Sterling Infrastructure (NASDAQ:STRL) Stock Falls 14.4% – Time to Sell?

Sterling Infrastructure, Inc. (NASDAQ:STRL)’s share price traded down 14.4% during trading on Wednesday. The stock traded as low as $300.15 and last traded at $308.9690. 411,300 shares were traded during mid-day trading, a decline of 36% from the average session volume of 647,001 shares. The stock had previously closed at $361.14.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $742.00 target price on shares of Sterling Infrastructure in a research report on Thursday, October 29th. Zacks Research downgraded Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 7th. Weiss Ratings lowered Sterling Infrastructure from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, September 9th. Stifel Nicolaus lowered their price objective on Sterling Infrastructure from $804.00 to $742.00 and set a “buy” rating on the stock in a research note on Thursday, October 8th. Finally, DA Davidson cut their target price on shares of Sterling Infrastructure from $700.00 to $680.00 and set a “buy” rating for the company in a research report on Friday, October 30th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Sterling Infrastructure currently has an average rating of “Moderate Buy” and an average target price of $729.83.

Sterling Infrastructure Price Performance

The firm has a market cap of $8.58 billion, a P/E ratio of 15.85, a PEG ratio of 0.63 and a beta of 1.97. The business’s fifty day simple moving average is $466.20 and its 200-day simple moving average is $550.10. 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 posted its quarterly earnings results on Wednesday, October 28th. The construction company reported $7.58 EPS for the quarter, topping analysts’ consensus estimates of $6.20 by $1.38. The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. As a group, analysts forecast that Sterling Infrastructure, Inc. will post 20.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. State Street Corp grew its stake in Sterling Infrastructure by 290.7% in the second quarter. State Street Corp now owns 4,253,073 shares of the construction company’s stock worth $3,569,859,000 after purchasing an additional 3,164,551 shares during the period. BlackRock Inc. bought a new stake in shares of Sterling Infrastructure during the 2nd quarter valued at $2,713,946,000. Jupiter Topco LLC bought a new stake in shares of Sterling Infrastructure during the 2nd quarter valued at $395,056,000. First Trust Advisors LP increased its stake in shares of Sterling Infrastructure by 27.3% in the 1st quarter. First Trust Advisors LP now owns 877,990 shares of the construction company’s stock worth $357,579,000 after acquiring an additional 188,048 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position 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 valued at $252,207,000 after acquiring an additional 43,259 shares during the period. Institutional investors own 80.95% of the company’s stock.

Sterling Infrastructure Company Profile

Sterling Infrastructure, Inc is a U.S.-based infrastructure services company that provides construction and specialty contracting solutions through three principal business segments: E-Infrastructure Solutions, Transportation Solutions and Building Solutions.

Its E-Infrastructure Solutions segment supports the development of data centers, advanced manufacturing facilities, energy and power infrastructure, and other large-scale industrial projects. Transportation Solutions provides construction and rehabilitation services for highways, roads, bridges, airports, rail and transit systems, and related public infrastructure.