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UPDATE: D.A. Davidson Reiterates Neutral Rating, Lowers PT on Sterling Construction Company

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In a report published Monday, D.A. Davidson & Co. reiterated its Neutral rating on Sterling Construction Company (NASDAQ: STRL), but slightly lowered its price target from $11.00 to $10.00.

D.A. Davidson noted, “Under the new CEO, the company has imposed more extensive cost and project review systems which are intended to improve biding and operating practices. Additionally, the company is targeting an improvement in market tracking which should yield higher margin project opportunities. The company has also sold off excess equipment to reflect market activity levels. The company has also pursued minority roles on larger projects, which are typically less competitive and offer higher margins.”

Sterling Construction Company closed on Friday at $8.75.

Latest Ratings for STRL

DateFirmActionFromTo
Feb 2017KeyBancDowngradesOverweightSector Weight
Jan 2017Canaccord GenuityInitiates Coverage OnBuy
Oct 2016DA DavidsonDowngradesBuyNeutral

View More Analyst Ratings for STRL
View the Latest Analyst Ratings

Posted-In: D.A. Davidson & Co.Analyst Color Price Target Analyst Ratings

 

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