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 enjoyed a large increase of 3.7% on 5/3/24. The stock closed at $59.39. Moreover, this advance was accompanied by exceptionally high trading volume at 211% of normal. The stock has been exceptionally strong relative to the market over the last nine months and has risen 8.5% 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 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 32 but a very high Power Rating of 92, with the Positive Value Trend Rating the result.
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