Sterling Infrastructure (NASDAQ:STRL) Reaches New 1-Year Low – Here’s What Happened

Sterling Infrastructure, Inc. (NASDAQ:STRL)’s stock price hit a new 52-week low during trading on Thursday. The stock traded as low as $271.00 and last traded at $267.2910, with a volume of 47,871 shares trading hands. The stock had previously closed at $283.66.

Analysts Set New Price Targets

STRL has been the subject of several research reports. Stifel Nicolaus lowered their target price on Sterling Infrastructure from $804.00 to $742.00 and set a “buy” rating for the company in a report on Thursday, October 8th. Wall Street Zen upgraded Sterling Infrastructure from a “buy” rating to a “strong-buy” rating in a report on Saturday. DA Davidson dropped their price target 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. Zacks Research lowered shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 7th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $742.00 price objective on shares of Sterling Infrastructure in a research report on Thursday, October 29th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Sterling Infrastructure presently has an average rating of “Moderate Buy” and an average price target of $729.83.

Sterling Infrastructure Stock Performance

The stock’s 50-day moving average price is $452.01 and its 200 day moving average price is $548.82. The firm has a market cap of $7.71 billion, a P/E ratio of 14.19, a price-to-earnings-growth ratio of 0.63 and a beta of 1.97. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.04 and a quick ratio of 1.04.

Sterling Infrastructure (NASDAQ:STRL) last released its quarterly earnings data on Wednesday, October 28th. The construction company reported $7.58 EPS for the quarter, topping the consensus estimate of $6.20 by $1.38. The firm had revenue of $1.56 billion for 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%. The company’s quarterly revenue was up 127.0% on a year-over-year basis. As a group, equities analysts predict that Sterling Infrastructure, Inc. will post 20.96 EPS for the current year.

Hedge Funds Weigh In On Sterling Infrastructure

Several institutional investors and hedge funds have recently modified their holdings of the business. Channel Wealth LLC purchased a new position in shares of Sterling Infrastructure in the third quarter valued at $294,000. GKV Capital Management Co. Inc. boosted its holdings in shares of Sterling Infrastructure by 465.4% during the 3rd quarter. GKV Capital Management Co. Inc. now owns 5,682 shares of the construction company’s stock worth $2,794,000 after purchasing an additional 4,677 shares during the last quarter. Pier 88 Investment Partners LLC boosted its holdings in Sterling Infrastructure by 40.0% in the third quarter. Pier 88 Investment Partners LLC now owns 700 shares of the construction company’s stock valued at $344,000 after purchasing an additional 200 shares in the last quarter. Maryland State Retirement & Pension System lifted its stake in Sterling Infrastructure by 15.4% in the 3rd quarter. Maryland State Retirement & Pension System now owns 1,861 shares of the construction company’s stock valued at $915,000 after buying an additional 248 shares in the last quarter. Finally, Jacobi Capital Management LLC bought a new position in shares of Sterling Infrastructure during the third quarter worth about $73,000. 80.95% of the stock is currently owned by institutional investors and hedge funds.

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.