Sterling Infrastructure (NASDAQ:STRL) Downgraded to “Hold” Rating by Zacks Research

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

STRL has been the topic of several other research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Sterling Infrastructure in a research note on Monday, December 29th. Wall Street Zen lowered Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 26th. Finally, DA Davidson upped their target price on Sterling Infrastructure from $355.00 to $460.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $460.00.

Sterling Infrastructure Price Performance

Shares of NASDAQ:STRL opened at $311.25 on Monday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.00 and a quick ratio of 1.00. Sterling Infrastructure has a 1-year low of $96.34 and a 1-year high of $419.14. The firm’s 50 day simple moving average is $336.41 and its two-hundred day simple moving average is $310.04. The company has a market capitalization of $9.56 billion, a P/E ratio of 30.68, a P/E/G ratio of 1.92 and a beta of 1.50.

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

Sterling Infrastructure declared that its Board of Directors has initiated a stock repurchase program on Wednesday, November 12th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the construction company to repurchase up to 3.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Sterling Infrastructure

A number of institutional investors have recently bought and sold shares of the business. Bay Rivers Group raised its holdings in shares of Sterling Infrastructure by 4.4% during the fourth quarter. Bay Rivers Group now owns 4,982 shares of the construction company’s stock worth $1,526,000 after purchasing an additional 210 shares during the last quarter. Park Avenue Securities LLC grew its position in Sterling Infrastructure by 42.7% during the 4th quarter. Park Avenue Securities LLC now owns 8,121 shares of the construction company’s stock worth $2,487,000 after purchasing an additional 2,430 shares during the period. GK Wealth Management LLC raised its stake in shares of Sterling Infrastructure by 3.9% during the 4th quarter. GK Wealth Management LLC now owns 1,367 shares of the construction company’s stock valued at $419,000 after buying an additional 51 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of Sterling Infrastructure by 1,307.9% in the 3rd quarter. Allworth Financial LP now owns 7,631 shares of the construction company’s stock valued at $2,592,000 after buying an additional 7,089 shares during the period. Finally, Swiss Life Asset Management Ltd purchased a new stake in shares of Sterling Infrastructure in the third quarter worth about $465,000. 80.95% of the stock is owned by hedge funds and other institutional investors.

Sterling Infrastructure Company Profile

Sterling Infrastructure, Inc (NASDAQ: STRL) is a diversified manufacturer and distributor of essential infrastructure products serving municipal, utility and industrial customers across North America. Through its network of wholly owned subsidiaries, the company designs, engineers and produces a wide range of cast and fabricated solutions tailored to the needs of the waterworks, natural gas, telecommunications, electric, traffic safety and parks & recreation markets.

The company’s product portfolio encompasses ductile iron and composite fittings, valve boxes, manhole frames and covers, water and gas meter sets, street light poles and mounting accessories, traffic sign posts with breakaway systems, bollards and related system components.