ValuEngine downgraded shares of Granite Construction (NYSE:GVA) from a hold rating to a sell rating in a research report report published on Thursday morning, ValuEngine reports.

Other equities research analysts also recently issued research reports about the company. Zacks Investment Research downgraded EXACT Sciences from a hold rating to a sell rating in a report on Tuesday, July 2nd. B. Riley reissued a buy rating on shares of Insight Enterprises in a report on Monday, April 29th. Goldman Sachs Group raised Koninklijke KPN from a neutral rating to a buy rating in a report on Wednesday, May 29th. Finally, MKM Partners set a $61.00 target price on Granite Construction and gave the stock a buy rating in a report on Friday, March 22nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $59.00.

GVA opened at $43.38 on Thursday. Granite Construction has a fifty-two week low of $38.55 and a fifty-two week high of $58.93. The company has a quick ratio of 1.97, a current ratio of 2.12 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $2.03 billion, a P/E ratio of 24.37, a P/E/G ratio of 2.19 and a beta of 1.34. The stock’s fifty day moving average price is $43.83.

Granite Construction (NYSE:GVA) last posted its earnings results on Friday, April 26th. The construction company reported ($0.57) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.35). Granite Construction had a return on equity of 6.03% and a net margin of 0.57%. The firm had revenue of $619.80 million for the quarter, compared to analyst estimates of $644.46 million. During the same period in the prior year, the business posted ($0.13) EPS. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. As a group, sell-side analysts expect that Granite Construction will post 2.83 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend is Thursday, June 27th. Granite Construction’s payout ratio is currently 22.22%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its position in shares of Granite Construction by 6.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,664,608 shares of the construction company’s stock worth $107,330,000 after purchasing an additional 156,499 shares during the period. Texas Permanent School Fund increased its position in shares of Granite Construction by 3.3% in the first quarter. Texas Permanent School Fund now owns 31,698 shares of the construction company’s stock worth $1,368,000 after purchasing an additional 1,009 shares during the period. Amundi Pioneer Asset Management Inc. increased its position in shares of Granite Construction by 18.2% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 722,905 shares of the construction company’s stock worth $31,194,000 after purchasing an additional 111,381 shares during the period. Stevens Capital Management LP bought a new position in shares of Granite Construction in the first quarter worth $1,239,000. Finally, NumerixS Investment Technologies Inc bought a new position in shares of Granite Construction in the fourth quarter worth $48,000. Institutional investors own 98.60% of the company’s stock.

Granite Construction Company Profile

Granite Construction Incorporated operates as an infrastructure contractor and a construction materials producer in the United States. The company operates through Transportation, Water, Specialty, and Materials segments. The Transportation segment engages in the construction and rehabilitation of roads, pavement preservation, bridges, rail lines, airports, and marine ports.

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Analyst Recommendations for Granite Construction (NYSE:GVA)

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