Sterling Construction (STRL) Rating Lowered to Hold at Zacks Investment Research

Sterling Construction (NASDAQ:STRL) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Friday.

According to Zacks, “Sterling Construction Company, Inc. is a holding company which has historically operated as a wholesale distributor to the automotive aftermarket and construction through two subsidiaries, Steel City Products and Dowling’s Fleet Service. “

A number of other equities analysts have also recently issued reports on STRL. TheStreet upgraded shares of Sterling Construction from a “c+” rating to a “b-” rating in a research report on Tuesday, December 12th. BidaskClub cut shares of Sterling Construction from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 5th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $17.00.

Sterling Construction (NASDAQ STRL) traded up $0.18 during mid-day trading on Friday, hitting $15.76. 340,700 shares of the company’s stock were exchanged, compared to its average volume of 333,700. Sterling Construction has a 12-month low of $7.75 and a 12-month high of $18.90. The stock has a market capitalization of $426.33, a PE ratio of 315.26, a price-to-earnings-growth ratio of 1.45 and a beta of 0.37. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.44 and a quick ratio of 1.42.

Sterling Construction (NASDAQ:STRL) last released its quarterly earnings data on Monday, October 30th. The construction company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. Sterling Construction had a net margin of 0.25% and a return on equity of 3.90%. The firm had revenue of $304.20 million for the quarter, compared to analysts’ expectations of $263.69 million. During the same quarter in the previous year, the company earned $0.10 earnings per share. The company’s revenue for the quarter was up 48.0% compared to the same quarter last year. research analysts expect that Sterling Construction will post 0.44 EPS for the current fiscal year.

In related news, Director Maarten D. Hemsley sold 29,800 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $17.32, for a total transaction of $516,136.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 5.20% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in STRL. Schwab Charles Investment Management Inc. purchased a new position in shares of Sterling Construction during the second quarter valued at about $560,000. Rhumbline Advisers purchased a new position in shares of Sterling Construction during the second quarter valued at about $371,000. Bank of New York Mellon Corp increased its position in shares of Sterling Construction by 409.3% during the second quarter. Bank of New York Mellon Corp now owns 125,747 shares of the construction company’s stock valued at $1,644,000 after buying an additional 101,057 shares during the period. American Century Companies Inc. purchased a new position in shares of Sterling Construction during the second quarter valued at about $328,000. Finally, Airain ltd purchased a new position in shares of Sterling Construction during the second quarter valued at about $168,000. Institutional investors own 71.91% of the company’s stock.

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About Sterling Construction

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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