Granite Construction Stock

Hey there, fellow investor! I've been eyeing Granite Construction lately, and I've got to say, I'm a bit wary. Sure, they've landed some sweet contracts, like that $38 million Highway 101 gig, but here's the thing: the stock's already had a massive run-up. We're talking a 46% jump in just six months! That's like a rocket ship that's already reached the stratosphere - how much higher can it really go? Now, don't get me wrong, Granite's doing some solid work. They're recycling materials, focusing on sustainability, and their project pipeline looks decent. But at a P/E of over 40, compared to the industry median of about 15, this stock's priced like it's made of actual granite! It's trading way above its GF Value of $43.13, which makes me think it might be time for a reality check. Plus, we've seen insiders selling recently - not exactly a vote of confidence, is it? It's like the captain jumping ship before the storm hits. While Granite's long-term performance has been stellar, with a 23% CAGR over five years, trees don't grow to the sky, right? So, here's my take: If you're holding Granite, it might be time to consider taking some profits off the table. For potential buyers, I'd say wait for a pullback. This stock might need to cool off a bit before it's worth another look. Remember, sometimes the best move in construction is to wait for the dust to settle!

Granite Construction Incorporated (NYSE: GVA) had its price target raised by analysts at The Goldman Sachs Group, Inc. from $55.00 to $61.00. They now have a "sell" rating on the stock.

Granite Construction Incorporated (NYSE: GVA) had its price target raised by analysts at The Goldman Sachs Group, Inc. from $44.00 to $50.00. They now have a "sell" rating on the stock.