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

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. “

Several other equities analysts have also recently issued reports on the company. TheStreet upgraded Sterling Construction from a “c” rating to a “b-” rating in a research report on Wednesday, August 2nd. BidaskClub cut Sterling Construction from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. DA Davidson raised Sterling Construction from a “neutral” rating to a “buy” rating and set a $15.00 price target for the company in a report on Thursday, June 29th. Finally, Canaccord Genuity lifted their price target on Sterling Construction from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. Sterling Construction has a consensus rating of “Hold” and an average price target of $14.00.

Shares of Sterling Construction (NASDAQ STRL) traded down 1.68% during mid-day trading on Wednesday, reaching $15.21. The company’s stock had a trading volume of 173,631 shares. Sterling Construction has a 1-year low of $6.13 and a 1-year high of $16.05. The company’s 50 day moving average price is $12.96 and its 200-day moving average price is $11.32. The company’s market capitalization is $411.13 million.

Sterling Construction (NASDAQ:STRL) last announced its quarterly earnings data on Wednesday, August 2nd. The construction company reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.17. The firm had revenue of $264.40 million during the quarter, compared to the consensus estimate of $231.42 million. Sterling Construction had a negative net margin of 0.33% and a positive return on equity of 0.06%. The firm’s revenue was up 39.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.09 earnings per share. Analysts predict that Sterling Construction will post $0.39 earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Campbell & CO Investment Adviser LLC purchased a new stake in Sterling Construction during the second quarter worth about $143,000. Voya Investment Management LLC acquired a new position in Sterling Construction during the second quarter worth about $144,000. Thompson Davis & CO. Inc. acquired a new position in Sterling Construction during the second quarter worth about $150,000. Airain ltd acquired a new position in Sterling Construction during the second quarter worth about $168,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Sterling Construction during the second quarter worth about $194,000. Hedge funds and other institutional investors own 78.39% of the company’s stock.

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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