Why Has Stifel Given Granite Constr (NYSE:GVA) a $50 Price Target
Professional analysts at Stifel initiated coverage on Granite Constr (NYSE:GVA) with a key “Buy” rating. The PT for GVA is set to $50. It may suggest a possible upside of 22.61% from firm’s current stock price.
From a total of 10 analysts covering Granite Constr (NYSE:GVA) stock, 5 rate it a ”Buy”, 0 a “Sell”, and 4 a ”Hold”. This means that 56% of the ratings are positive. The highest target price is $50 while the lowest target price is $34. The mean of all analyst targets is $43 with a 17.70% above today’s ($40.78) stock price. Granite Constr was the topic of 2 analyst reports since November 24, 2015 according to the firm StockzIntelligence Inc. Cowen & Co maintained shares on December 2 with “Outperform” rating.
The stock closed the day at $40.78 during the previous session. It is down 8.60% since May 6, 2015 and is uptrending. It has outperformed by 9.40% the S&P500.
The overall sentiment of institutions has increased to 1.51 in Q2 2015. Its up 0.31, from 1.2 in 2015Q2. The ratio increased, as 14 institutions have sold all the shares of Granite Construction Inc. that they owned while 49 funds have taken shares off the table. 22 funds have purchased shares for the first time while 73 added to their positions. These institutions now hold 44.04 million shares or 26.20% more than the 34.89 million shares they owned in 2015Q2.
The Fund Morgan Dempsey Capital Management Llc currently is holding shares equating to 3.76% of its total portfolio in Granite Construction Inc. representing a total of 357,785 shares. Another fund,Rutabaga Capital Management Llc Ma, is holding a total of 750,062 shares equating to 2.74% of their holdings. Additionally, John G Ullman & Associates Inc has a 274,387 share stake in Granite Construction Inc. which represents 1.83% of their total portfolio. The Fund, Skyline Asset Management Lp, based out of Illinois, has also built up a stake in the stock, which represents a total of 1.64% of their total portfolio. Finally Heartland Advisors Inc, a fund which is based in the state of Wisconsin reported a total holdings of 1.45 million shares.
Insider activity is a very important aspect to track on any stock. Going back to March 5, 2015, shareholders of Granite Construction Inc. have witnessed 0 buys, and a total of 1 sale equating to a net activity of approximately $704,276 . Mcdonald Rebecca Ann sold 20,714 shares worth approximately $704,276. Roberts James Hildebrand sold 1,772 shares worth approximately $66,273. Powell William Howard sold 12,000 shares worth approximately $451,575. Donnino Michael Francis sold 5,000 shares worth approximately $191,122. The company insider Kelsey David H sold 1,848 shares worth $70,602.
Granite Construction Incorporated is a heavy civil contractors and construction materials producer in the United States. The company has a market cap of $1.61 billion. The Firm operates through divisions, including Construction, Large Project Construction and Construction Materials. It has 33.42 P/E ratio. The Firm operates across the nation, serving both public and private sector clients.
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.” Get a free copy of the Zacks research report on Granite Construction Inc. (GVA).