In a report released yesterday, Alex Rygiel from B.Riley FBR reiterated a Buy rating on Granite Construction Inc (NYSE: GVA), with a price target of $63. The company’s shares opened today at $46.29, close to its 52-week low of $45.51.
According to TipRanks.com, Rygiel is a 5-star analyst with an average return of 13.4% and a 64.0% success rate. Rygiel covers the Basic Materials sector, focusing on stocks such as Tutor Perini Corp, Quanta Services, and MYR Group.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Granite Construction Inc with a $67.33 average price target, representing a 45.5% upside. In a report released today, Canaccord Genuity also maintained a Buy rating on the stock with a $65 price target.
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Granite Construction Inc’s market cap is currently $1.85B and has a P/E ratio of 22.97. The company has a Price to Book ratio of 2.02.
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Granite Construction, Inc. is a holding company, which engages in the provision of infrastructure solutions for public and private clients. It operates through the following segments: Construction, Large Project Construction, and Construction Materials.
