Granite Construction Inc (GVA) Shares Decline Despite Market Challenges

Granite Construction Inc (NYSE: GVA)’s stock price has dropped by -3.29 in relation to previous closing price of 82.06. Nevertheless, the company has seen a loss of -4.19% in its stock price over the last five trading days. businesswire.com reported 2024-10-31 that WATSONVILLE, Calif.–(BUSINESS WIRE)–Granite Construction Incorporated (NYSE: GVA) today announced results for the quarter ended September 30, 2024. Third Quarter 2024 Results Net income attributable to Granite Construction Incorporated totaled $79 million, or $1.57 per diluted share, compared to $58 million, or $1.13 per diluted share, for the same period in the prior year. Adjusted net income attributable to Granite Construction Incorporated (1) totaled $91 million, or $2.05 per diluted shar.

Is It Worth Investing in Granite Construction Inc (NYSE: GVA) Right Now?

The price-to-earnings ratio for Granite Construction Inc (NYSE: GVA) is above average at 51.03x. The 36-month beta value for GVA is also noteworthy at 1.41. There are mixed opinions on the stock, with 6 analysts rating it as a “buy,” 3 rating it as “overweight,” 2 rating it as “hold,” and 0 rating it as “sell.”

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The public float for GVA is 43.27M, and at present, short sellers hold a 10.48% of that float. The average trading volume of GVA on October 31, 2024 was 589.27K shares.

GVA’s Market Performance

GVA’s stock has seen a -4.19% decrease for the week, with a -1.03% drop in the past month and a 14.15% gain in the past quarter. The volatility ratio for the week is 1.85%, and the volatility levels for the past 30 days are at 1.92% for Granite Construction Inc The simple moving average for the last 20 days is -2.96% for GVA’s stock, with a simple moving average of 25.82% for the last 200 days.

Analysts’ Opinion of GVA

Many brokerage firms have already submitted their reports for GVA stocks, with DA Davidson repeating the rating for GVA by listing it as a “Buy.” The predicted price for GVA in the upcoming period, according to DA Davidson is $55 based on the research report published on April 15, 2021 of the previous year 2021.

Goldman, on the other hand, stated in their research note that they expect to see GVA reach a price target of $26, previously predicting the price at $29. The rating they have provided for GVA stocks is “Sell” according to the report published on January 13th, 2020.

DA Davidson gave a rating of “Neutral” to GVA, setting the target price at $30 in the report published on October 28th of the previous year.

GVA Trading at 1.33% from the 50-Day Moving Average

After a stumble in the market that brought GVA to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -5.64% of loss for the given period.

Volatility was left at 1.92%, however, over the last 30 days, the volatility rate increased by 1.85%, as shares surge +0.89% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +12.79% upper at present.

During the last 5 trading sessions, GVA fell by -3.14%, which changed the moving average for the period of 200-days by +75.56% in comparison to the 20-day moving average, which settled at $81.82. In addition, Granite Construction Inc saw 56.03% in overturn over a single year, with a tendency to cut further gains.

Insider Trading

Reports are indicating that there were more than several insider trading activities at GVA starting from CAMPBELL MOLLY, who sale 2,810 shares at the price of $71.43 back on Aug 20 ’24. After this action, CAMPBELL MOLLY now owns 14,713 shares of Granite Construction Inc, valued at $200,718 using the latest closing price.

CAMPBELL MOLLY, the Director of Granite Construction Inc, proposed sale 2,810 shares at $71.38 during a trade that took place back on Aug 20 ’24, which means that CAMPBELL MOLLY is holding shares at $200,572 based on the most recent closing price.

Stock Fundamentals for GVA

Current profitability levels for the company are sitting at:

  • 0.03 for the present operating margin
  • 0.13 for the gross margin

The net margin for Granite Construction Inc stands at 0.02. The total capital return value is set at 0.06. Equity return is now at value 9.77, with 3.41 for asset returns.

Based on Granite Construction Inc (GVA), the company’s capital structure generated 0.45 points at debt to capital in total, while cash flow to debt ratio is standing at 0.43. The debt to equity ratio resting at 0.81. The interest coverage ratio of the stock is 4.63.

Currently, EBITDA for the company is 143.99 million with net debt to EBITDA at 1.85. When we switch over and look at the enterprise to sales, we see a ratio of 1.05. The receivables turnover for the company is 3.74for trailing twelve months and the total asset turnover is 1.32. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.68.

Conclusion

In summary, Granite Construction Inc (GVA) has had a mixed performance as of late. Analysts have bullish opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.

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