Granite Construction (NYSE:GVA) Given New $50.00 Price Target at The Goldman Sachs Group

Granite Construction (NYSE:GVA) had its price objective boosted by research analysts at The Goldman Sachs Group from $44.00 to $50.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a “sell” rating on the construction company’s stock. The Goldman Sachs Group’s price target would indicate a potential downside of 7.08% from the company’s current price.

Separately, DA Davidson raised their price objective on Granite Construction from $60.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, February 27th.

Granite Construction Trading Down 0.9 %

Shares of GVA stock opened at $53.81 on Tuesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.49 and a current ratio of 1.60. Granite Construction has a fifty-two week low of $33.74 and a fifty-two week high of $57.93. The company has a market cap of $2.37 billion, a PE ratio of 70.80 and a beta of 1.46. The stock’s fifty day moving average price is $53.21 and its two-hundred day moving average price is $47.65.

Granite Construction (NYSE:GVA) last released its quarterly earnings data on Thursday, February 22nd. The construction company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.02). Granite Construction had a net margin of 1.24% and a return on equity of 14.15%. The firm had revenue of $933.70 million for the quarter. During the same quarter last year, the business posted $0.56 earnings per share. Equities analysts predict that Granite Construction will post 4.29 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Louis E. Caldera sold 1,263 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $50.00, for a total transaction of $63,150.00. Following the completion of the transaction, the director now directly owns 8,528 shares of the company’s stock, valued at approximately $426,400. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.54% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GVA. Exchange Traded Concepts LLC bought a new position in Granite Construction during the 3rd quarter worth $27,000. Belpointe Asset Management LLC raised its position in Granite Construction by 320.6% during the 1st quarter. Belpointe Asset Management LLC now owns 673 shares of the construction company’s stock worth $28,000 after purchasing an additional 513 shares during the last quarter. Envestnet Asset Management Inc. bought a new position in shares of Granite Construction in the 1st quarter worth about $38,000. GAMMA Investing LLC bought a new position in shares of Granite Construction in the 4th quarter worth about $43,000. Finally, Macquarie Group Ltd. bought a new position in shares of Granite Construction in the 1st quarter worth about $43,000.

Granite Construction Company Profile

Granite Construction Incorporated operates as an infrastructure contractor in the United States. It operates through two segments: Construction and Materials segments. The Construction segment engages in the construction and rehabilitation of roads, pavement preservation, bridges, rail lines, airports, marine ports, dams, reservoirs, aqueducts, infrastructure, and site development for use by the public and water-related construction for municipal agencies, commercial water suppliers, industrial facilities, and energy companies; and construction of various complex projects, including infrastructure/site development, mining, public safety, tunnel, solar storage, and power related projects.