Stock Rating Downgrade
In the last week the Value Trend Rating for Granite Construction Inc. (NYSE: GVA) weakened from B to C reflecting eroding fundamentals and low Appreciation Potential.
Recent Price Action
On 11/8/24, Granite Construction Inc. (NYSE: GVA) stock enjoyed a large increase of 2.3%, closing at $97.94. This advance was accompanied by normal trading volume. Relative to the market the stock has been exceptionally strong over the last nine months and has risen 16.5% during the last week.
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 C (High Neutral). The Value Trend Rating reflects very contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. Granite Construction has a poor Appreciation Score of 25 but a very high Power Rating of 99, resulting in the High Neutral Value Trend Rating.
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