Granite Construction Inc. (NYSE:GVA) Receives $56.00 Average Target Price from Analysts

Granite Construction Inc. (NYSE:GVA) has been given an average recommendation of “Hold” by the eight analysts that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $56.00.

Several research firms recently commented on GVA. ValuEngine upgraded shares of Granite Construction from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. B. Riley downgraded shares of Granite Construction from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $53.00 to $41.00 in a research report on Tuesday, July 30th. Zacks Investment Research downgraded shares of Granite Construction from a “hold” rating to a “strong sell” rating in a research report on Friday. Finally, Goldman Sachs Group upgraded shares of Granite Construction from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $50.00 to $53.00 in a research report on Wednesday, May 29th.

Several institutional investors have recently added to or reduced their stakes in GVA. Strs Ohio bought a new stake in shares of Granite Construction in the 2nd quarter worth $52,000. Tompkins Financial Corp grew its holdings in Granite Construction by 47.8% during the first quarter. Tompkins Financial Corp now owns 1,700 shares of the construction company’s stock worth $73,000 after acquiring an additional 550 shares during the period. NumerixS Investment Technologies Inc grew its holdings in Granite Construction by 166.0% in the first quarter. NumerixS Investment Technologies Inc now owns 3,200 shares of the construction company’s stock valued at $138,000 after purchasing an additional 1,997 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in Granite Construction by 161.2% in the second quarter. DekaBank Deutsche Girozentrale now owns 3,824 shares of the construction company’s stock valued at $180,000 after purchasing an additional 2,360 shares during the period. Finally, Golden State Wealth Management LLC acquired a new stake in Granite Construction in the first quarter valued at approximately $206,000. Institutional investors own 98.53% of the company’s stock.

Shares of NYSE GVA traded down $0.34 during mid-day trading on Friday, reaching $30.20. 16,258 shares of the company were exchanged, compared to its average volume of 636,660. The firm’s 50-day moving average is $43.18. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.12 and a quick ratio of 1.97. The company has a market capitalization of $1.46 billion, a PE ratio of 12.85, a P/E/G ratio of 2.44 and a beta of 1.30. Granite Construction has a twelve month low of $30.19 and a twelve month high of $58.93.

Granite Construction (NYSE:GVA) last announced its quarterly earnings results on Friday, August 2nd. The construction company reported ($1.83) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.04) by $0.21. The company had revenue of $789.54 million for the quarter, compared to analyst estimates of $789.73 million. Granite Construction had a negative net margin of 2.09% and a negative return on equity of 1.53%. The firm’s revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.44 EPS. As a group, analysts expect that Granite Construction will post 1.83 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a $0.13 dividend. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.72%. Granite Construction’s dividend payout ratio (DPR) is currently 22.22%.

About Granite Construction

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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