Zacks Investment Research Lowers Sterling Construction (STRL) to Sell

Sterling Construction (NASDAQ:STRL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday.

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. “

Several other research analysts have also commented on STRL. BidaskClub upgraded Sterling Construction from a “sell” rating to a “hold” rating in a research report on Saturday, July 14th. ValuEngine upgraded Sterling Construction from a “hold” rating to a “buy” rating in a research report on Friday, August 3rd. Finally, Canaccord Genuity restated a “buy” rating and set a $20.00 price target on shares of Sterling Construction in a research report on Friday, August 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $17.50.

STRL stock opened at $13.12 on Friday. The company has a quick ratio of 1.64, a current ratio of 1.65 and a debt-to-equity ratio of 0.54. The firm has a market cap of $329.10 million, a price-to-earnings ratio of 23.85, a price-to-earnings-growth ratio of 1.18 and a beta of 0.70. Sterling Construction has a 52-week low of $10.74 and a 52-week high of $18.90.

Sterling Construction (NASDAQ:STRL) last posted its earnings results on Tuesday, November 6th. The construction company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.02). The business had revenue of $291.30 million for the quarter, compared to analyst estimates of $301.90 million. Sterling Construction had a return on equity of 14.89% and a net margin of 2.19%. Sterling Construction’s revenue was down 4.2% compared to the same quarter last year. During the same period last year, the business earned $0.26 EPS. As a group, equities research analysts anticipate that Sterling Construction will post 0.94 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC purchased a new position in shares of Sterling Construction during the third quarter worth $110,000. Raymond James Financial Services Advisors Inc. purchased a new position in Sterling Construction in the second quarter valued at $135,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Sterling Construction in the third quarter valued at $150,000. Capital Fund Management S.A. boosted its holdings in Sterling Construction by 28.4% in the second quarter. Capital Fund Management S.A. now owns 22,600 shares of the construction company’s stock valued at $294,000 after purchasing an additional 5,000 shares during the period. Finally, Global X Management Co LLC boosted its holdings in Sterling Construction by 17.1% in the second quarter. Global X Management Co LLC now owns 23,795 shares of the construction company’s stock valued at $310,000 after purchasing an additional 3,476 shares during the period. Institutional investors and hedge funds own 76.05% of the company’s stock.

Sterling Construction Company Profile

Sterling Construction Company, Inc, together with its subsidiaries, operates as a heavy civil and residential construction company in Arizona, California, Colorado, Hawaii, Nevada, Texas, Utah, and other states in the United States. The company's Heavy Civil Construction segment undertakes heavy civil construction projects, including highways, roads, bridges, airfields, ports, light rail, water, wastewater and storm drainage systems, foundations for multi-family homes, commercial concrete projects, and parking structures.

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