Granite Construction Inc. (NYSE:GVA) has been assigned an average rating of “Buy” from the nine brokerages that are currently covering the firm. Three research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $54.13.
A number of research analysts recently commented on GVA shares. DA Davidson reissued a “hold” rating and issued a $53.00 price target on shares of Granite Construction in a report on Tuesday, August 16th. Janney Montgomery Scott reissued a “hold” rating and issued a $53.00 price target on shares of Granite Construction in a report on Tuesday, August 16th. FBR & Co increased their price target on Granite Construction from $48.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, August 2nd. MKM Partners increased their price target on Granite Construction from $55.00 to $56.00 and gave the company a “buy” rating in a report on Monday, August 1st. Finally, Seaport Global Securities raised Granite Construction from a “neutral” rating to a “buy” rating and increased their price target for the company from $49.00 to $60.00 in a report on Monday, August 1st.
Granite Construction (NYSE:GVA) traded down 0.29% on Friday, reaching $61.12. The company’s stock had a trading volume of 202,173 shares. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of 35.58 and a beta of 1.42. Granite Construction has a 52 week low of $35.69 and a 52 week high of $62.18. The firm’s 50 day moving average price is $49.70 and its 200-day moving average price is $47.38.
Granite Construction (NYSE:GVA) last issued its earnings results on Friday, October 28th. The company reported $0.92 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.98 by $0.06. Granite Construction had a return on equity of 7.85% and a net margin of 2.77%. The company earned $803.90 million during the quarter, compared to analysts’ expectations of $826.52 million. During the same period in the previous year, the company earned $0.77 EPS. Granite Construction’s quarterly revenue was up 7.0% on a year-over-year basis. On average, equities analysts predict that Granite Construction will post $1.53 EPS for the current year.
In other Granite Construction news, Director James Hildebrand Roberts sold 4,175 shares of the stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $52.00, for a total transaction of $217,100.00. Following the transaction, the director now owns 41,095 shares of the company’s stock, valued at approximately $2,136,940. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Michael Francis Donnino sold 5,000 shares of the stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $58.06, for a total value of $290,300.00. Following the sale, the insider now owns 57,280 shares in the company, valued at $3,325,676.80. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Cutler Group LP bought a new stake in shares of Granite Construction during the first quarter worth $100,000. LS Investment Advisors LLC boosted its stake in shares of Granite Construction by 76.1% in the second quarter. LS Investment Advisors LLC now owns 2,453 shares of the company’s stock worth $112,000 after buying an additional 1,060 shares during the last quarter. Advisor Group Inc. bought a new stake in shares of Granite Construction during the second quarter worth $169,000. Barclays PLC boosted its stake in shares of Granite Construction by 578.8% in the second quarter. Barclays PLC now owns 3,808 shares of the company’s stock worth $174,000 after buying an additional 3,247 shares during the last quarter. Finally, ELM Advisors LLC bought a new stake in shares of Granite Construction during the third quarter worth $201,000. Institutional investors and hedge funds own 90.77% of the company’s stock.