Granite Construction Inc. (GVA) Receives Average Rating of “Buy” from Analysts

Granite Construction Inc. (NYSE:GVA) has been given an average rating of “Buy” by the eleven ratings firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $66.43.

Several research firms have recently commented on GVA. Zacks Investment Research upgraded shares of Granite Construction from a “sell” rating to a “hold” rating in a research report on Wednesday. B. Riley restated a “buy” rating on shares of Granite Construction in a research report on Wednesday, November 1st. Canaccord Genuity raised their target price on shares of Granite Construction from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, October 30th. DA Davidson restated a “hold” rating and set a $65.00 target price on shares of Granite Construction in a research report on Monday, October 30th. Finally, Cowen restated a “buy” rating and set a $70.00 target price on shares of Granite Construction in a research report on Tuesday, September 19th.

In other Granite Construction news, Director Claes Bjork sold 1,264 shares of Granite Construction stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $63.05, for a total value of $79,695.20. Following the transaction, the director now owns 50,972 shares in the company, valued at approximately $3,213,784.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William Howard Powell sold 3,103 shares of Granite Construction stock in a transaction on Friday, November 10th. The shares were sold at an average price of $63.85, for a total transaction of $198,126.55. Following the completion of the transaction, the director now owns 46,771 shares in the company, valued at approximately $2,986,328.35. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Fieldpoint Private Securities LLC acquired a new position in shares of Granite Construction in the 3rd quarter valued at $106,000. Advisor Group Inc. boosted its holdings in shares of Granite Construction by 169.1% in the 3rd quarter. Advisor Group Inc. now owns 1,862 shares of the construction company’s stock valued at $108,000 after purchasing an additional 1,170 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of Granite Construction by 56.3% in the 2nd quarter. Royal Bank of Canada now owns 2,441 shares of the construction company’s stock valued at $118,000 after purchasing an additional 879 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of Granite Construction by 7.1% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,282 shares of the construction company’s stock valued at $158,000 after purchasing an additional 218 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Granite Construction by 38.3% in the 2nd quarter. Sei Investments Co. now owns 3,285 shares of the construction company’s stock valued at $158,000 after purchasing an additional 909 shares during the last quarter. Institutional investors own 99.49% of the company’s stock.

Shares of Granite Construction (NYSE GVA) opened at $65.22 on Friday. The company has a market cap of $2,600.00, a P/E ratio of 49.79, a PEG ratio of 2.97 and a beta of 1.25. Granite Construction has a 1 year low of $45.14 and a 1 year high of $67.39. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.79 and a quick ratio of 1.71.

Granite Construction (NYSE:GVA) last released its quarterly earnings results on Friday, October 27th. The construction company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.10 by $0.04. The business had revenue of $957.10 million for the quarter, compared to analyst estimates of $905.14 million. Granite Construction had a net margin of 1.84% and a return on equity of 5.71%. The company’s quarterly revenue was up 19.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.92 earnings per share. sell-side analysts predict that Granite Construction will post 1.56 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 29th will be given a dividend of $0.13 per share. The ex-dividend date is Thursday, December 28th. This represents a $0.52 dividend on an annualized basis and a yield of 0.80%. Granite Construction’s dividend payout ratio (DPR) is currently 39.69%.

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Granite Construction Company Profile

Granite Construction Incorporated is a heavy civil contractor and construction materials producer in the United States. The Company operates through three segments: Construction, Large Project Construction and Construction Materials. The Company operates across the nation, serving both public and private sector clients.

Analyst Recommendations for Granite Construction (NYSE:GVA)

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