Stock Rating Downgrade
The Value Trend Rating for Granite Construction Inc. (NYSE: GVA) weakened recently from B to C reflecting eroding fundamentals and low Appreciation Potential. Details supporting this lower rating are included in our next report.
Recent Price Action
Granite Construction Inc. (NYSE: GVA) stock closed at $55.53 on 4/26/24 after an increase of 1.4%. However, unusually low trading volume at 55% of normal accompanied the advance. The stock has risen 3.4% 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 C (High Neutral). This rating combines very contradictory signals from two proprietary PTR measures of a stock’s attractiveness. Granite Construction has a slightly negative Appreciation Score of 32 but a very high Power Rating of 93, resulting in the High Neutral Value Trend Rating.
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