Granite Construction Inc (NYSE:GVA) price on Friday, May 23, rose 2.18% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $88.04.
A look at the stock’s price movement, the close in the last trading session was $86.16. The PE ratio in trailing twelve months stood at 38.70. Turning to its 52-week performance, $105.20 and $58.23 were the 52-week high and 52-week low respectively. Overall, GVA moved 10.05% over the past month.
Granite Construction Inc’s market cap currently stands at around $3.85 billion, with investors looking forward to this quarter’s earnings report slated for in June. The company has a Forward Dividend ratio of 0.52, with its dividend yield at 0.59%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.
Turning to the stock’s technical picture we see that short term indicators suggest on average that GVA is a 100% Buy. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Buy category.
The technical evaluation for the stock shows the PEG ratio is 0.89, with GVA’s current price about 4.95% and 11.00% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 69.81, while 7-day volatility ratio is 1.27% and 1.29% in the 30-day chart. Further, Granite Construction Inc (GVA) has a beta value of 1.34, and an average true range (ATR) of 2.35. 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 20.49% off current price level while to achieve the yearly target high, price needs to move 20.49%. Nonetheless, investors will most likely welcome a 20.49% 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 709.22K over the past 3 months. The company’s latest data on shares outstanding shows there are 43.74 million shares.
The 1.01% of Granite Construction Inc’s shares are in the hands of company insiders while institutional holders own 116.17% of the company’s shares. Current price change has pushed the stock 0.38% 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.
