BidaskClub Downgrades Sterling Construction (NASDAQ:STRL) to Hold

Sterling Construction (NASDAQ:STRL) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Tuesday, BidAskClub reports.

A number of other equities research analysts have also recently issued reports on STRL. TheStreet upgraded shares of Sterling Construction from a “c+” rating to a “b-” rating in a report on Thursday, September 3rd. Zacks Investment Research upgraded shares of Sterling Construction from a “hold” rating to a “strong-buy” rating and set a $16.00 price objective for the company in a report on Saturday, August 8th. One analyst has rated the stock with a sell rating, one has given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $15.50.

Sterling Construction stock opened at $13.42 on Tuesday. The company’s fifty day simple moving average is $13.59 and its 200-day simple moving average is $10.61. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.56. Sterling Construction has a 12 month low of $6.72 and a 12 month high of $17.49. The stock has a market cap of $376.67 million, a P/E ratio of 7.25 and a beta of 1.36.

Sterling Construction (NASDAQ:STRL) last posted its quarterly earnings results on Monday, August 3rd. The construction company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.31 by $0.34. Sterling Construction had a net margin of 3.86% and a return on equity of 17.58%. The business had revenue of $400.04 million for the quarter, compared to analysts’ expectations of $343.70 million. On average, equities research analysts expect that Sterling Construction will post 1.5 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of the stock. Bank of America Corp DE boosted its holdings in Sterling Construction by 3.1% in the second quarter. Bank of America Corp DE now owns 32,573 shares of the construction company’s stock worth $341,000 after purchasing an additional 970 shares in the last quarter. Advisor Group Holdings Inc. lifted its position in Sterling Construction by 4.7% during the 2nd quarter. Advisor Group Holdings Inc. now owns 28,331 shares of the construction company’s stock worth $296,000 after acquiring an additional 1,266 shares during the last quarter. UBS Group AG lifted its position in Sterling Construction by 8.7% during the 2nd quarter. UBS Group AG now owns 16,190 shares of the construction company’s stock worth $170,000 after acquiring an additional 1,302 shares during the last quarter. American International Group Inc. lifted its position in Sterling Construction by 9.4% during the 2nd quarter. American International Group Inc. now owns 16,910 shares of the construction company’s stock worth $177,000 after acquiring an additional 1,454 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its position in 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 acquiring an additional 2,286 shares during the last quarter. Hedge funds and other institutional investors own 80.55% of the company’s stock.

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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