Stock Rating Upgrade
Reflecting improving fundamentals and high Appreciation Potential, the Value Trend Rating for Granite Construction Inc. (NYSE: GVA) improved during the last several trading days. GVA’s current Value Trend Rating is B and the prior Rating was C. Details supporting this higher rating are included in our next report.
Recent Price Action
Granite Construction Inc. (NYSE: GVA) stock closed at $62.43 on 5/24/24 after an increase of 1.2%. However, unusually low trading volume at 58% of normal accompanied the advance. The stock has risen 1.4% during the last week and has been exceptionally strong relative to the market over the last nine months.
Current PriceTarget Research Rating
GVA is expected to continue to be a major Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.
Granite Construction has a current Value Trend Rating of B (Positive). This VT Rating improved in recent days from C previously. With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing very contradictory signals. Granite Construction has a slightly negative Appreciation Score of 35 but a very high Power Rating of 93, and the Positive Value Trend Rating results.
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