ValuEngine cut shares of Sterling Construction (NASDAQ:STRL) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.
Several other equities research analysts also recently issued reports on STRL. BidaskClub downgraded Sterling Construction from a hold rating to a sell rating in a research report on Wednesday, January 10th. TheStreet downgraded Sterling Construction from a b- rating to a c rating in a research report on Monday, January 22nd. Finally, Zacks Investment Research downgraded Sterling Construction from a strong-buy rating to a hold rating in a research report on Friday, January 5th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. Sterling Construction has a consensus rating of Hold and a consensus target price of $17.00.
Sterling Construction (NASDAQ STRL) traded up $0.51 during trading hours on Wednesday, hitting $13.00. The company’s stock had a trading volume of 211,117 shares, compared to its average volume of 220,171. The stock has a market capitalization of $351.66, a P/E ratio of 31.71, a P/E/G ratio of 1.31 and a beta of 0.34. Sterling Construction has a 12-month low of $8.54 and a 12-month high of $18.90. The company has a current ratio of 1.53, a quick ratio of 1.42 and a debt-to-equity ratio of 0.59.
In related news, Director Maarten D. Hemsley sold 29,800 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $17.32, for a total value of $516,136.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Con L. Wadsworth acquired 8,000 shares of the stock in a transaction that occurred on Thursday, March 8th. The stock was acquired at an average price of $12.43 per share, for a total transaction of $99,440.00. Following the transaction, the chief operating officer now directly owns 68,670 shares of the company’s stock, valued at approximately $853,568.10. The disclosure for this purchase can be found here. Company insiders own 5.20% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. MetLife Investment Advisors LLC purchased a new stake in shares of Sterling Construction in the fourth quarter worth $216,000. Metropolitan Life Insurance Co. NY purchased a new stake in shares of Sterling Construction in the fourth quarter worth $145,000. Millennium Management LLC purchased a new stake in shares of Sterling Construction in the fourth quarter worth $14,188,000. Two Sigma Investments LP raised its position in shares of Sterling Construction by 311.5% in the fourth quarter. Two Sigma Investments LP now owns 104,319 shares of the construction company’s stock worth $1,698,000 after buying an additional 78,969 shares in the last quarter. Finally, Two Sigma Advisers LP raised its position in shares of Sterling Construction by 5.2% in the fourth quarter. Two Sigma Advisers LP now owns 137,882 shares of the construction company’s stock worth $2,245,000 after buying an additional 6,800 shares in the last quarter. Institutional investors own 74.87% of the company’s stock.
Sterling Construction Company Profile
Sterling Construction Company, Inc is a heavy civil construction company engaged in the building and reconstruction of transportation and water infrastructure projects in Texas, Utah, Nevada, Arizona, California, Hawaii and other states. The Company’s transportation infrastructure projects include highways, roads, bridges, airfields, ports and light rail.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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