Sterling Construction (NASDAQ:STRL) Trading Down 3.6%


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Sterling Construction Company, Inc. (NASDAQ:STRL)’s stock price fell 3.6% on Thursday . The company traded as low as $20.96 and last traded at $21.09. 1,896 shares were traded during mid-day trading, a decline of 99% from the average session volume of 350,150 shares. The stock had previously closed at $21.88.

Separately, Zacks Investment Research raised shares of Sterling Construction from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Thursday.

The firm has a market capitalization of $602.01 million, a price-to-earnings ratio of 10.47 and a beta of 1.43. The firm’s 50 day moving average is $21.88 and its 200 day moving average is $18.84. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.33.

Sterling Construction (NASDAQ:STRL) last released its earnings results on Wednesday, March 3rd. The construction company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.03). Sterling Construction had a net margin of 4.12% and a return on equity of 18.54%. The business had revenue of $347.23 million for the quarter, compared to analyst estimates of $341.30 million. On average, sell-side analysts predict that Sterling Construction Company, Inc. will post 1.55 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Sterling Construction during the fourth quarter valued at approximately $1,608,000. Virtu Financial LLC acquired a new stake in Sterling Construction during the fourth quarter valued at approximately $220,000. Jane Street Group LLC purchased a new stake in shares of Sterling Construction in the 4th quarter valued at approximately $267,000. Squarepoint Ops LLC lifted its position in shares of Sterling Construction by 31.5% in the 4th quarter. Squarepoint Ops LLC now owns 23,675 shares of the construction company’s stock valued at $441,000 after acquiring an additional 5,676 shares in the last quarter. Finally, Morgan Stanley lifted its position in shares of Sterling Construction by 4,880.4% in the 4th quarter. Morgan Stanley now owns 516,612 shares of the construction company’s stock valued at $9,614,000 after acquiring an additional 506,239 shares in the last quarter. 81.80% of the stock is owned by institutional investors and hedge funds.

Sterling Construction Company Profile (NASDAQ:STRL)

Sterling Construction Company, Inc, a construction company, engages in the heavy civil, specialty services, and residential construction activities primarily in the southern United States, the Rocky Mountain states, California, and Hawaii. The company undertakes various heavy civil construction projects, including highways, roads, bridges, airfields, ports, light rail, water, wastewater and storm drainage systems for the departments of transportation in various states, regional transit authorities, airport authorities, port authorities, water authorities, and railroads.

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