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MKM Partners issued a report on (NYSE:GVA) Granite Construction Inc., bumping up its target price to $56 earlier today

Granite Construction Inc. (NYSE:GVA) had its estimated target price raised to $56 by MKM Partners in an issued report issued Tuesday August 2 2016. The new target price suggests a potential upside of 0.12% from the company’s most recent closing price.

Only yesterday Granite Construction Inc. (NYSE:GVA) traded 0.36% lower at $49.96. Granite Construction Inc.’s 50-day moving average is $46.64 and its two hundred day moving average is $43.67. The last stock price close is up 14.41% relative to the 200-day moving average, compared to the S&P 500 Index which has raised 0.00% over the same time. 333,224 shares of GVA traded hands, up from an avg. trading volume of 296,097.

Recent Performance Chart:

Granite Construction Inc. (NYSE:GVA)

With a market cap of $2.0B, Granite Construction Inc. has a one-year low of $28.45 and a one-year high of $51.31 with a P/E ratio of 32.

In addition to MKM Partners reporting it’s target price, a total of 10 equity analysts have released a ratings update on Granite Construction Inc.. The 12-month target price is $51.10 with four firms rating the stock a strong buy, four firms rating the company a buy, three firms rating the stock a hold, zero rating the stock to underperform, and finally zero analystsrating the stock as sell.

Brief Synopsis About Granite Construction Inc. (NYSE:GVA)

Granite Construction Incorporated is a heavy civil contractor and construction materials producer in the United States. The Company operates through three segments: Construction, Large Project Construction and Construction Materials. Its Construction segment performs construction management, as well as various civil construction projects with a portion of the work focused on new construction and improvement of streets, roads, highways, bridges, site work, underground, power-related facilities, water-related facilities, utilities and other infrastructure projects. The Company’s Large Project Construction segment focuses on large and complex infrastructure projects, and which have a longer duration than its Construction segment work. The Company’s Construction Materials segment mines and processes aggregates and operates plants that produce construction materials for internal use and for sale to third parties.

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