Sterling Infrastructure (NASDAQ:STRL) Shares Gap Up – What’s Next?

Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) gapped up prior to trading on Wednesday. The stock had previously closed at $289.56, but opened at $315.00. Sterling Infrastructure shares last traded at $308.0540, with a volume of 133,732 shares trading hands.

Wall Street Analyst Weigh In

STRL has been the topic of several recent analyst reports. KeyCorp boosted their price target on Sterling Infrastructure from $754.00 to $755.00 and gave the stock an “overweight” rating in a research report on Thursday, October 15th. Weiss Ratings lowered Sterling Infrastructure from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, September 9th. Cantor Fitzgerald restated an “overweight” rating and issued a $742.00 price target on shares of Sterling Infrastructure in a research note on Thursday, October 29th. Stifel Nicolaus reduced their price objective on shares of Sterling Infrastructure from $804.00 to $742.00 and set a “buy” rating for the company in a research report on Thursday, October 8th. Finally, Wall Street Zen upgraded shares of Sterling Infrastructure from a “buy” rating to a “strong-buy” rating in a report on Saturday. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $709.14.

Sterling Infrastructure Stock Performance

The stock’s 50-day simple moving average is $444.80 and its 200-day simple moving average is $548.09. The stock has a market cap of $9.71 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 0.54 and a beta of 1.97. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.06.

Sterling Infrastructure (NASDAQ:STRL) last released its earnings results on Wednesday, October 28th. The construction company reported $7.58 earnings per share for the quarter, beating analysts’ consensus estimates of $6.20 by $1.38. The firm had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.19 billion. Sterling Infrastructure had a return on equity of 45.97% and a net margin of 12.85%. Sterling Infrastructure’s revenue was up 127.0% on a year-over-year basis. Analysts forecast that Sterling Infrastructure, Inc. will post 20.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sterling Infrastructure

Hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp lifted its position in shares of Sterling Infrastructure by 290.7% during the 2nd quarter. State Street Corp now owns 4,253,073 shares of the construction company’s stock worth $3,569,859,000 after buying an additional 3,164,551 shares during the last quarter. BlackRock Inc. bought a new position in Sterling Infrastructure during the second quarter worth $2,713,946,000. Jupiter Topco LLC acquired a new position in Sterling Infrastructure in the second quarter valued at $395,056,000. First Trust Advisors LP boosted its position in Sterling Infrastructure by 27.3% during the first quarter. First Trust Advisors LP now owns 877,990 shares of the construction company’s stock valued at $357,579,000 after acquiring an additional 188,048 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in Sterling Infrastructure by 7.5% during the 1st quarter. Janus Henderson Group PLC now owns 619,145 shares of the construction company’s stock worth $252,207,000 after acquiring an additional 43,259 shares during the period. 80.95% of the stock is currently owned by institutional investors and hedge funds.

Sterling Infrastructure Company Profile

Sterling Infrastructure, Inc. (NASDAQ: STRL) is a U.S.-based construction company that delivers infrastructure and building services through its E-Infrastructure Solutions, Transportation Solutions and Building Solutions segments. E-Infrastructure Solutions provides site development and related services for data centers, manufacturing facilities, distribution centers and other large-scale projects. Transportation Solutions builds and improves public infrastructure, including roads and bridges, while Building Solutions focuses on concrete foundations and other construction services for residential and commercial customers.