Stock Rating Upgrade
Reflecting improving fundamentals and high Appreciation Potential, the Value Trend Rating for Granite Construction Inc. (NYSE: GVA) improved of late. 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 $56.79 on 4/8/24 after a slight decline of -0.04%. However, below average trading volume at 71% of normal accompanied the decline. Relative to the market the stock has been exceptionally strong over the last nine months but has declined -0.6% during the last week.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, GVA is expected to continue to be a major Value Builder.
Granite Construction has a current Value Trend Rating of B (Positive). This VT Rating improved in recent days from C previously. The Value Trend Rating reflects very contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. Granite Construction has a slightly negative Appreciation Score of 34 but a very high Power Rating of 93, triggering the Positive Value Trend Rating.
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