Granite Construction Inc (NYSE:GVA) shares, rose in value on Friday, December 13, with the stock price down by -2.18% to the previous day’s close as strong demand from buyers drove the stock to $93.44.
Actively observing the price movement in the last trading, the stock closed the session at $95.52, falling within a range of $91.75 and $95.84. The value of beta (5-year monthly) was 1.402 whereas the PE ratio was 45.66 over 12-month period. Referring to stock’s 52-week performance, its high was $105.20, and the low was $43.92. On the whole, GVA has fluctuated by -3.41% over the past month.
With the market capitalization of Granite Construction Inc currently standing at about $4.08 billion, investors are eagerly awaiting this quarter’s results, scheduled for in January. The company’s Forward Dividend Ratio is 0.52, with its dividend yield at 0.56%.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 3.98B, with a low estimate of 913.06M and a high estimate of 1B. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 949.86M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that GVA’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium-term indicators have put the stock in the category of 100% Buy while long-term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 6.52, with the price of GVA currently trading nearly -4.33% and 3.00% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 43.31, while the 7-day volatility ratio is showing 3.13% which for the 30-day chart, stands at 2.50%. Furthermore, Granite Construction Inc (GVA)’s beta value is 1.42, and its average true range (ATR) is 2.65.
A comparison of Granite Construction Inc (GVA) with its peers suggests the former has fared considerably weaker in the market. GVA showed an intraday change of -2.18% in last session, and over the past year, it grew by 91.16%%.
Data on historical trading for Granite Construction Inc (NYSE:GVA) indicates that the trading volumes over the past 10 days have averaged 0.49 and over the past 3 months, they’ve averaged 656.28K. According to company’s latest data on outstanding shares, there are 43.70 million shares outstanding.
Nearly 0.89% of Granite Construction Inc’s shares belong to company insiders and institutional investors own 112.72% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 4.44 million shares as on 2024-11-29, resulting in a short ratio of 6.59. According to the data, the short interest in Granite Construction Inc (GVA) stood at 1416.00 of shares outstanding as of 2024-11-29; the number of short shares registered in 2024-10-31 reached 4.24 million. The stock has risen by 83.72% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the GVA stock heading into the next quarter.
