Granite Construction Incorporated [GVA] Revenue clocked in at $3.39 billion, down -14.46% YTD: What’s Next?

Granite Construction Incorporated [NYSE: GVA] gained 17.76% or 3.57 points to close at $23.67 with a heavy trading volume of 1615451 shares. The company report on November 10, 2020 that Granite Provides Business Update and Third Quarter 2020 Preliminary Select Financial Information.

Announces Q3 2020 CAP(1) of $4.2 billion.

Company to file Form 12b-25 for Q3 Quarterly Report on Form 10-Q.

It opened the trading session at $20.47, the shares rose to $23.77 and dropped to $20.30, the range by which the price of stock traded the whole day. The daily chart for GVA points out that the company has recorded 72.77% gains over the past six months. However, it is still -165.96% lower than its most recent low trading price.

If we look at the average trading volume of 364.10K shares, GVA reached to a volume of 1615451 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Granite Construction Incorporated [GVA]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GVA shares is $17.75 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GVA stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Goldman have made an estimate for Granite Construction Incorporated shares, keeping their opinion on the stock as Sell, with their previous recommendation back on January 13, 2020. While these analysts kept the previous recommendation, DA Davidson dropped their target price from $45 to $30. The new note on the price target was released on October 28, 2019, representing the official price target for Granite Construction Incorporated stock. Previously, the target price had yet another drop from $50 to $31, while Goldman kept a Neutral rating on GVA stock. On July 30, 2019, analysts decreased their price target for GVA shares from 53 to 41.

The Average True Range (ATR) for Granite Construction Incorporated is set at 1.31, with the Price to Sales ratio for GVA stock in the period of the last 12 months amounting to 0.33. The Price to Book ratio for the last quarter was 0.91.

Trading performance analysis for GVA stock

Granite Construction Incorporated [GVA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 15.97. With this latest performance, GVA shares gained by 16.60% in over the last four-week period, additionally plugging by 72.77% over the last 6 months – not to mention a drop of -13.99% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GVA stock in for the last two-week period is set at 70.61, with the RSI for the last a single of trading hit 75.02, and the three-weeks RSI is set at 66.95 for Granite Construction Incorporated [GVA]. The present Moving Average for the last 50 days of trading for this stock 18.89, while it was recorded at 20.46 for the last single week of trading, and 18.54 for the last 200 days.

Granite Construction Incorporated [GVA]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Granite Construction Incorporated [GVA] shares currently have an operating margin of +3.51 and a Gross Margin at +11.73. Granite Construction Incorporated’s Net Margin is presently recorded at +1.28.

Return on Total Capital for GVA is now 7.77, given the latest momentum, and Return on Invested Capital for the company is 3.02. Return on Equity for this stock inclined to 3.69, with Return on Assets sitting at 1.94. When it comes to the capital structure of this company, Granite Construction Incorporated [GVA] has a Total Debt to Total Equity ratio set at 28.29. Additionally, GVA Total Debt to Total Capital is recorded at 22.05, with Total Debt to Total Assets ending up at 15.44. Long-Term Debt to Equity for the company is recorded at 24.79, with the Long-Term Debt to Total Capital now at 19.33.

Reflecting on the efficiency of the workforce at the company, Granite Construction Incorporated [GVA] managed to generate an average of $7,440 per employee. Receivables Turnover for the company is 5.20 with a Total Asset Turnover recorded at a value of 1.52.

Granite Construction Incorporated [GVA]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Granite Construction Incorporated posted 0.14/share EPS, while the average EPS was predicted by analysts to be reported at 0.98/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -85.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for GVA. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Granite Construction Incorporated go to 7.00%.

An analysis of insider ownership at Granite Construction Incorporated [GVA]

There are presently around $1,100 million, in the hands of institutional investors. The top three institutional holders of GVA stocks are: BLACKROCK INC. with ownership of 6,945,127, which is approximately -1.828% of the company’s market cap and around 1.05% of the total institutional ownership; FMR LLC, holding 5,881,136 shares of the stock with an approximate value of $139.21 million in GVA stocks shares; and VANGUARD GROUP INC, currently with $120.14 million in GVA stock with ownership of nearly 0.96% of the company’s market capitalization.

Positions in Granite Construction Incorporated stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 66 institutional holders increased their position in Granite Construction Incorporated [NYSE:GVA] by around 2,088,297 shares. Additionally, 94 investors decreased positions by around 4,380,533 shares, while 34 investors held positions by with 40,005,308 shares. The mentioned changes placed institutional holdings at 46,474,138 shares, according to the latest SEC report filing. GVA stock had 14 new institutional investments in for a total of 142,821 shares, while 28 institutional investors sold positions of 739,447 shares during the same period.

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