Could Granite Construction Inc. (GVA) Lose its Strength? The Stock Reaches 52-Week High

November 7, 2017 - By Louis Casey

Investors sentiment increased to 1.4 in Q2 2017. Its up 0.26, from 1.14 in 2017Q1. It increased, as 29 investors sold Granite Construction Inc. shares while 53 reduced holdings. 24 funds opened positions while 91 raised stakes. 38.01 million shares or 7.78% more from 35.26 million shares in 2017Q1 were reported.
Vantage Investment Prtnrs Limited Liability has 162,800 shares for 0.71% of their portfolio. Norman Fields Gottscho Cap Mngmt Ltd Co holds 0.14% or 4,635 shares in its portfolio. Adage Prtn Ltd holds 0.08% or 638,964 shares. Independent Consultants has 17,653 shares. Swiss Bancorporation has invested 0% in Granite Construction Inc. (NYSE:GVA). Glenmede Trust Co Na stated it has 744,175 shares or 0.18% of all its holdings. Creative Planning, Kansas-based fund reported 514 shares. Loomis Sayles L P reported 440,438 shares. Price T Rowe Assoc Md owns 715,650 shares for 0.01% of their portfolio. Foundry Partners Lc accumulated 0.02% or 12,220 shares. Shaker Invs Limited Liability Oh holds 0.51% or 14,100 shares in its portfolio. Federated Invsts Incorporated Pa, Pennsylvania-based fund reported 11,335 shares. Wells Fargo & Mn has 361,150 shares. Great West Life Assurance Can has 0% invested in Granite Construction Inc. (NYSE:GVA) for 24,968 shares. State Common Retirement Fund holds 0% of its portfolio in Granite Construction Inc. (NYSE:GVA) for 42,700 shares.

Since May 15, 2017, it had 1 buy, and 2 insider sales for $1.02 million activity. Galloway Patricia D had bought 200 shares worth $9,696 on Monday, May 15. Powell William Howard sold $148,800 worth of stock.

The stock of Granite Construction Inc. (NYSE:GVA) hit a new 52-week high and has $69.44 target or 4.00 % above today’s $66.77 share price. The 6 months bullish chart indicates low risk for the $2.66 billion company. The 1-year high was reported on Nov, 7 by Barchart.com. If the $69.44 price target is reached, the company will be worth $106.40 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

About 197,160 shares traded. Granite Construction Inc. (NYSE:GVA) has risen 16.24% since November 7, 2016 and is uptrending. It has underperformed by 0.46% the S&P500.

Granite Construction Inc. (NYSE:GVA) Ratings Coverage

Among 8 analysts covering Granite Constr (NYSE:GVA), 7 have Buy rating, 0 Sell and 1 Hold. Therefore 88% are positive. Granite Constr had 20 analyst reports since November 24, 2015 according to SRatingsIntel. The stock of Granite Construction Inc. (NYSE:GVA) has “Buy” rating given on Monday, October 30 by Canaccord Genuity. The stock has “Buy” rating by Maxim Group on Tuesday, November 24. M Partners maintained Granite Construction Inc. (NYSE:GVA) on Tuesday, August 2 with “Buy” rating. The rating was maintained by FBR Capital with “Outperform” on Tuesday, August 2. The stock of Granite Construction Inc. (NYSE:GVA) earned “Buy” rating by Cowen & Co on Thursday, October 26. The rating was maintained by FBR Capital on Wednesday, May 3 with “Outperform”. On Wednesday, December 2 the stock rating was maintained by Cowen & Co with “Outperform”. The firm has “Outperform” rating given on Friday, March 31 by Cowen & Co. Stifel Nicolaus initiated Granite Construction Inc. (NYSE:GVA) on Wednesday, December 9 with “Buy” rating. The stock has “Buy” rating by M Partners on Wednesday, June 29.

More notable recent Granite Construction Inc. (NYSE:GVA) news were published by: Seekingalpha.com which released: “Granite Construction (GVA) Q1 2017 Results – Earnings Call Transcript” on May 02, 2017, also Barrons.com with their article: “Granite Construction to See Infrastructure Bump Up” published on June 01, 2017, Prnewswire.com published: “Heavy Construction Stocks on Investors’ Radar — Dycom Industries, Fluor …” on October 10, 2017. More interesting news about Granite Construction Inc. (NYSE:GVA) were released by: Cnbc.com and their article: “Granite Construction shares lifted by California’s infrastructure bill” published on April 07, 2017 as well as Nasdaq.com‘s news article titled: “Granite Construction Inc. (GVA) Has Jumped To A New High After Q3 Profit Beat” with publication date: October 27, 2017.

Granite Construction Incorporated is a heavy civil contractor and construction materials producer in the United States. The company has market cap of $2.66 billion. The Firm operates through three divisions: Construction, Large Project Construction and Construction Materials. It has a 50.88 P/E ratio. The Firm operates across the nation, serving both public and private sector clients.

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