Sterling Construction (NASDAQ:STRL) Upgraded by ValuEngine to “Hold”

ValuEngine upgraded shares of Sterling Construction (NASDAQ:STRL) from a sell rating to a hold rating in a research note published on Wednesday, September 4th, ValuEngine reports.

STRL has been the topic of a number of other reports. BidaskClub cut Sterling Construction from a buy rating to a hold rating in a report on Saturday, July 13th. Zacks Investment Research cut Sterling Construction from a hold rating to a sell rating in a report on Friday, August 9th.

Shares of Sterling Construction stock traded up $0.06 during trading hours on Wednesday, reaching $12.55. 670 shares of the stock traded hands, compared to its average volume of 135,963. Sterling Construction has a one year low of $9.71 and a one year high of $15.75. The company has a quick ratio of 1.54, a current ratio of 1.56 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $324.75 million, a price-to-earnings ratio of 13.61 and a beta of 1.18. The company has a 50 day moving average price of $11.53 and a 200 day moving average price of $12.71.

Sterling Construction (NASDAQ:STRL) last posted its quarterly earnings data on Monday, August 5th. The construction company reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.03). Sterling Construction had a net margin of 2.34% and a return on equity of 14.15%. The company had revenue of $264.09 million for the quarter, compared to analysts’ expectations of $280.00 million. During the same period in the previous year, the firm earned $0.30 earnings per share. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. Sell-side analysts anticipate that Sterling Construction will post 1.04 earnings per share for the current year.

In other Sterling Construction news, CEO Joseph A. Cutillo acquired 35,500 shares of the business’s stock in a transaction on Friday, August 16th. The shares were bought at an average price of $10.92 per share, with a total value of $387,660.00. Following the transaction, the chief executive officer now directly owns 264,527 shares of the company’s stock, valued at approximately $2,888,634.84. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joseph A. Cutillo acquired 48,400 shares of the business’s stock in a transaction on Monday, August 19th. The stock was acquired at an average cost of $11.01 per share, for a total transaction of $532,884.00. Following the transaction, the chief executive officer now directly owns 264,527 shares in the company, valued at $2,912,442.27. The disclosure for this purchase can be found here. 2.00% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of STRL. Quantamental Technologies LLC purchased a new stake in shares of Sterling Construction during the 2nd quarter worth $25,000. Bank of Montreal Can purchased a new stake in Sterling Construction in the second quarter valued at about $30,000. BNP Paribas Arbitrage SA raised its stake in Sterling Construction by 728.5% in the first quarter. BNP Paribas Arbitrage SA now owns 5,559 shares of the construction company’s stock valued at $70,000 after buying an additional 4,888 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in shares of Sterling Construction by 26.0% in the second quarter. Meeder Asset Management Inc. now owns 5,924 shares of the construction company’s stock valued at $80,000 after purchasing an additional 1,223 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of Sterling Construction in the first quarter valued at about $109,000. Hedge funds and other institutional investors own 83.69% 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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