Sterling Construction Company Inc (STRL) Trading Up 7.1%

Shares of Sterling Construction Company Inc (NASDAQ:STRL) were up 7.1% during mid-day trading on Monday . The company traded as high as $12.90 and last traded at $12.62. Approximately 996,204 shares were traded during mid-day trading, an increase of 141% from the average daily volume of 413,163 shares. The stock had previously closed at $11.78.

A number of analysts have issued reports on STRL shares. TheStreet raised Sterling Construction from a “c” rating to a “b-” rating in a research note on Wednesday, August 2nd. Zacks Investment Research raised Sterling Construction from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Thursday, May 11th. BidaskClub downgraded Sterling Construction from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. Canaccord Genuity raised their target price on Sterling Construction from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Finally, DA Davidson raised Sterling Construction from a “neutral” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Thursday, June 29th. One research analyst has rated the stock with a sell rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $14.00.

The firm’s market capitalization is $343.01 million. The stock has a 50 day moving average price of $11.48 and a 200 day moving average price of $10.57.

Sterling Construction (NASDAQ:STRL) last issued its quarterly earnings data on Wednesday, August 2nd. The construction company reported $0.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.17. Sterling Construction had a positive return on equity of 0.06% and a negative net margin of 0.33%. The business had revenue of $264.40 million for the quarter, compared to the consensus estimate of $231.42 million. During the same period in the prior year, the business earned $0.09 earnings per share. The business’s revenue was up 39.5% on a year-over-year basis. On average, analysts predict that Sterling Construction Company Inc will post $0.39 earnings per share for the current fiscal year.

In related news, Director Milton L. Scott sold 15,000 shares of the company’s stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $10.63, for a total value of $159,450.00. Following the completion of the transaction, the director now directly owns 45,307 shares in the company, valued at $481,613.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.20% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in Sterling Construction by 0.4% in the first quarter. Geode Capital Management LLC now owns 142,942 shares of the construction company’s stock valued at $1,322,000 after purchasing an additional 558 shares during the last quarter. Trexquant Investment LP increased its stake in Sterling Construction by 8.1% in the first quarter. Trexquant Investment LP now owns 19,977 shares of the construction company’s stock valued at $185,000 after purchasing an additional 1,489 shares during the last quarter. Parametric Portfolio Associates LLC increased its stake in Sterling Construction by 16.5% in the second quarter. Parametric Portfolio Associates LLC now owns 32,559 shares of the construction company’s stock valued at $426,000 after purchasing an additional 4,603 shares during the last quarter. Citadel Advisors LLC increased its stake in Sterling Construction by 63.6% in the first quarter. Citadel Advisors LLC now owns 17,205 shares of the construction company’s stock valued at $159,000 after purchasing an additional 6,691 shares during the last quarter. Finally, Argent Capital Management LLC increased its stake in Sterling Construction by 2.4% in the first quarter. Argent Capital Management LLC now owns 306,530 shares of the construction company’s stock valued at $2,835,000 after purchasing an additional 7,325 shares during the last quarter. Hedge funds and other institutional investors own 78.39% of the company’s stock.

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Sterling Construction Company Profile

Sterling Construction Company, Inc is a heavy civil construction company engaged in the building and reconstruction of transportation and water infrastructure projects in Texas, Utah, Nevada, Arizona, California, Hawaii and other states. The Company’s transportation infrastructure projects include highways, roads, bridges, airfields, ports and light rail.

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