ValuEngine downgraded shares of Granite Construction (NYSE:GVA) from a hold rating to a sell rating in a research note issued to investors on Tuesday, ValuEngine reports.

Several other analysts have also recently commented on GVA. Goldman Sachs Group cut Granite Construction from a buy rating to a neutral rating and lowered their target price for the company from $58.00 to $50.00 in a research report on Monday, December 10th. TheStreet cut Granite Construction from a b rating to a c+ rating in a research report on Thursday, December 20th. Zacks Investment Research cut Granite Construction from a hold rating to a sell rating in a research report on Wednesday, January 2nd. Finally, MKM Partners raised their target price on Granite Construction from $60.00 to $61.00 and gave the company a buy rating in a research report on Thursday, February 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. Granite Construction currently has a consensus rating of Hold and a consensus target price of $59.60.

GVA opened at $42.81 on Tuesday. Granite Construction has a 12 month low of $38.55 and a 12 month high of $60.11. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.96 and a current ratio of 2.09. The company has a market capitalization of $2.06 billion, a P/E ratio of 18.29, a price-to-earnings-growth ratio of 1.80 and a beta of 1.20.

Granite Construction (NYSE:GVA) last posted its earnings results on Wednesday, February 20th. The construction company reported $0.50 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.57). Granite Construction had a net margin of 1.28% and a return on equity of 8.19%. The business had revenue of $892.00 million during the quarter, compared to analyst estimates of $966.85 million. During the same quarter in the prior year, the business earned $0.81 earnings per share. The firm’s revenue was up 11.4% compared to the same quarter last year. As a group, research analysts expect that Granite Construction will post 3.55 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Thursday, March 28th. Granite Construction’s payout ratio is currently 22.22%.

Hedge funds and other institutional investors have recently modified their holdings of the business. NumerixS Investment Technologies Inc bought a new position in Granite Construction during the 4th quarter valued at $48,000. Tower Research Capital LLC TRC boosted its stake in Granite Construction by 1,072.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 4,011 shares of the construction company’s stock valued at $183,000 after purchasing an additional 3,669 shares in the last quarter. Essex Investment Management Co. LLC bought a new position in Granite Construction during the 4th quarter valued at $199,000. Cambridge Investment Research Advisors Inc. bought a new position in Granite Construction during the 4th quarter valued at $201,000. Finally, Rowland & Co. Investment Counsel ADV boosted its stake in Granite Construction by 13.6% during the 4th quarter. Rowland & Co. Investment Counsel ADV now owns 5,020 shares of the construction company’s stock valued at $202,000 after purchasing an additional 600 shares in the last quarter. 96.76% of the stock is owned by hedge funds and other institutional investors.

About Granite Construction

Granite Construction Incorporated operates as an infrastructure contractor and a construction materials producer in the United States. The company operates through Transportation, Water, Specialty, and Materials segments. The Transportation segment engages in the construction and rehabilitation of roads, pavement preservation, bridges, rail lines, airports, and marine ports.

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