Sterling Infrastructure (NASDAQ:STRL) Trading Down 10.5% – What’s Next?

Sterling Infrastructure, Inc. (NASDAQ:STRL) shares dropped 10.5% during mid-day trading on Thursday . The stock traded as low as $333.12 and last traded at $340.6040. Approximately 472,618 shares changed hands during mid-day trading, a decline of 26% from the average daily volume of 642,946 shares. The stock had previously closed at $380.70.

Analysts Set New Price Targets

STRL has been the subject of a number of analyst reports. Zacks Research downgraded Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Sterling Infrastructure in a report on Wednesday, October 8th. Wall Street Zen lowered shares of Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a report on Friday, September 26th. Finally, DA Davidson boosted their target price on shares of Sterling Infrastructure from $355.00 to $460.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Sterling Infrastructure currently has an average rating of “Moderate Buy” and an average price target of $460.00.

Sterling Infrastructure Trading Down 10.6%

The business’s 50-day moving average price is $352.18 and its 200-day moving average price is $272.68. The firm has a market capitalization of $10.46 billion, a PE ratio of 36.96, a price-to-earnings-growth ratio of 2.98 and a beta of 1.39. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.42 and a quick ratio of 1.42.

Sterling Infrastructure (NASDAQ:STRL) last issued its quarterly earnings data on Monday, June 3rd. The construction company reported $0.64 earnings per share (EPS) for the quarter. The company had revenue of $403.58 million for the quarter. Sterling Infrastructure had a net margin of 13.33% and a return on equity of 27.93%. As a group, analysts expect that Sterling Infrastructure, Inc. will post 5.98 earnings per share for the current fiscal year.

Sterling Infrastructure declared that its board has initiated a share buyback program on Wednesday, November 12th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the construction company to buy up to 3.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of Sterling Infrastructure

Hedge funds have recently added to or reduced their stakes in the stock. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Sterling Infrastructure in the second quarter valued at approximately $26,000. Root Financial Partners LLC purchased a new position in Sterling Infrastructure in the 3rd quarter valued at $26,000. Wilmington Savings Fund Society FSB acquired a new position in Sterling Infrastructure in the 3rd quarter valued at $28,000. Fifth Third Bancorp raised its position in Sterling Infrastructure by 76.1% during the 3rd quarter. Fifth Third Bancorp now owns 81 shares of the construction company’s stock worth $28,000 after buying an additional 35 shares during the last quarter. Finally, Ameritas Advisory Services LLC purchased a new position in Sterling Infrastructure during the 2nd quarter worth $29,000. 80.95% of the stock is owned by institutional investors and hedge funds.

Sterling Infrastructure Company Profile

Sterling Infrastructure, Inc engages in the provision of e-infrastructure, transportation, and building solutions primarily in the United States. It operates through three segments: E-Infrastructure Solutions, Transportation Solutions, and Building Solutions. The E-Infrastructure Solutions segment provides site development services for the blue-chip end users in the e-commerce distribution center, data center, manufacturing, warehousing, and power generation sectors.