One of the most dreaded feelings for an investor is when the stock they just bought is overvalued, or they missed out on an undervalued opportunity by not acting fast enough.

But what if you had the insights to effectively evaluate a company like Granite Construction Inc. before investing? Investing requires a certain perspective to avoid being overly confident in a company or worried about cyclical changes. A smart way to take the guesswork out of knowing when to buy or sell Granite Construction Inc.’s stock is to have the right tools and resources as well as a clear monitoring process.

In this article, we go over a few key elements for understanding Granite Construction Inc.’s stock price such as:

• Current stock price and volume
• Stock price history
• Upgrades and downgrades from analysts
• Stock price momentum as measured by its relative strength

About Granite Construction Inc. (GVA)

Before we jump into Granite Construction Inc.’s stock price, history, target price and what caused it to recently rise, let’s take a look at some background.

Granite Construction Incorporated is a diversified infrastructure company. The Company delivers infrastructure solutions for public and private clients primarily in the United States. Within the public sector, it concentrates on infrastructure projects, including the construction of streets, roads, highways, mass transit facilities, airport infrastructure, bridges, dams, power-related facilities, utilities, tunnels and other infrastructure-related projects. Within the private sector, it performs site preparation, mining services, and infrastructure services for residential development, energy development, commercial and industrial sites, and other facilities, as well as provide construction management professional services. The Company's segments include Construction and Materials. The Construction segment focuses on construction and rehabilitation of roads. The Materials segment focuses on production of aggregates and asphalt production for internal use and for sale to third parties.

Want to learn more about Granite Construction Inc.’s stock? Click the button below to subscribe to A+ Investor and get access to everything you need to know about Granite Construction Inc.. The AAII Stock Evaluator puts a company’s grades, charts, news, financials, valuation, ratios, filings and more at your fingertips.

Granite Construction Inc.’s Stock Price as of Market Close

As of February 16, 2023, 4:00 PM CST, Granite Construction Inc.’s stock price was $43.18.

Granite Construction Inc. is up 4.68% from its previous closing price of $41.25.

During the last market session, Granite Construction Inc.’s stock traded between $40.18 and $41.29. Currently, there are 43.97 million shares of Granite Construction Inc. stock available for purchase.

Granite Construction Inc.’s price-earnings (P/E) ratio is currently at 60.8, which is high compared to the Construction & Engineering industry median of 20.2. The price-earnings ratio gauges market expectation of future performance by relating a stock’s current share price to its earnings per share.

Granite Construction Inc. Stock Price History

Granite Construction Inc.’s (GVA) price is currently up 1.41% so far this month.

During the month of February, Granite Construction Inc.’s stock price has reached a high of $43.93 and a low of $40.18.

Over the last year, Granite Construction Inc. has hit prices as high as $43.85 and as low as $25.35. Year to date, Granite Construction Inc.’s stock is up 11.58%.

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What Caused Granite Construction Inc. Stock’s Price to Rise?

Stock prices are primarily based on seller supply and buyer demand. But have you ever wondered about what other factors affect a stock's price?

One of the most common factors that can drastically impact a stock’s price is analyst upgrades and downgrades. When an analyst changes their opinion of a stock by upgrading or downgrading their rating, it often leads to a sudden stock price adjustment. As of February 15, 2023, there was 1 analyst who downgraded Granite Construction Inc.’s stock and 0 analysts who upgraded over the last month.

Additionally, you'll want to evaluate Granite Construction Inc.’s financial health and valuation. It is possible for a stock to appear cheap based on one valuation metric but appear expensive on another. It is also possible for one valuation ratio to be associated with outperforming stocks during certain periods of time but not others.

Therefore, AAII developed a composite valuation to help resolve such issues. AAII’s Value Grade analyzes six distinct variables: price-to-sales (P/S) ratio, price-earnings (P/E) ratio, the ratio of enterprise value to earnings before interest, taxes, depreciation and amortization (EV/EBITDA), shareholder yield, price-to-book-value (P/B) ratio and price-to-free-cash-flow (P/FCF) ratio.

Granite Construction Inc.’s current valuation based on AAII’s Value Grade is a C, which means it is considered to be Average.

Learn how to evaluate stocks with AAII Grades and Scores with A+ Investor today.

Lastly, news and media coverage as well as recent press reports about the company or its industry may cause stock prices to fluctuate. You can check out the most recent news articles about Granite Construction Inc. (GVA) by visiting AAII Stock Evaluator.

Relative Price Strength of Granite Construction Inc.

Relative price strength addresses the relationship between a stock price’s trend and the price trend of the market. This ratio is expressed as a percentage and helps investors understand a company’s momentum as well as its value. You can use relative price strength to select investments that have been outperforming the market or a specific benchmark.

For AAII’s Momentum Grade, a weighted relative price strength is calculated. The weighted four-quarter relative price strength rank is the relative price change for each of the past four quarters. The most recent quarterly price change is given a weight of 40%, and each of the three previous quarters are given a weighting of 20%.

As of February 15, 2023, Granite Construction Inc. has a weighted four-quarter relative price strength of 6.86%, which translates to a Momentum Score of 82 and is considered to be Very Strong.

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Granite Construction Inc. Stock Price: Bottom Line

As of February 16, 2023, Granite Construction Inc.’s stock price is $43.18, which is up 4.68% from its previous closing price.

At AAII, we stress that investors should never buy or sell a stock solely based on its stock price. Past returns do not guarantee future performance. Therefore, you should consider multiple ratios, fundamentals and analytics before making a decision. Whether you decide it’s a good time to buy or sell Granite Construction Inc.’s stock based on its stock price forecast is ultimately up to you.

It’s important to understand that stock prices are driven by a variety of factors, but ultimately the price at any given moment is due to the supply and demand in the market. Stock price overviews, like the one you just read, only give you a small snapshot of a company’s performance, value and momentum.

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