Granite Construction Inc (NYSE:GVA) price on Friday, January 17, rose 0.17% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $92.37.
A look at the stock’s price movement, the close in the last trading session was $92.21, moving within a range at $91.91 and $93.54. The beta value (5-Year monthly) was 1.402 while the PE ratio in trailing twelve months stood at 45.13. Turning to its 52-week performance, $105.20 and $43.92 were the 52-week high and 52-week low respectively. Overall, GVA moved -0.95% over the past month.
Granite Construction Inc’s market cap currently stands at around $4.04 billion, with investors looking forward to this quarter’s earnings report slated for in February. The company has a Forward Dividend ratio of 0.52, with its dividend yield at 0.56%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.
Analysts have a consensus estimate of 949.86M for the company’s revenue for the quarter, with a low and high estimate of 913.06M and 1B respectively. The average forecast suggests up to a 1.73% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 3.98B, representing a 13.44% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that GVA is a 50% Buy. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
GVA’s current price about 3.01% and -1.74% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 55.72, while 7-day volatility ratio is 1.95% and 2.56% in the 30-day chart. Further, Granite Construction Inc (GVA) has a beta value of 1.44, and an average true range (ATR) of 2.36. Analysts have given the company’s stock an average 52-week price target of $70, forecast between a low of $70 and high of $70. Looking at the price targets, the low is 24.22% off current price level while to achieve the yearly target high, price needs to move 24.22%. Nonetheless, investors will most likely welcome a 24.22% jump to $70 which is the analysts’ median price.
If we refocus on Granite Construction Inc (NYSE:GVA), historical trading data shows that trading volumes averaged 0.44 over the past 10 days and 635.37K over the past 3 months. The company’s latest data on shares outstanding shows there are 43.70 million shares.
The 0.84% of Granite Construction Inc’s shares are in the hands of company insiders while institutional holders own 114.36% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 4.57 million on 2024-12-31, giving us a short ratio of 7.37. The data shows that as of 2024-12-31 short interest in Granite Construction Inc (GVA) stood at 1458.0000000000002 of shares outstanding, with shares short rising to 4.44 million registered in 2024-11-29. Current price change has pushed the stock 5.31% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the GVA stock continues to rise going into the next quarter.
