DA Davidson Raises Sterling Construction (NASDAQ:STRL) Price Target to $25.00

Sterling Construction (NASDAQ:STRL) had its price target lifted by DA Davidson from $18.00 to $25.00 in a report published on Wednesday, BenzingaRatingsTable reports. DA Davidson currently has a buy rating on the construction company’s stock.

Several other brokerages have also recently weighed in on STRL. ValuEngine cut Sterling Construction from a sell rating to a strong sell rating in a research report on Tuesday. Zacks Investment Research cut Sterling Construction from a hold rating to a sell rating in a research report on Friday, August 9th. Finally, BidaskClub upgraded Sterling Construction from a buy rating to a strong-buy rating in a research report on Wednesday, September 25th.

STRL stock traded up $0.22 during trading on Wednesday, hitting $16.02. 306,780 shares of the company traded hands, compared to its average volume of 174,181. The stock’s 50-day simple moving average is $12.55 and its 200 day simple moving average is $12.65. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.56 and a quick ratio of 1.54. The company has a market cap of $394.62 million, a PE ratio of 17.23 and a beta of 1.17. Sterling Construction has a 1 year low of $9.71 and a 1 year high of $16.60.

Sterling Construction (NASDAQ:STRL) last announced its quarterly earnings results on Monday, August 5th. The construction company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.03). The company had revenue of $264.09 million for the quarter, compared to analysts’ expectations of $280.00 million. Sterling Construction had a net margin of 2.34% and a return on equity of 14.15%. The firm’s revenue was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.30 earnings per share. Research analysts expect 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 dated Friday, August 16th. The stock was acquired at an average cost of $10.92 per share, for a total transaction of $387,660.00. Following the completion of the transaction, the chief executive officer now directly owns 264,527 shares of the company’s stock, valued at $2,888,634.84. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Joseph A. Cutillo acquired 48,400 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was acquired at an average price of $11.01 per share, with a total value of $532,884.00. Following the completion of the transaction, the chief executive officer now directly owns 264,527 shares of the company’s stock, valued at $2,912,442.27. The disclosure for this purchase can be found here. 2.00% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the company. Meeder Asset Management Inc. increased its position 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 buying an additional 1,223 shares in the last quarter. WINTON GROUP Ltd boosted its stake in shares of Sterling Construction by 13.1% in the second quarter. WINTON GROUP Ltd now owns 13,064 shares of the construction company’s stock worth $175,000 after acquiring an additional 1,517 shares during the last quarter. Quantamental Technologies LLC acquired a new stake in shares of Sterling Construction in the second quarter worth approximately $25,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Sterling Construction by 9.9% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 22,125 shares of the construction company’s stock worth $297,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Bank of Montreal Can acquired a new stake in shares of Sterling Construction in the second quarter worth approximately $30,000. Institutional investors and hedge funds own 83.74% of the company’s stock.

About Sterling Construction

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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