Sterling Infrastructure (NASDAQ:STRL) Upgraded by Zacks Research to "Strong-Buy" Rating

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report released on Tuesday,Zacks.com reports.

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Several other brokerages have also issued reports on STRL. DA Davidson lifted their price objective on shares of Sterling Infrastructure from $355.00 to $460.00 and gave the company a "buy" rating in a report on Wednesday, November 5th. Wall Street Zen downgraded shares of Sterling Infrastructure from a "strong-buy" rating to a "buy" rating in a report on Friday, September 26th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Sterling Infrastructure in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $460.00.

View Our Latest Stock Analysis on Sterling Infrastructure

Sterling Infrastructure Stock Performance

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STRL opened at $323.46 on Tuesday. Sterling Infrastructure has a fifty-two week low of $96.34 and a fifty-two week high of $419.14. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.00 and a current ratio of 1.00. The company has a fifty day moving average of $354.83 and a 200 day moving average of $289.37. The stock has a market capitalization of $9.94 billion, a price-to-earnings ratio of 31.71, a PEG ratio of 2.17 and a beta of 1.49.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last released its quarterly earnings results on Monday, June 3rd. The construction company reported $0.64 earnings per share (EPS) for the quarter. The company had revenue of $403.58 million for the quarter. Sterling Infrastructure had a net margin of 14.14% and a return on equity of 29.81%. As a group, sell-side analysts forecast that Sterling Infrastructure will post 5.98 earnings per share for the current fiscal year.

Sterling Infrastructure declared that its Board of Directors has initiated a share repurchase program on Wednesday, November 12th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the construction company to reacquire up to 3.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's leadership believes its shares are undervalued.

Institutional Trading of Sterling Infrastructure

A number of hedge funds and other institutional investors have recently made changes to their positions in STRL. Millennium Management LLC grew its stake in shares of Sterling Infrastructure by 743.9% in the 1st quarter. Millennium Management LLC now owns 493,393 shares of the construction company's stock valued at $55,857,000 after purchasing an additional 434,925 shares during the last quarter. State Street Corp grew its stake in Sterling Infrastructure by 62.0% in the 2nd quarter. State Street Corp now owns 1,131,751 shares of the construction company's stock valued at $261,129,000 after acquiring an additional 433,311 shares during the last quarter. Invesco Ltd. increased its stake in shares of Sterling Infrastructure by 82.7% during the 2nd quarter. Invesco Ltd. now owns 735,910 shares of the construction company's stock worth $169,797,000 after purchasing an additional 333,013 shares in the last quarter. American Century Companies Inc. lifted its stake in Sterling Infrastructure by 84.6% in the 3rd quarter. American Century Companies Inc. now owns 654,096 shares of the construction company's stock valued at $222,184,000 after buying an additional 299,724 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Sterling Infrastructure by 83.5% during the third quarter. First Trust Advisors LP now owns 606,236 shares of the construction company's stock valued at $205,926,000 after acquiring an additional 275,830 shares during the last quarter. Institutional investors and hedge funds own 80.95% of the company's stock.

Sterling Infrastructure Company Profile

Sterling Infrastructure, Inc engages in the provision of e-infrastructure, transportation, and building solutions primarily in the United States. It operates through three segments: E-Infrastructure Solutions, Transportation Solutions, and Building Solutions. The E-Infrastructure Solutions segment provides site development services for the blue-chip end users in the e-commerce distribution center, data center, manufacturing, warehousing, and power generation sectors.

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