BidaskClub Lowers Sterling Construction (STRL) to Buy

Sterling Construction (NASDAQ:STRL) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday, February 5th.

STRL has been the subject of several other reports. Zacks Investment Research cut Sterling Construction from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. ValuEngine cut Sterling Construction from a “hold” rating to a “sell” rating in a research note on Thursday, December 13th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $17.50.

Sterling Construction stock traded up $0.09 during midday trading on Tuesday, hitting $14.70. 288,219 shares of the stock were exchanged, compared to its average volume of 133,727. The stock has a market cap of $398.17 million, a P/E ratio of 26.73, a PEG ratio of 1.08 and a beta of 0.94. Sterling Construction has a fifty-two week low of $9.71 and a fifty-two week high of $16.07. The company has a current ratio of 1.61, a quick ratio of 1.59 and a debt-to-equity ratio of 0.46.

Institutional investors and hedge funds have recently made changes to their positions in the stock. New York State Teachers Retirement System acquired a new stake in Sterling Construction in the fourth quarter worth $26,000. Macquarie Group Ltd. increased its position in Sterling Construction by 111.1% in the fourth quarter. Macquarie Group Ltd. now owns 3,800 shares of the construction company’s stock worth $41,000 after buying an additional 2,000 shares during the period. Citigroup Inc. increased its position in Sterling Construction by 17.6% in the fourth quarter. Citigroup Inc. now owns 8,617 shares of the construction company’s stock worth $94,000 after buying an additional 1,292 shares during the period. Metropolitan Life Insurance Co. NY increased its position in Sterling Construction by 424.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 8,888 shares of the construction company’s stock worth $97,000 after buying an additional 7,194 shares during the period. Finally, Stephens Inc. AR acquired a new stake in Sterling Construction in the fourth quarter worth $109,000. Hedge funds and other institutional investors own 77.74% of the company’s stock.

About Sterling Construction

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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