Granite Construction (GVA) is Upgraded by Seaport Global Securities to Buy, Raises Price Target to $ 60

Granite Construction (GVA) was Upgraded by Seaport Global Securities to ” Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 60 from a previous price target of $49 . Earlier the firm had a rating of “Neutral ” on the company shares. Seaport Global Securities advised their investors in a research report released on Aug 1, 2016.

Many Wall Street Analysts have commented on Granite Construction. Company shares were Reiterated by MKM Partners on Jul 19, 2016 to “Buy”, Firm has raised the Price Target to $ 55 from a previous price target of $51 .Granite Construction was Initiated by MKM Partners to “Buy” on Jun 29, 2016.

On the company’s financial health, Granite Construction reported $0.35 EPS for the quarter, missing the analyst consensus estimate by $ -0.10 based on the information available during the earnings call on Jul 29, 2016. Analyst had a consensus of $0.45. The company had revenue of $604.60 million for the quarter, compared to analysts expectations of $632.12 million. The company’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 EPS.

Granite Construction closed down -0.96 points or -1.89% at $49.78 with 6,71,763 shares getting traded on Friday. Post opening the session at $49.12, the shares hit an intraday low of $47.23 and an intraday high of $50.817 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Jun 7, 2016, William Glenwood Dorey (director) sold 15,000 shares at $43.18 per share price. According to the SEC, on Jun 1, 2016, James Hildebrand Roberts (Director, President & CEO) sold 2,830 shares at $43.09 per share price. On May 6, 2016, Michael Francis Donnino (Senior Vice President) sold 10,000 shares at $43.26 per share price, according to the Form-4 filing with the securities and exchange commission.

Granite Construction Incorporated (Granite) is a heavy civil contractors and construction materials producer in the United States. The Company operates through segments including Construction Large Project Construction and Construction Materials. The Company operates across the nation serving both public and private sector clients. Within the public sector it concentrates on heavy-civil infrastructure projects including the construction of streets roads highways mass transit facilities airport infrastructure bridges trenchless and underground utilities power-related facilities utilities tunnels dams and other infrastructure-related projects. Within the private sector the Company offers site preparation and infrastructure services for residential development energy development commercial and industrial sites and other facilities as well as provides construction management professional services.

Granite Construction

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