BidaskClub Lowers Sterling Construction (NASDAQ:STRL) to Hold

BidaskClub cut shares of Sterling Construction (NASDAQ:STRL) from a buy rating to a hold rating in a research report sent to investors on Saturday morning, BidAskClub reports.

A number of other research firms also recently issued reports on STRL. ValuEngine downgraded shares of Verso from a hold rating to a sell rating in a research note on Thursday, May 23rd. Zacks Investment Research downgraded shares of Haynes International from a hold rating to a sell rating in a research note on Wednesday, May 8th.

Shares of NASDAQ:STRL opened at $13.38 on Friday. The stock has a market capitalization of $354.82 million, a price-to-earnings ratio of 14.39, a PEG ratio of 1.09 and a beta of 1.12. The stock’s 50 day moving average is $13.13. Sterling Construction has a one year low of $9.71 and a one year high of $16.07. The company has a current ratio of 1.66, a quick ratio of 1.64 and a debt-to-equity ratio of 0.51.

Sterling Construction (NASDAQ:STRL) last released its quarterly earnings data on Monday, May 6th. The construction company reported $0.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.06). Sterling Construction had a net margin of 2.36% and a return on equity of 14.67%. The business had revenue of $223.90 million for the quarter, compared to the consensus estimate of $225.85 million. During the same quarter in the prior year, the business posted $0.09 earnings per share. Sterling Construction’s revenue for the quarter was up .6% on a year-over-year basis. On average, sell-side analysts expect that Sterling Construction will post 1.13 EPS for the current fiscal year.

In other Sterling Construction news, Director Roger A. Cregg acquired 10,000 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were purchased at an average cost of $11.94 per share, for a total transaction of $119,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers grew its position in Sterling Construction by 44.0% during the 4th quarter. Rhumbline Advisers now owns 36,645 shares of the construction company’s stock worth $399,000 after acquiring an additional 11,202 shares during the last quarter. Prudential Financial Inc. grew its position in Sterling Construction by 7.5% during the 4th quarter. Prudential Financial Inc. now owns 200,046 shares of the construction company’s stock worth $2,179,000 after acquiring an additional 14,030 shares during the last quarter. New York State Common Retirement Fund grew its position in Sterling Construction by 133.9% during the 4th quarter. New York State Common Retirement Fund now owns 64,568 shares of the construction company’s stock worth $703,000 after acquiring an additional 36,968 shares during the last quarter. Bank of New York Mellon Corp grew its position in Sterling Construction by 7.2% during the 4th quarter. Bank of New York Mellon Corp now owns 196,892 shares of the construction company’s stock worth $2,144,000 after acquiring an additional 13,154 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Sterling Construction by 19.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,085 shares of the construction company’s stock worth $328,000 after acquiring an additional 4,810 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Sterling Construction Company Profile

Sterling Construction Company, Inc, together with its subsidiaries, operates as a heavy civil and residential construction company in Arizona, California, Colorado, Hawaii, Nevada, Texas, Utah, and other states in the United States. The company's Heavy Civil Construction segment undertakes heavy civil construction projects, including highways, roads, bridges, airfields, ports, light rail, water, wastewater and storm drainage systems, foundations for multi-family homes, commercial concrete projects, and parking structures.

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