Sterling Infrastructure (NASDAQ:STRL) Upgraded by Zacks Research to “Strong-Buy” Rating

Zacks Research upgraded shares of Sterling Infrastructure (NASDAQ:STRL) from a hold rating to a strong-buy rating in a research report report published on Tuesday,Zacks.com reports.

STRL has been the topic of a number of other reports. DA Davidson increased their price objective on Sterling Infrastructure from $355.00 to $460.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Wall Street Zen cut shares of Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 26th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Sterling Infrastructure in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $460.00.

Sterling Infrastructure Stock Down 1.3%

Shares of Sterling Infrastructure stock opened at $323.46 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.26. The company has a market cap of $9.94 billion, a P/E ratio of 31.71, a PEG ratio of 2.17 and a beta of 1.49. The firm’s 50 day moving average price is $354.83 and its 200-day moving average price is $289.37. Sterling Infrastructure has a 52-week low of $96.34 and a 52-week high of $419.14.

Sterling Infrastructure (NASDAQ:STRL) last posted its quarterly earnings data on Monday, June 3rd. The construction company reported $0.64 earnings per share for the quarter. Sterling Infrastructure had a return on equity of 29.81% and a net margin of 14.14%.The firm had revenue of $403.58 million during the quarter. On average, sell-side analysts predict that Sterling Infrastructure will post 5.98 EPS for the current fiscal year.

Sterling Infrastructure announced that its board has initiated a stock repurchase program on Wednesday, November 12th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the construction company to purchase up to 3.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Sterling Infrastructure

Hedge funds have recently bought and sold shares of the business. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Sterling Infrastructure during the 2nd quarter worth approximately $26,000. Root Financial Partners LLC purchased a new position in Sterling Infrastructure during the third quarter valued at $26,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Sterling Infrastructure in the third quarter valued at about $28,000. Fifth Third Bancorp increased its stake in shares of Sterling Infrastructure by 76.1% during the third quarter. Fifth Third Bancorp now owns 81 shares of the construction company’s stock worth $28,000 after purchasing an additional 35 shares in the last quarter. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of Sterling Infrastructure during the second quarter worth about $29,000. Hedge funds and other institutional investors own 80.95% of the company’s stock.

Sterling Infrastructure Company Profile

Sterling Infrastructure, Inc engages in the provision of e-infrastructure, transportation, and building solutions primarily in the United States. It operates through three segments: E-Infrastructure Solutions, Transportation Solutions, and Building Solutions. The E-Infrastructure Solutions segment provides site development services for the blue-chip end users in the e-commerce distribution center, data center, manufacturing, warehousing, and power generation sectors.