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STRL

Sterling Construction

$8.34

0.24 (2.96%)

08:47
10/11/16
10/11
08:47
10/11/16
08:47

Sterling Construction selected for multiple airport projects valued at over $65M

Sterling Construction Company announced that its subsidiaries, Ralph L. Wadsworth Construction Company and J. Banicki Construction have been awarded $65 million in projects in Utah and Arizona. The first project, located at Salt Lake City International Airport, is valued at nearly $34 million and consists of all concrete work associated with the Terminal, South Concourse West, Gateway Buildings and associated tunnels. Construction will begin in December of 2016 and is expected to be completed within 2 years. The second project award, also at Salt Lake City International Airport, is valued at approximately $17 million. The project scope is part of the deep foundation package and includes more than 225,000 linear feet of concrete-filled steel pipe piles ranging in depth from 60 to 120 feet. Construction is scheduled to start in December of 2016 and is expected to be completed by the summer of 2017. The remaining airport projects are located mainly at Phoenix Sky Harbor International Airport in Arizona and have a combined value of more than $14 million. The scope of work on these projects consists of the removal and replacement of the north side of Terminal 4, which is one of the busiest taxiways at Sky Harbor Airport. The project will overlap the current American Airlines re-gating project and is expected to take 13 months to complete.

STRL Sterling Construction
$8.34

0.24 (2.96%)

09/12/16
DADA
09/12/16
NO CHANGE
DADA
Sterling Construction price target raised to $9 from $7 at DA Davidson
DA Davidson raised its price target on Sterling citing "increased bid opportunities" for the company stemming from increased federal spending on and support for infrastructure development. The firm keeps a Buy rating on the shares.
05/09/16
DADA
05/09/16
UPGRADE
DADA
Buy
Sterling Construction upgraded to Buy from Neutral at DA Davidson
DA Davidson believes that Sterling's execution has improved, while demand for its products has rebounded, leaving its earnings poised to rise significantly over the next several years. The firm says that the recent decline in the stock has created a buying opportunity. Target $10.
05/03/16
BWSF
05/03/16
DOWNGRADE
Target $6
BWSF
Hold
Sterling Construction downgraded to Hold from Buy at BWS Financial
BWS Financial analyst Vahid Khorsand downgrade Sterling Construction to Hold saying the 4.5M share offering will likely limit the upside for the next few months. Sterling is "replacing expensive debt with expensive stock at an inopportune time," Khorsand tells investors in a research note. The analyst has a $6 price target for the shares.

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