Market Overview

UPDATE: D.A. Davidson Downgrades Sterling Construction Company Following 3Q EPS Loss


In a report published Tuesday, D.A. Davidson analyst John B. Rogers downgraded the rating on Sterling Construction Company, Inc. (NASDAQ: STRL) from Buy to Neutral, and lowered the price target from $10.00 to $9.00.

In the report, D.A. Davidson noted, “Sterling Construction reported a loss of $0.03 per share for the third quarter, up from a loss of $0.06 last year. As indicated, these results were substantially below our estimate due to additional charges on three problem projects, which impacted gross margins...Management reported the company incurred $3.5 million (approximately $0.19 per share) of additional charges on three projects that are in the final stages of completion. The charges relate to issues with subcontractors and other factors in Texas and California. Management is seeking recoveries for the added costs, but prospects are uncertain.”

Sterling Construction Company closed on Monday at $8.54.

Latest Ratings for STRL

Aug 2017MaintainsBuy
Feb 2017DowngradesOverweightSector Weight
Jan 2017Initiates Coverage OnBuy

View More Analyst Ratings for STRL
View the Latest Analyst Ratings

Posted-In: D.A. Davidson John B. RogersAnalyst Color Downgrades Analyst Ratings


Related Articles (STRL)

View Comments and Join the Discussion!

Latest Ratings

PNRJefferiesInitiates Coverage On
IPHIBank of AmericaMaintains80.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at

UPDATE: Wunderlich Securities Reiterates On Resolute Energy As Stock Remains Asset Rich But Cash Poor

Rite Aid And Physician Direct ACO Partner To Expand Rite Aid Health Alliance Program