Alert: Rating Downgrade (11/8/24)-Granite Construction Inc. (NYSE: GVA).

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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.

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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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