Sterling Infrastructure, Inc. (NASDAQ:STRL – Get Free Report) gapped up prior to trading on Wednesday. The stock had previously closed at $289.56, but opened at $315.00. Sterling Infrastructure shares last traded at $308.0540, with a volume of 133,732 shares changing hands.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on STRL shares. Zacks Research downgraded Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. KeyCorp raised their target price on shares of Sterling Infrastructure from $754.00 to $755.00 and gave the stock an “overweight” rating in a report on Thursday, October 15th. Wall Street Zen raised shares of Sterling Infrastructure from a “buy” rating to a “strong-buy” rating in a research report on Saturday. JPMorgan Chase & Co. began coverage on shares of Sterling Infrastructure in a research note on Tuesday. They issued an “overweight” rating and a $585.00 price objective for the company. Finally, Weiss Ratings lowered Sterling Infrastructure from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, September 9th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $709.14.
Check Out Our Latest Stock Analysis on STRL
Sterling Infrastructure Trading Up 9.9%
The company has a market cap of $9.71 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 0.54 and a beta of 1.97. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.04 and a current ratio of 1.04. The business’s 50 day moving average price is $444.80 and its 200-day moving average price is $548.09.
Sterling Infrastructure (NASDAQ:STRL – Get Free Report) last posted its earnings results on Wednesday, October 28th. The construction company reported $7.58 earnings per share for the quarter, beating 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 company’s revenue was up 127.0% on a year-over-year basis. On average, research analysts forecast that Sterling Infrastructure, Inc. will post 20.96 EPS for the current year.
Institutional Investors Weigh In On Sterling Infrastructure
A number of institutional investors have recently made changes to their positions in STRL. Wellington Shields & Co. LLC acquired a new position in shares of Sterling Infrastructure during the second quarter worth about $29,000. NFSG Corp grew its position in Sterling Infrastructure by 578.6% in the first quarter. NFSG Corp now owns 95 shares of the construction company’s stock valued at $39,000 after purchasing an additional 81 shares in the last quarter. Persistent Asset Partners Ltd bought a new stake in Sterling Infrastructure during the 2nd quarter worth about $40,000. Signature Equity Partners LLC boosted its stake in shares of Sterling Infrastructure by 19.5% during the 1st quarter. Signature Equity Partners LLC now owns 104 shares of the construction company’s stock worth $42,000 after buying an additional 17 shares during the last quarter. Finally, Fortitude Family Office LLC boosted its stake in shares of Sterling Infrastructure by 118.6% during the 3rd quarter. Fortitude Family Office LLC now owns 94 shares of the construction company’s stock worth $46,000 after buying an additional 51 shares during the last quarter. 80.95% of the stock is 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.
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