Worth Watching: What’s in Sterling Construction Company, Inc. After Touching 52-Week High?

Worth Watching: What's in Sterling Construction Company, Inc. After Touching 52 Week High?

The stock of Sterling Construction Company, Inc. (NASDAQ:STRL) hit a new 52-week high and has $9.27 target or 9.00% above today’s $8.50 share price. The 6 months bullish chart indicates low risk for the $218.97 million company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $9.27 price target is reached, the company will be worth $19.71M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 4.29% or $0.35 on November 28, hitting $8.5. About 456,564 shares traded hands or 115.72% up from the average. Sterling Construction Company, Inc. (NASDAQ:STRL) has risen 70.15% since April 25, 2016 and is uptrending. It has outperformed by 64.13% the S&P500.

Analysts await Sterling Construction Company, Inc. (NASDAQ:STRL) to report earnings on March, 13.

Sterling Construction Company, Inc. (NASDAQ:STRL) Ratings Coverage

Out of 3 analysts covering Sterling Construction (NASDAQ:STRL), 2 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 67% are positive. Sterling Construction has been the topic of 5 analyst reports since August 12, 2015 according to StockzIntelligence Inc. As per Tuesday, May 3, the company rating was downgraded by BWS Financial. DA Davidson upgraded the stock to “Buy” rating in Monday, May 9 report.

According to Zacks Investment Research, “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.”

Insitutional Activity: The institutional sentiment decreased to 1.4 in Q2 2016. Its down 0.90, from 2.3 in 2016Q1. The ratio worsened, as 7 funds sold all Sterling Construction Company, Inc. shares owned while 13 reduced positions. 20 funds bought stakes while 26 increased positions. They now own 16.06 million shares or 28.48% more from 12.50 million shares in 2016Q1.
Balyasny Asset Management Limited Liability Corporation last reported 0% of its portfolio in the stock. Walleye Trading Ltd owns 7,900 shares or 0% of their US portfolio. Carroll last reported 0% of its portfolio in the stock. Eam Ltd Liability Co owns 341,337 shares or 0.25% of their US portfolio. Argent Mgmt holds 248,025 shares or 0.05% of its portfolio. Signia Capital Management Ltd holds 7.79% or 500,548 shares in its portfolio. Springbok Capital Mngmt Ltd Llc holds 0.01% of its portfolio in Sterling Construction Company, Inc. (NASDAQ:STRL) for 14,485 shares. Ladenburg Thalmann Svcs Inc owns 3 shares or 0% of their US portfolio. Advisory holds 0% of its portfolio in Sterling Construction Company, Inc. (NASDAQ:STRL) for 40,200 shares. Goldman Sachs Gru holds 24,460 shares or 0% of its portfolio. Deutsche State Bank Ag has 7,003 shares for 0% of their US portfolio. Ajo Ltd Partnership, a Pennsylvania-based fund reported 35,506 shares. Foundry Prtnrs holds 0.17% of its portfolio in Sterling Construction Company, Inc. (NASDAQ:STRL) for 610,925 shares. Blackrock Institutional Trust Company Na has 476,706 shares for 0% of their US portfolio. Wellington Mngmt Llp, a Massachusetts-based fund reported 855,123 shares.

More notable recent Sterling Construction Company, Inc. (NASDAQ:STRL) news were published by: Marketwatch.com which released: “Sterling Construction upgraded to buy from neutral at DA Davidson & Co.” on December 04, 2009, also Businesswire.com with their article: “Sterling Construction Company, Inc. Reports 2016 Second Quarter Results” published on August 01, 2016, Businesswire.com published: “Sterling Construction Company, Inc. Announces Closing of Common Stock Offering” on May 09, 2016. More interesting news about Sterling Construction Company, Inc. (NASDAQ:STRL) were released by: Businesswire.com and their article: “Sterling Construction Company, Inc. Awarded $21.5 Million Colorado Department …” published on August 15, 2016 as well as Seekingalpha.com‘s news article titled: “Sterling Construction: The Best Is Yet To Come” with publication date: September 15, 2016.

STRL Company Profile

Sterling Construction Company, Inc., incorporated on April 1, 1991, is a heavy civil construction firm 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. The Company’s water infrastructure projects include water, wastewater and storm drainage systems. The Firm operates through heavy civil construction segment. The Firm provides its services by using traditional general contracting arrangements, such as lump sum contracts and cost-plus contracts.

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