Zacks Investment Research Upgrades Sterling Construction (NASDAQ:STRL) to “Buy”

Sterling Construction (NASDAQ:STRLGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Saturday, Zacks.com reports. The brokerage currently has a $26.00 target price on the construction company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 13.39% from the company’s previous close.

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. “

Separately, StockNews.com initiated coverage on Sterling Construction in a research note on Thursday, March 31st. They set a “buy” rating on the stock.

NASDAQ STRL opened at $22.93 on Friday. The stock’s 50-day moving average price is $26.02 and its two-hundred day moving average price is $26.92. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.11. The company has a market cap of $693.93 million, a PE ratio of 9.48 and a beta of 1.23. Sterling Construction has a 1 year low of $20.17 and a 1 year high of $32.14.

Sterling Construction (NASDAQ:STRLGet Rating) last posted its quarterly earnings data on Monday, May 2nd. The construction company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.23. Sterling Construction had a return on equity of 20.99% and a net margin of 4.25%. During the same quarter in the prior year, the firm posted $0.37 EPS. Research analysts forecast that Sterling Construction will post 2.88 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in STRL. Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of Sterling Construction by 23.4% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 2,097 shares of the construction company’s stock worth $55,000 after buying an additional 397 shares during the last quarter. Harbour Investments Inc. lifted its holdings in shares of Sterling Construction by 238.7% during the fourth quarter. Harbour Investments Inc. now owns 1,016 shares of the construction company’s stock worth $27,000 after buying an additional 716 shares during the last quarter. GSA Capital Partners LLP lifted its holdings in shares of Sterling Construction by 7.6% during the third quarter. GSA Capital Partners LLP now owns 10,341 shares of the construction company’s stock worth $234,000 after buying an additional 731 shares during the last quarter. Delphi Management Inc. MA lifted its holdings in shares of Sterling Construction by 2.1% during the fourth quarter. Delphi Management Inc. MA now owns 36,575 shares of the construction company’s stock worth $962,000 after buying an additional 737 shares during the last quarter. Finally, UBS Group AG raised its stake in shares of Sterling Construction by 7.4% in the third quarter. UBS Group AG now owns 11,491 shares of the construction company’s stock valued at $261,000 after purchasing an additional 789 shares in the last quarter. 79.00% of the stock is currently owned by institutional investors.

About Sterling Construction (Get Rating)

Sterling Construction Company, Inc engages in the transportation, e-infrastructure, and building solutions primarily in the Southern United States, the Northeastern and Mid-Atlantic United States, the Rocky Mountain states, California, and Hawaii. It undertakes infrastructure and rehabilitation projects for highways, roads, bridges, airports, ports, light rail, water, wastewater, and storm drainage systems for the departments of transportation in various states, regional transit authorities, airport authorities, port authorities, water authorities and railroads.

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