GVA Stock Summary and Trading Ideas (Granite Construction | NYSE:GVA)

Granite Construction Inc engages in the construction and development of various infrastructure projects on behalf of public and private clients in the United States. It focuses on heavy civil infrastructure projects, including roads, highways, transit facilities, airports, bridges and other infrastructure projects. In addition, the company performs site preparation and infrastructure services for residential development, energy development, and other facilities. The majority of revenue is derived from the company's Construction operating segment, with the remainder derived from its Materials segment.

Granite Construction trades on the NYSE stock market under the symbol GVA.

As of April 19, 2024, GVA stock price declined to $53.44 with 287,682 million shares trading.

GVA has a beta of 1.87, meaning it tends to be more sensitive to market movements. GVA has a correlation of 0.33 to the broad based SPY ETF.

GVA has a market cap of $2.35 billion. This is considered a Mid Cap stock.

Last quarter Granite Construction reported $934 million in Revenue and $.82 earnings per share. This beat revenue expectation by $95 million and missed earnings estimates by -$.06.

In the last 3 years, GVA stock traded as high as $57.93 and as low as $25.35.

The top ETF exchange traded funds that GVA belongs to (by Net Assets): IJR, VTI, VB, IWM, VBR.

GVA has outperformed the market in the last year with a return of +40.9%, while the SPY ETF gained +21.2%. In the last 3 month period, GVA beat the market returning +17.6%, while SPY returned +4.3%. However, in the most recent 2 weeks GVA has underperformed the stock market by returning -4.9%, while SPY returned -3.5%.

GVA support price is $52.72 and resistance is $54.65 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that GVA stock will trade within this expected range on the day.