Sterling Construction (NASDAQ:STRL) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Sterling Construction (NASDAQ:STRL) from a buy rating to a hold rating in a research report sent to investors on Thursday morning, Zacks.com reports.

According to Zacks, “Sterling is a leading heavy civil construction company that specializes in the building and reconstruction of transportation and water infrastructure projects in the U.S. The company’s transportation infrastructure projects include highways, roads, bridges, airfields, ports and light rail. Its water infrastructure projects include water, wastewater and storm drainage systems. “

STRL opened at $23.16 on Thursday. Sterling Construction has a fifty-two week low of $8.90 and a fifty-two week high of $25.74. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.04. The company has a market cap of $662.51 million, a price-to-earnings ratio of 13.16 and a beta of 1.38. The stock’s 50 day simple moving average is $22.44.

Sterling Construction (NASDAQ:STRL) last posted its earnings results on Sunday, May 2nd. The construction company reported $0.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.16. Sterling Construction had a net margin of 3.44% and a return on equity of 19.20%. The firm had revenue of $315.32 million for the quarter, compared to analyst estimates of $312.00 million. As a group, research analysts expect that Sterling Construction will post 1.87 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. BCK Capital Management LP grew its holdings in Sterling Construction by 30.3% during the 1st quarter. BCK Capital Management LP now owns 127,109 shares of the construction company’s stock worth $2,949,000 after acquiring an additional 29,582 shares during the last quarter. Foundry Partners LLC lifted its position in shares of Sterling Construction by 13.6% in the 1st quarter. Foundry Partners LLC now owns 311,020 shares of the construction company’s stock worth $7,216,000 after purchasing an additional 37,305 shares during the period. Essex Investment Management Co. LLC lifted its position in shares of Sterling Construction by 17.1% in the 4th quarter. Essex Investment Management Co. LLC now owns 261,534 shares of the construction company’s stock worth $4,867,000 after purchasing an additional 38,195 shares during the period. New York State Common Retirement Fund lifted its position in shares of Sterling Construction by 10.1% in the 4th quarter. New York State Common Retirement Fund now owns 72,806 shares of the construction company’s stock worth $1,355,000 after purchasing an additional 6,700 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its position in shares of Sterling Construction by 60.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 10,998 shares of the construction company’s stock worth $255,000 after purchasing an additional 4,144 shares during the period. 81.43% of the stock is currently owned by hedge funds and other institutional investors.

About Sterling Construction

Sterling Construction Company, Inc, a construction company, engages in the heavy civil, specialty services, and residential construction activities primarily in the southern United States, the Rocky Mountain states, California, and Hawaii. The company undertakes various heavy civil construction projects, including highways, roads, bridges, airfields, ports, light rail, water, wastewater and storm drainage systems for the departments of transportation in various states, regional transit authorities, airport authorities, port authorities, water authorities, and railroads.

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