4 Stocks Pushing The Materials & Construction Industry Lower
Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model
All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 10 points (0.1%) at 14,085 as of Thursday, Feb. 28, 2013, 12:04 PM ET. The NYSE advances/declines ratio sits at 1,592 issues advancing vs. 1,268 declining with 151 unchanged.
The Materials & Construction industry currently sits up 0.1% versus the S&P 500, which is up 0.2%.
TheStreet Ratings group would like to highlight 4 stocks pushing the industry lower today:
4. Granite Construction ( GVA) is one of the companies pushing the Materials & Construction industry lower today. As of noon trading, Granite Construction is down $3.46 (-9.8%) to $31.71 on heavy volume Thus far, 441,110 shares of Granite Construction exchanged hands as compared to its average daily volume of 209,000 shares. The stock has ranged in price between $31.26-$34.98 after having opened the day at $34.98 as compared to the previous trading day's close of $35.17.
Granite Construction Incorporated, through its subsidiaries, operates as a heavy civil contractor and a construction materials producer for public and private sector clients in the United States. Granite Construction has a market cap of $1.3 billion and is part of the industrial goods sector. The company has a P/E ratio of 29.4, above the S&P 500 P/E ratio of 17.7. Shares are up 4.6% year to date as of the close of trading on Wednesday. Currently there are 3 analysts that rate Granite Construction a buy, 1 analyst rates it a sell, and 3 rate it a hold.
TheStreet Ratings rates Granite Construction as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, good cash flow from operations, solid stock price performance, growth in earnings per share and increase in net income. We feel these strengths outweigh the fact that the company shows low profit margins. Get the full Granite Construction Ratings Report now.
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3. As of noon trading, Fastenal Company ( FAST) is down $0.75 (-1.4%) to $51.54 on light volume Thus far, 347,650 shares of Fastenal Company exchanged hands as compared to its average daily volume of 1.9 million shares. The stock has ranged in price between $51.50-$52.27 after having opened the day at $52.27 as compared to the previous trading day's close of $52.29.