Sterling Construction Co. (STRL) Stock Rating Upgraded by Zacks Investment Research
Sterling Construction Co. (NASDAQ:STRL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.
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. “
Separately, DA Davidson set a $9.00 target price on Sterling Construction and gave the stock a “buy” rating in a research report on Monday, September 12th.
Shares of Sterling Construction (NASDAQ:STRL) opened at 8.16 on Wednesday. Sterling Construction has a one year low of $3.69 and a one year high of $8.17. The stock’s market capitalization is $204.02 million. The company’s 50 day moving average price is $7.03 and its 200 day moving average price is $5.67.
Sterling Construction (NASDAQ:STRL) last announced its earnings results on Monday, August 1st. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by $0.01. The company had revenue of $189.60 million for the quarter, compared to analyst estimates of $189.83 million. Sterling Construction had a positive return on equity of 12.00% and a negative net margin of 0.96%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the firm earned ($0.13) earnings per share. On average, equities analysts expect that Sterling Construction will post $0.16 earnings per share for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Boston Partners raised its position in Sterling Construction by 170.2% in the second quarter. Boston Partners now owns 1,315,556 shares of the company’s stock valued at $6,460,000 after buying an additional 828,616 shares during the last quarter. Emerald Acquisition Ltd. acquired a new position in Sterling Construction during the second quarter valued at $2,069,000. FMR LLC raised its position in Sterling Construction by 22.1% in the second quarter. FMR LLC now owns 2,326,584 shares of the company’s stock valued at $11,424,000 after buying an additional 420,384 shares during the last quarter. CWH Capital Management Inc. acquired a new position in Sterling Construction during the second quarter valued at $2,021,000. Finally, Wall Street Associates acquired a new position in Sterling Construction during the second quarter valued at $1,550,000. 66.29% of the stock is currently owned by hedge funds and other institutional investors.
About Sterling Construction
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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