Zacks Investment Research cut shares of Sterling Construction (NASDAQ:STRL) from a hold rating to a sell rating in a research report report published on Saturday.
According to Zacks, “Sterling Construction Company, Inc. is a holding company which has historically operated as a wholesale distributor to the automotive aftermarket and construction through two subsidiaries, Steel City Products and Dowling’s Fleet Service. “
Other equities analysts have also issued research reports about the company. TheStreet upgraded Sterling Construction from a c+ rating to a b- rating in a research note on Tuesday, December 12th. ValuEngine upgraded Sterling Construction from a hold rating to a buy rating in a research note on Thursday, March 1st. Finally, BidaskClub lowered Sterling Construction from a strong-buy rating to a buy rating in a research note on Tuesday, December 5th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $17.00.
Sterling Construction (NASDAQ:STRL) last released its quarterly earnings data on Monday, March 5th. The construction company reported $0.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.02). The company had revenue of $253.90 million for the quarter, compared to analysts’ expectations of $221.53 million. Sterling Construction had a net margin of 1.21% and a return on equity of 10.76%. The business’s quarterly revenue was up 50.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.25) EPS. equities research analysts expect that Sterling Construction will post 0.91 earnings per share for the current fiscal year.
In other Sterling Construction news, Director Maarten D. Hemsley sold 29,800 shares of Sterling Construction stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $17.32, for a total transaction of $516,136.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Con L. Wadsworth bought 8,000 shares of the company’s stock in a transaction dated Thursday, March 8th. The shares were acquired at an average price of $12.43 per share, for a total transaction of $99,440.00. Following the completion of the transaction, the chief operating officer now directly owns 68,670 shares in the company, valued at $853,568.10. The disclosure for this purchase can be found here. Company insiders own 5.20% of the company’s stock.
Several large investors have recently bought and sold shares of STRL. Millennium Management LLC acquired a new stake in shares of Sterling Construction during the 4th quarter valued at about $14,188,000. Northpointe Capital LLC acquired a new stake in shares of Sterling Construction during the 4th quarter valued at about $6,149,000. State Street Corp grew its position in shares of Sterling Construction by 2,766.2% during the 2nd quarter. State Street Corp now owns 340,078 shares of the construction company’s stock valued at $4,446,000 after acquiring an additional 328,213 shares during the period. Renaissance Technologies LLC grew its position in shares of Sterling Construction by 17.3% during the 4th quarter. Renaissance Technologies LLC now owns 1,924,700 shares of the construction company’s stock valued at $31,334,000 after acquiring an additional 283,200 shares during the period. Finally, First Trust Advisors LP acquired a new stake in shares of Sterling Construction during the 3rd quarter valued at about $3,608,000. Hedge funds and other institutional investors own 74.87% of the company’s stock.
About Sterling Construction
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Sterling Construction Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sterling Construction and related companies with MarketBeat.com's FREE daily email newsletter.