Craig Hallum Cuts Southland (NASDAQ:SLND) Price Target to $5.00

Southland (NASDAQ:SLND) had its price objective lowered by equities researchers at Craig Hallum from $9.00 to $5.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Craig Hallum’s price target would indicate a potential upside of 79.86% from the stock’s current price.

Southland Stock Up 11.2 %

Southland stock traded up $0.28 during mid-day trading on Thursday, hitting $2.78. The company’s stock had a trading volume of 40,231 shares, compared to its average volume of 43,668. Southland has a 52-week low of $1.85 and a 52-week high of $6.16. The firm’s 50 day moving average is $3.50 and its 200 day moving average is $4.13. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.27 and a quick ratio of 1.27. The company has a market cap of $133.75 million, a PE ratio of -1.25 and a beta of 0.76.

Southland (NASDAQ:SLND) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($1.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($1.05). The business had revenue of $173.32 million for the quarter. Southland had a negative net margin of 10.38% and a negative return on equity of 43.46%.

Institutional Trading of Southland

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Kennedy Capital Management LLC raised its holdings in Southland by 62.9% in the 1st quarter. Kennedy Capital Management LLC now owns 71,781 shares of the company’s stock valued at $370,000 after acquiring an additional 27,713 shares in the last quarter. Raymond James Trust N.A. bought a new position in shares of Southland during the 2nd quarter worth about $6,813,000. Bank of New York Mellon Corp acquired a new position in Southland in the second quarter worth about $99,000. Rhumbline Advisers lifted its stake in Southland by 125.3% during the second quarter. Rhumbline Advisers now owns 9,209 shares of the company’s stock worth $42,000 after purchasing an additional 5,122 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of Southland by 111.8% in the 2nd quarter. Renaissance Technologies LLC now owns 32,200 shares of the company’s stock worth $147,000 after buying an additional 16,999 shares in the last quarter. 2.85% of the stock is currently owned by institutional investors and hedge funds.

Southland Company Profile

Southland Holdings, Inc engages in specialty infrastructure construction business in North America and internationally. The company operates through two segments, Civil and Transportation. The Civil segment designs and constructs water pipelines, pump stations, lift stations, water and wastewater treatment plants, concrete and structural steel, outfall, and tunneling.