Sterling Infrastructure (NASDAQ:STRL) Shares Gap Down – What’s Next?

Sterling Infrastructure, Inc. (NASDAQ:STRL) shares gapped down prior to trading on Monday . The stock had previously closed at $121.37, but opened at $115.94. Sterling Infrastructure shares last traded at $117.79, with a volume of 56,937 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have commented on STRL. StockNews.com upgraded Sterling Infrastructure from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. DA Davidson upgraded Sterling Infrastructure from a “neutral” rating to a “buy” rating and set a $185.00 price target for the company in a research report on Thursday, February 27th. Finally, William Blair assumed coverage on Sterling Infrastructure in a research note on Friday, January 17th. They issued an “outperform” rating for the company.

Sterling Infrastructure Stock Performance

The stock has a market cap of $3.61 billion, a P/E ratio of 19.94, a price-to-earnings-growth ratio of 1.28 and a beta of 1.32. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41. The business has a 50 day moving average price of $142.42 and a two-hundred day moving average price of $155.73.

Hedge Funds Weigh In On Sterling Infrastructure

A number of hedge funds have recently made changes to their positions in STRL. Quarry LP boosted its stake in shares of Sterling Infrastructure by 510.7% in the third quarter. Quarry LP now owns 171 shares of the construction company’s stock worth $25,000 after acquiring an additional 143 shares during the period. Huntington National Bank boosted its stake in Sterling Infrastructure by 21,300.0% during the third quarter. Huntington National Bank now owns 214 shares of the construction company’s stock valued at $31,000 after buying an additional 213 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Sterling Infrastructure during the fourth quarter valued at approximately $39,000. National Bank of Canada FI bought a new position in Sterling Infrastructure during the fourth quarter valued at approximately $56,000. Finally, Arcadia Investment Management Corp MI bought a new position in Sterling Infrastructure during the fourth quarter valued at approximately $71,000. Institutional investors own 80.95% of the company’s stock.

Sterling Infrastructure Company Profile

Sterling Infrastructure, Inc engages in the provision of e-infrastructure, transportation, and building solutions primarily in the United States. It operates through three segments: E-Infrastructure Solutions, Transportation Solutions, and Building Solutions. The E-Infrastructure Solutions segment provides site development services for the blue-chip end users in the e-commerce distribution center, data center, manufacturing, warehousing, and power generation sectors.