Granite Construction (GVA) Stock Rating Upgraded by ValuEngine

Granite Construction (NYSE:GVA) was upgraded by equities researchers at ValuEngine from a “strong sell” rating to a “sell” rating in a report released on Saturday.

Several other analysts also recently weighed in on GVA. TheStreet downgraded Granite Construction from a “b” rating to a “c+” rating in a research report on Monday, August 13th. Zacks Investment Research downgraded Granite Construction from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. Finally, Canaccord Genuity restated a “buy” rating and set a $65.00 price objective (down from $75.00) on shares of Granite Construction in a research report on Thursday, August 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $70.80.

Shares of GVA stock opened at $45.22 on Friday. The company has a quick ratio of 1.42, a current ratio of 1.53 and a debt-to-equity ratio of 0.22. Granite Construction has a twelve month low of $39.51 and a twelve month high of $68.58. The firm has a market cap of $1.87 billion, a P/E ratio of 27.91, a price-to-earnings-growth ratio of 2.21 and a beta of 1.21.

Granite Construction (NYSE:GVA) last announced its quarterly earnings data on Friday, October 26th. The construction company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.07). Granite Construction had a return on equity of 8.35% and a net margin of 1.88%. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the company earned $1.14 earnings per share. Granite Construction’s quarterly revenue was up 10.3% compared to the same quarter last year. On average, research analysts expect that Granite Construction will post 2.65 earnings per share for the current fiscal year.

In other news, Director Claes Bjork bought 6,500 shares of the stock in a transaction on Tuesday, August 14th. The stock was acquired at an average price of $44.25 per share, with a total value of $287,625.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.00% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of GVA. Commonwealth Equity Services LLC acquired a new position in Granite Construction in the 1st quarter worth about $240,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in Granite Construction in the 2nd quarter worth about $245,000. LPL Financial LLC acquired a new position in Granite Construction in the 1st quarter worth about $270,000. Carnick & Kubik Group LLC acquired a new position in Granite Construction in the 3rd quarter worth about $283,000. Finally, Sei Investments Co. increased its holdings in Granite Construction by 40.0% in the 2nd quarter. Sei Investments Co. now owns 5,110 shares of the construction company’s stock worth $284,000 after purchasing an additional 1,460 shares in the last quarter. 95.87% of the stock is owned by institutional investors and hedge funds.

About Granite Construction

Granite Construction Incorporated operates as a heavy civil contractor and a construction materials producer in the United States. The company operates through three segments: Construction, Large Project Construction, and Construction Materials. The Construction segment undertakes various civil construction projects focusing on new construction and improvement of streets, roads, highways, bridges, site work, underground, power-related facilities, water-related facilities, utilities, and other infrastructure projects.

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Analyst Recommendations for Granite Construction (NYSE:GVA)

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