Canaccord Genuity analyst Robert Burleson maintained a Buy rating on Sterling Construction (NASDAQ: STRL) yesterday and set a price target of $20. The company’s shares opened today at $15.31.
Burleson noted:
“We continue to believe that management’s three-year target of 50% of revenues coming from higher margin non-heavy highway civil work could prove conservative, particularly driven by a successful roll-out of Houston market, and expect the ongoing mix shift to drive significant bottom-line leverage moving forward. We maintain our BUY rating and $20 price target.”
According to TipRanks.com, Burleson is a 5-star analyst with an average return of 13.3% and a 59.9% success rate. Burleson covers the Consumer Goods sector, focusing on stocks such as IPG Photonics Corporation, Faro Technologies, and Nano Dimension.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Sterling Construction with a $20 average price target.
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Based on Sterling Construction’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $8.18 million. In comparison, last year the company had a net profit of $3.66 million.
Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is negative on the stock.
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Sterling Construction Co., Inc. is a heavy civil construction company, which specializes in the building, reconstruction and repair of transportation and water infrastructure projects. Its transportation infrastructure projects include highways, roads, bridges, airfields, ports and light rail.
