Stock analysts at JPMorgan Chase & Co. started coverage on shares of Sterling Infrastructure (NASDAQ:STRL – Get Free Report) in a research note issued on Tuesday, Briefing.com reports. The brokerage set an “overweight” rating and a $585.00 price target on the construction company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 101.26% from the company’s previous close.
Several other equities analysts have also issued reports on the company. Zacks Research lowered Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 7th. Stifel Nicolaus reduced their price objective on shares of Sterling Infrastructure from $804.00 to $742.00 and set a “buy” rating for the company in a research report on Thursday, October 8th. Wall Street Zen raised shares of Sterling Infrastructure from a “buy” rating to a “strong-buy” rating in a research report on Saturday. DA Davidson lowered their price objective on shares of Sterling Infrastructure from $700.00 to $680.00 and set a “buy” rating for the company in a research note on Friday, October 30th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $742.00 target price on shares of Sterling Infrastructure in a research report on Thursday, October 29th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Sterling Infrastructure currently has a consensus rating of “Moderate Buy” and an average target price of $709.14.
Check Out Our Latest Report on STRL
Sterling Infrastructure Stock Up 15.0%
Shares of NASDAQ:STRL opened at $290.67 on Tuesday. The company has a market capitalization of $8.87 billion, a price-to-earnings ratio of 14.64, a P/E/G 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. The business’s 50-day moving average is $448.41 and its 200-day moving average is $548.46. Sterling Infrastructure has a 1 year low of $239.35 and a 1 year high of $1,005.68.
Sterling Infrastructure (NASDAQ:STRL – Get Free Report) last announced its earnings results on Wednesday, October 28th. The construction company reported $7.58 EPS for the quarter, beating the consensus estimate of $6.20 by $1.38. Sterling Infrastructure had a return on equity of 45.97% and a net margin of 12.85%. The company had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.19 billion. The business’s revenue was up 127.0% on a year-over-year basis. Equities research analysts predict that Sterling Infrastructure will post 20.96 earnings per share for the current year.
Institutional Trading of Sterling Infrastructure
Large investors have recently made changes to their positions in the company. HighTower Advisors LLC boosted its holdings in Sterling Infrastructure by 76.0% in the third quarter. HighTower Advisors LLC now owns 12,343 shares of the construction company’s stock worth $6,070,000 after acquiring an additional 5,330 shares in the last quarter. Paralel Advisors LLC increased its holdings in shares of Sterling Infrastructure by 1.1% during the third quarter. Paralel Advisors LLC now owns 5,736 shares of the construction company’s stock valued at $2,821,000 after acquiring an additional 64 shares in the last quarter. Intech Investment Management LLC increased its holdings in shares of Sterling Infrastructure by 46.7% during the third quarter. Intech Investment Management LLC now owns 2,114 shares of the construction company’s stock valued at $1,040,000 after acquiring an additional 673 shares in the last quarter. Thoroughbred Financial Services LLC increased its holdings in shares of Sterling Infrastructure by 6.4% during the third quarter. Thoroughbred Financial Services LLC now owns 13,418 shares of the construction company’s stock valued at $6,598,000 after acquiring an additional 810 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its position in shares of Sterling Infrastructure by 35.5% during the third quarter. Hantz Financial Services Inc. now owns 1,793 shares of the construction company’s stock worth $882,000 after purchasing an additional 470 shares during the period. 80.95% of the stock is currently owned by institutional investors and hedge funds.
About Sterling Infrastructure
Sterling Infrastructure, Inc (NASDAQ: STRL) is a U.S.-based construction company that delivers infrastructure and building services through its E-Infrastructure Solutions, Transportation Solutions and Building Solutions segments.
E-Infrastructure Solutions provides site development and related services for data centers, manufacturing facilities, distribution centers and other large-scale projects. Transportation Solutions builds and improves public infrastructure, including roads and bridges, while Building Solutions focuses on concrete foundations and other construction services for residential and commercial customers.
Formerly known as Sterling Construction Company, the business traces its roots to 1955 and adopted the Sterling Infrastructure name in 2022.
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