The stock of Granite Construction Inc. (NYSE:GVA) is a huge mover today! The stock decreased 2.73% or $1.36 during the last trading session, hitting $48.38. About 177,634 shares traded hands. Granite Construction Inc. (NYSE:GVA) has risen 15.74% since March 1, 2016 and is uptrending. It has outperformed by 3.53% the S&P500.
The move comes after 9 months negative chart setup for the $1.97B company. It was reported on Oct, 4 by Barchart.com. We have $45.48 PT which if reached, will make NYSE:GVA worth $118.20 million less.
Analysts await Granite Construction Inc. (NYSE:GVA) to report earnings on November, 7. They expect $0.98 EPS, up 27.27% or $0.21 from last year’s $0.77 per share. GVA’s profit will be $39.90 million for 12.34 P/E if the $0.98 EPS becomes a reality. After $0.35 actual EPS reported by Granite Construction Inc. for the previous quarter, Wall Street now forecasts 180.00% EPS growth.
Granite Construction Inc. (NYSE:GVA) Ratings Coverage
Out of 5 analysts covering Granite Constr (NYSE:GVA), 5 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Granite Constr has been the topic of 8 analyst reports since November 24, 2015 according to StockzIntelligence Inc. The company was initiated on Wednesday, December 9 by Stifel Nicolaus. Cowen & Co initiated Granite Construction Inc. (NYSE:GVA) on Thursday, April 14 with “Outperform” rating. FBR Capital upgraded Granite Construction Inc. (NYSE:GVA) on Friday, December 11 to “Outperform” rating. On Wednesday, December 2 the stock rating was maintained by Cowen & Co with “Outperform”. The rating was maintained by M Partners on Tuesday, August 2 with “Buy”. The stock of Granite Construction Inc. (NYSE:GVA) earned “Buy” rating by M Partners on Wednesday, June 29. The rating was initiated by Maxim Group with “Buy” on Tuesday, November 24. The firm earned “Outperform” rating on Tuesday, August 2 by FBR Capital.
According to Zacks Investment Research, “Granite Construction, Inc. is a diversified heavy civil constractor and construction materials producer. The Company concentrates on ifrastructure projects including roads, bridges, dams, tunnels, canals and rapid transit facilities. The Company also manufactures asphalt, concrete base rock and other construction materials. The Company has offices in Arizona, Nevada, Utah, Texas, Georgia and California.”
Insitutional Activity: The institutional sentiment decreased to 1.3 in Q2 2016. Its down 0.30, from 1.6 in 2016Q1. The ratio dropped, as 14 funds sold all Granite Construction Inc. shares owned while 62 reduced positions. 28 funds bought stakes while 71 increased positions. They now own 35.44 million shares or 2.55% less from 36.36 million shares in 2016Q1.
Comerica Comml Bank last reported 0.05% of its portfolio in the stock. Pub Employees Retirement Association Of Colorado holds 9,178 shares or 0% of its portfolio. Morgan Dempsey Ltd Llc, a Wisconsin-based fund reported 250,371 shares. The Pennsylvania-based Pnc Fin has invested 0% in Granite Construction Inc. (NYSE:GVA). Mufg Americas Holdg Corp holds 150 shares or 0% of its portfolio. Boston Prtn has 622,510 shares for 0.04% of their US portfolio. Vanguard Group Incorporated has 0.01% invested in the company for 2.88M shares. Envestnet Asset Incorporated accumulated 5,122 shares or 0% of the stock. Federated Invsts Pa, a Pennsylvania-based fund reported 12,812 shares. Tributary Limited Com accumulated 1.48% or 222,890 shares. Tiaa Cref Inv Limited Liability Corporation owns 121,267 shares or 0% of their US portfolio. The Maryland-based Price T Rowe Associate Md has invested 0% in Granite Construction Inc. (NYSE:GVA). Rutabaga Capital Ltd Limited Liability Company Ma holds 331,589 shares or 2.82% of its portfolio. Kistler holds 0% of its portfolio in Granite Construction Inc. (NYSE:GVA) for 8 shares. Frontier Cap Mgmt Co Limited Liability holds 0.23% of its portfolio in Granite Construction Inc. (NYSE:GVA) for 626,910 shares.
Insider Transactions: Since April 8, 2016, the stock had 0 insider purchases, and 5 insider sales for $1.89 million net activity. Shares for $647,700 were sold by DOREY WILLIAM GLENWOOD. Shares for $432,590 were sold by Donnino Michael Francis on Friday, April 8. On Wednesday, May 25 the insider Roberts James Hildebrand sold $423,311. KELSEY DAVID H sold 1,113 shares worth $56,867.
More notable recent Granite Construction Inc. (NYSE:GVA) news were published by: Marketwatch.com which released: “/quotes/zigman/3870025/realtime” on January 18, 2011, also Businesswire.com with their article: “Granite Awarded $875 Million Joint Venture Design-Build Transit Project in Hawaii” published on September 26, 2016, Fool.com published: “Granite Construction Inc. Poised to Benefit From FAST Act” on January 14, 2016. More interesting news about Granite Construction Inc. (NYSE:GVA) were released by: Santacruzsentinel.com and their article: “Business Digest, July 30, 2016: Granite Construction awarded Fresno project” published on July 29, 2016 as well as Nasdaq.com‘s news article titled: “Ex-Dividend Reminder: Xerox, Windstream Holdings and Granite Construction” with publication date: September 26, 2016.
GVA Company Profile
Granite Construction Incorporated, incorporated on January 24, 1990, is a heavy civil contractor and construction materials producer in the United States. The Firm operates through three divisions: Construction, Large Project Construction and Construction Materials. The Firm operates across the nation, serving both public and private sector clients. Within the public sector, it concentrates on heavy-civil infrastructure projects, including the construction of streets, roads, highways, mass transit facilities, airport infrastructure, bridges, trenchless and underground utilities, power-related facilities, water and wastewater facilities, utilities, tunnels, dams and other infrastructure-related projects. Within the private sector, the Company offers site preparation and infrastructure services for residential development, energy development, commercial and industrial sites, and other facilities, as well as provides construction management professional services.
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