Granite Construction Incorporated (NYSE:GVA) currently has a daily average trading volume of 405.43K but it saw 895877 shares traded on Wednesday. With a market cap of 1.62B USD, stock’s current market price of $36.57 came falling about -1.75 while comparing to the previous closing price of $37.22. In past 52 weeks, the stock remained buoying in the range of price level as high as $44.15 and as low as $25.35. In the recent trading on the day, stock has struck highest price mark of $37.25 while lowest mark touched by it was $36.18.
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Taking a look at 20-day trading activity of Granite Construction Incorporated (GVA) gives us an average price of $36.92, while its current price level is -17.17% below from 52-week high level whereas it is 44.26% above from lowest level seen by the stock during that period. Simple moving average of 50 days or SMA-50 of the stock’s closing price is $38.39 while that of 200 days or SMA-200 reads an average of $35.49. A closer look into the stock’s movement over the week reveals that its volatility is standing at 2.54% during that period while stretching the period over a month that increases to 3.10%. It is also necessary to take a look into other indicators of a stock too, to get a better idea about its price movement. And in doing so, we find stock’s 14-day relative strength index (RSI) standing at 43.97 which implies that the stock is in neutral territory.
Granite Construction Incorporated (GVA)’s stock is currently under the radar of 4 analysts who are in consensus at a 12-month price target range of between $39.00 and $57.00 for company’s shares. The average price target assigned by the average number of analysts to a stock is a way to gauge worth of any stock in next 52 weeks. And in assigning price target to a stock, some analysts adopt a bearish approach by advocating lower-than-average price target which in this case is $39.00 while some adopt bullish approach by assigning higher-than-average price target which reads the price to top $57.00. Average price target assigned by them is $51.40 which highlights an upside potential of 28.85% for the stock over that period. And to attain the median price target of $55.00 assigned by those analysts, stock has to add about 33.51% of value to its current levels.
Data by FactSet Research shows that 4 analysts have issued their ratings for the stock. 1 of them are in opinions that stock is a Sell, while 0 are advising it as an Overweight. 3 analysts suggested the investors to Buy the stock while 0 advised them to Hold. Recommendations by all of those brokerages imply a consensus rating of Overweight for the stock and that issued by Wall Street to investors is Moderate Buy.
Over the week, GVA’s stock price is moving -1.83% down while it is -2.77% when we observe its performance for the past one month. Year-to-date it is 4.28% up and over the past year, the stock is showing an upside performance of 13.29%.
The latest quarterly earnings report issued by the company was for quarter ended 3/30/2023, when its quarterly earnings per share (EPS) of -$0.41 beaten by the consensus estimate of $0.02 for the same. For GVA, analysts are forecasting an EPS-growth rate of 26.00% for current year and estimate for EPS growth in next year is 44.70%. In next quarter, company is expected to be making quarterly sales of $1.1 billion as analysts are expecting the sales for current fiscal year at $3.43 billion and seeing the company making $3.61 billion in sales next year. Moreover, analysts are in estimates of $924.09 million for current-quarter revenue.
Currently, Granite Construction Incorporated’s total number of outstanding shares is 43.76M. Company’s return on investment (ROI) stands at 5.80% and return on equity (ROE) at 7.90%. It has a price to earnings ratio (P/E ratio) of 31.36 while having a 8.69 of forward P/E ratio. Stock’s beta reads 1.39. Stock has a price to book (P/B) ratio of 1.73 while price to sale or P/S ratio amounts to 0.52. Its return on asset (ROA) is 3.30% on average.
A filing at the U.S. Securities and Exchange Commission revealed that iShares Core S&P Small Cap ETF came shrinking its share ownership by -0.14% in the Granite Construction Incorporated (GVA) decreasing its stake to 7.26% with control over 4556.0 shares in the company. As per SEC documents, iShares Core S&P Small Cap ETF shunned 3,175,703 of company’s common stock of worth $121.09 million as per recent closing price of the stock. iShares Core S&P Small Cap ETF is not the only institutional holder which restructured its stake in Granite Construction Incorporated, as Undiscovered Managers Behavioral dumped 2,366,181 shares of worth $90.22 million to bring its holdings to a total of 15600.0 shares. In the most recent quarter, Vanguard Total Stock Market ETF came rising its stake by 0.06% in the company and now holds 1.35 million or 3.08% of the company’s stake having worth of about 51.3 million.
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