Shares of Granite Construction Incorporated (NYSE:GVA – Get Free Report) have been assigned an average rating of “Hold” from the six research firms that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $158.50.
GVA has been the subject of a number of recent research reports. Zacks Research upgraded Granite Construction to a “hold” rating in a research report on Friday, May 29th. Oppenheimer increased their price target on shares of Granite Construction from $170.00 to $180.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Stephens began coverage on shares of Granite Construction in a research note on Friday, June 26th. They set an “overweight” rating and a $180.00 price target on the stock. The Goldman Sachs Group lowered their price objective on shares of Granite Construction from $139.00 to $119.00 and set a “sell” rating for the company in a report on Friday, July 31st. Finally, Wall Street Zen cut shares of Granite Construction from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th.
Check Out Our Latest Report on GVA
Insider Buying and Selling at Granite Construction
Institutional Trading of Granite Construction
A number of institutional investors have recently made changes to their positions in GVA. Hill City Capital LP bought a new stake in Granite Construction in the 2nd quarter worth $175,508,000. Leuthold Group LLC boosted its holdings in shares of Granite Construction by 1,591.8% during the fourth quarter. Leuthold Group LLC now owns 45,223 shares of the construction company’s stock worth $5,216,000 after purchasing an additional 42,550 shares during the period. Empowered Funds LLC purchased a new stake in shares of Granite Construction during the first quarter worth about $1,160,000. EFG International AG bought a new stake in shares of Granite Construction in the second quarter worth about $6,424,000. Finally, Great Lakes Advisors LLC bought a new stake in shares of Granite Construction in the second quarter worth about $5,104,000.
Granite Construction Stock Down 0.2%
GVA opened at $119.26 on Friday. The stock has a market cap of $5.22 billion, a PE ratio of -27.67 and a beta of 1.32. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 1.46. Granite Construction has a 52 week low of $97.26 and a 52 week high of $162.08. The business’s fifty day simple moving average is $127.34 and its 200 day simple moving average is $130.37.
Granite Construction (NYSE:GVA – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The construction company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.09). The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.41 billion. Granite Construction had a positive return on equity of 27.83% and a negative net margin of 3.32%.The company’s revenue for the quarter was up 28.8% on a year-over-year basis. During the same period last year, the firm earned $1.42 EPS. As a group, research analysts expect that Granite Construction will post 6.36 earnings per share for the current fiscal year.
Granite Construction Company Profile
Granite Construction Inc is a publicly traded heavy civil contractor and construction materials producer based in Watsonville, California. The company specializes in delivering large-scale infrastructure projects for government and private clients, focusing on the development, rehabilitation and maintenance of transportation, water resource and industrial facilities. Its turnkey solutions span the full project lifecycle, from preconstruction and design-build to construction management and facilities maintenance.
In its construction segment, Granite undertakes highway and bridge building, airport runway and taxiway construction, marine terminal and port improvements, dam and reservoir projects, transit systems and underground utilities.
Further Reading
- Five stocks we like better than Granite Construction
- Revolution Medicines Got Its Breakthrough—What Moves It Next?
- Retail Earnings Just Exposed a Bigger Divide in the U.S. Consumer Economy
- FB Financial’s Southern Expansion and Buybacks Drive Analyst Optimism
- AST SpaceMobile Stock Soared 12%—This Was the Catalyst
Receive News & Ratings for Granite Construction Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Granite Construction and related companies with MarketBeat.com's FREE daily email newsletter.
