ValuEngine lowered shares of Granite Construction (NYSE:GVA) from a hold rating to a sell rating in a report published on Thursday, ValuEngine reports.

GVA has been the topic of a number of other reports. B. Riley reiterated a buy rating on shares of Insight Enterprises in a research report on Monday, April 29th. Goldman Sachs Group upgraded shares of Koninklijke KPN from a neutral rating to a buy rating in a research report on Wednesday, May 29th. Zacks Investment Research downgraded shares of EXACT Sciences from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Finally, MKM Partners set a $61.00 price target on shares of Granite Construction and gave the company a buy rating in a research report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $59.00.

Shares of NYSE:GVA opened at $43.38 on Thursday. The firm has a market cap of $2.03 billion, a P/E ratio of 24.37, a price-to-earnings-growth ratio of 2.19 and a beta of 1.34. The company has a 50 day moving average price of $43.83. The company has a quick ratio of 1.97, a current ratio of 2.12 and a debt-to-equity ratio of 0.24. Granite Construction has a fifty-two week low of $38.55 and a fifty-two week high of $58.93.

Granite Construction (NYSE:GVA) last announced its quarterly earnings results on Friday, April 26th. The construction company reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.35). The firm had revenue of $619.80 million during the quarter, compared to analyst estimates of $644.46 million. Granite Construction had a net margin of 0.57% and a return on equity of 6.03%. The business’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.13) earnings per share. On average, equities analysts anticipate that Granite Construction will post 2.83 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $0.52 dividend on an annualized basis and a yield of 1.20%. Granite Construction’s payout ratio is 22.22%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. NumerixS Investment Technologies Inc bought a new position in shares of Granite Construction during the 4th quarter worth approximately $48,000. Tompkins Financial Corp grew its stake in shares of Granite Construction by 47.8% during the 1st quarter. Tompkins Financial Corp now owns 1,700 shares of the construction company’s stock worth $73,000 after acquiring an additional 550 shares in the last quarter. Golden State Wealth Management LLC bought a new position in shares of Granite Construction during the 1st quarter worth approximately $206,000. Fagan Associates Inc. bought a new position in shares of Granite Construction during the 1st quarter worth approximately $208,000. Finally, Neuburgh Advisers LLC grew its stake in shares of Granite Construction by 15.9% during the 4th quarter. Neuburgh Advisers LLC now owns 5,302 shares of the construction company’s stock worth $214,000 after acquiring an additional 726 shares in the last quarter. 98.60% of the stock is owned by institutional investors and hedge funds.

Granite Construction Company Profile

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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Analyst Recommendations for Granite Construction (NYSE:GVA)

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