.

NASDAQ:STRL opened at $10.47 on Tuesday. The firm has a market cap of $292.95 million, a PE ratio of 7.03 and a beta of 1.21. Sterling Construction has a fifty-two week low of $6.72 and a fifty-two week high of $17.49. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.30 and a current ratio of 1.30. The business has a 50 day moving average price of $9.48 and a 200-day moving average price of $11.40.

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). The company had revenue of $296.69 million for the quarter, compared to analysts’ expectations of $283.00 million. Sterling Construction had a net margin of 3.44% and a return on equity of 13.79%. Research analysts predict that Sterling Construction will post 1.19 EPS for the current year.

In other news, Director Roger A. Cregg acquired 6,500 shares of the stock in a transaction on Wednesday, May 13th. The stock was acquired at an average price of $7.35 per share, with a total value of $47,775.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.10% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Advisors Asset Management Inc. increased its holdings in shares of Sterling Construction by 1,100.5% during the fourth quarter. Advisors Asset Management Inc. now owns 16,315 shares of the construction company’s stock valued at $230,000 after acquiring an additional 14,956 shares in the last quarter. Citigroup Inc. increased its holdings in shares of Sterling Construction by 177.3% during the first quarter. Citigroup Inc. now owns 14,772 shares of the construction company’s stock valued at $140,000 after acquiring an additional 9,444 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Sterling Construction by 6.9% during the first quarter. Wellington Management Group LLP now owns 1,519,817 shares of the construction company’s stock valued at $14,438,000 after acquiring an additional 98,011 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of Sterling Construction by 39.9% during the first quarter. BNP Paribas Arbitrage SA now owns 8,011 shares of the construction company’s stock valued at $76,000 after acquiring an additional 2,286 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in shares of Sterling Construction by 16.0% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 255,563 shares of the construction company’s stock valued at $3,598,000 after acquiring an additional 35,312 shares in the last quarter. 79.26% of the stock is owned by institutional investors and hedge funds.

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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