JPMorgan Chase & Co. began coverage on shares of Sterling Infrastructure (NASDAQ:STRL – Get Free Report) in a research report issued on Tuesday, Briefing.com reports. The firm set an “overweight” rating and a $585.00 price target on the construction company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 101.26% from the stock’s current price.
Several other brokerages also recently issued reports on STRL. Zacks Research downgraded shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. Cantor Fitzgerald restated an “overweight” rating and set a $742.00 price objective on shares of Sterling Infrastructure in a research report on Thursday, October 29th. KeyCorp upped their target price on Sterling Infrastructure from $754.00 to $755.00 and gave the stock an “overweight” rating in a report on Thursday, October 15th. DA Davidson cut their price target on Sterling Infrastructure from $700.00 to $680.00 and set a “buy” rating on the stock in a research note on Friday, October 30th. Finally, Weiss Ratings lowered shares of Sterling Infrastructure from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, September 9th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $709.14.
Read Our Latest Report on Sterling Infrastructure
Sterling Infrastructure Trading Up 15.0%
STRL opened at $290.67 on Tuesday. The company has a 50-day simple moving average of $448.41 and a 200 day simple moving average of $548.46. Sterling Infrastructure has a twelve month low of $239.35 and a twelve month high of $1,005.68. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $8.87 billion, a price-to-earnings ratio of 14.64, a P/E/G ratio of 0.53 and a beta of 1.97.
Sterling Infrastructure (NASDAQ:STRL – Get Free Report) last posted its quarterly earnings results on Wednesday, October 28th. The construction company reported $7.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.20 by $1.38. Sterling Infrastructure had a net margin of 12.85% and a return on equity of 45.97%. The business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.19 billion. The business’s quarterly revenue was up 127.0% compared to the same quarter last year. Analysts predict that Sterling Infrastructure will post 20.96 EPS for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Shields & Co. LLC bought a new position in shares of Sterling Infrastructure during the second quarter worth about $29,000. Persistent Asset Partners Ltd acquired a new stake in Sterling Infrastructure during the 2nd quarter valued at approximately $40,000. MassMutual Private Wealth & Trust FSB increased its position in Sterling Infrastructure by 100.0% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 60 shares of the construction company’s stock valued at $50,000 after purchasing an additional 30 shares during the period. TD Waterhouse Canada Inc. increased its position in Sterling Infrastructure by 35.7% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 76 shares of the construction company’s stock valued at $59,000 after purchasing an additional 20 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Sterling Infrastructure by 43.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 79 shares of the construction company’s stock worth $66,000 after purchasing an additional 24 shares during the last quarter. 80.95% of the stock is owned by institutional investors and hedge funds.
Sterling Infrastructure Company Profile
Sterling Infrastructure, Inc NASDAQ: STRL is a U.S.-based construction company that delivers infrastructure and building services through its E-Infrastructure Solutions, Transportation Solutions and Building Solutions segments.
E-Infrastructure Solutions provides site development and related services for data centers, manufacturing facilities, distribution centers and other large-scale projects. Transportation Solutions builds and improves public infrastructure, including roads and bridges, while Building Solutions focuses on concrete foundations and other construction services for residential and commercial customers.
Formerly known as Sterling Construction Company, the business traces its roots to 1955 and adopted the Sterling Infrastructure name in 2022.
Featured Articles
- Five stocks we like better than Sterling Infrastructure
- Wall Street May Be Making a Big Mistake With monday.com Stock
- Are These 2 Mid-Cap Growth Stocks Worth the Risk?
- Oklo Changes the Narrative: Does a Nuclear Stock Price Explosion Come Next?
- Cloudflare’s 20% Sell-Off May Have Created an Opening for Investors
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Should You Invest $1,000 in Sterling Infrastructure Right Now?
Before you consider Sterling Infrastructure, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Sterling Infrastructure wasn’t on the list.
While Sterling Infrastructure currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
A strong long-term portfolio starts with companies that can survive recessions, inflation, changing consumer habits, and shifting market leadership.
This report names seven blue-chip stocks across technology, retail, consumer staples, healthcare, networking, sporting goods, and utilities that offer investors a mix of stability, income, growth, and staying power.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
