Sterling Infrastructure, Inc. (NASDAQ:STRL – Get Free Report)’s stock price was down 14.4% on Wednesday. The company traded as low as $300.15 and last traded at $308.9690. 411,300 shares traded hands during mid-day trading, a decline of 36% from the average session volume of 647,001 shares. The stock had previously closed at $361.14.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on STRL. DA Davidson dropped their price objective on shares of Sterling Infrastructure from $700.00 to $680.00 and set a “buy” rating on the stock in a research note on Friday, October 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $742.00 target price on shares of Sterling Infrastructure in a research note on Thursday, October 29th. Wall Street Zen downgraded shares of Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 5th. Stifel Nicolaus dropped their price target on shares of Sterling Infrastructure from $804.00 to $742.00 and set a “buy” rating on the stock in a research note on Thursday, October 8th. Finally, Zacks Research downgraded shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 7th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $729.83.
Get Our Latest Analysis on Sterling Infrastructure
Sterling Infrastructure Price Performance
The company has a 50-day simple moving average of $457.08 and a 200-day simple moving average of $549.31. The stock has a market cap of $7.70 billion, a PE ratio of 14.17, a PEG ratio of 0.53 and a beta of 1.97. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.04 and a quick ratio of 1.04.
Sterling Infrastructure (NASDAQ:STRL – Get Free Report) last posted its quarterly earnings results on Wednesday, October 28th. The construction company reported $7.58 earnings per share for the quarter, topping analysts’ consensus estimates of $6.20 by $1.38. The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Sterling Infrastructure had a net margin of 12.85% and a return on equity of 45.97%. The firm’s revenue for the quarter was up 127.0% on a year-over-year basis. Sell-side analysts anticipate that Sterling Infrastructure, Inc. will post 20.96 EPS for the current fiscal year.
Institutional Investors Weigh In On Sterling Infrastructure
Hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp grew its position in Sterling Infrastructure by 290.7% in the 2nd quarter. State Street Corp now owns 4,253,073 shares of the construction company’s stock worth $3,569,859,000 after purchasing an additional 3,164,551 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Sterling Infrastructure during the second quarter worth approximately $2,713,946,000. Jupiter Topco LLC acquired a new position in Sterling Infrastructure during the 2nd quarter worth $395,056,000. First Trust Advisors LP grew its position in Sterling Infrastructure by 27.3% in the 1st quarter. First Trust Advisors LP now owns 877,990 shares of the construction company’s stock valued at $357,579,000 after buying an additional 188,048 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of Sterling Infrastructure by 7.5% in the 1st quarter. Janus Henderson Group PLC now owns 619,145 shares of the construction company’s stock worth $252,207,000 after acquiring an additional 43,259 shares during the period. 80.95% of the stock is currently owned by institutional investors and hedge funds.
Sterling Infrastructure Company Profile
Sterling Infrastructure, Inc is a U.S.-based infrastructure services company that provides construction and specialty contracting solutions through three principal business segments: E-Infrastructure Solutions, Transportation Solutions and Building Solutions.
Its E-Infrastructure Solutions segment supports the development of data centers, advanced manufacturing facilities, energy and power infrastructure, and other large-scale industrial projects. Transportation Solutions provides construction and rehabilitation services for highways, roads, bridges, airports, rail and transit systems, and related public infrastructure.
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