Is Granite Construction Incorporated (NYSE:GVA) Potentially Undervalued?
Is Granite Construction Incorporated (NYSE:GVA) Potentially Undervalued?
While Granite Construction Incorporated (NYSE:GVA) might not have the largest market cap around , it saw a decent share price growth of 17% on the NYSE over the last few months. The company's trading levels have approached the yearly peak, following the recent bounce in the share price. As a mid-cap stock with high coverage by analysts, you could assume any recent changes in the company's outlook is already priced into the stock. However, what if the stock is still a bargain? Let's examine Granite Construction's valuation and outlook in more detail to determine if there's still a bargain opportunity.
尽管Granite Construction Incorporated（纽约证券交易所代码：GVA）的市值可能不是最大的，但在过去的几个月中，纽约证券交易所的股价增长了17％。继最近股价反弹之后，该公司的交易水平已接近年度峰值。作为分析师报道率高的中型股票，你可以假设该公司前景的任何最近变化都已计入该股。但是，如果股票仍然很便宜怎么办？让我们更详细地研究Granite Construction的估值和前景，以确定是否还有讨价还价的机会。
What's The Opportunity In Granite Construction?
花岗岩建筑的机会是什么？
Granite Construction is currently expensive based on our price multiple model, where we look at the company's price-to-earnings ratio in comparison to the industry average. In this instance, we've used the price-to-earnings (PE) ratio given that there is not enough information to reliably forecast the stock's cash flows. We find that Granite Construction's ratio of 52.47x is above its peer average of 26.54x, which suggests the stock is trading at a higher price compared to the Construction industry. But, is there another opportunity to buy low in the future? Since Granite Construction's share price is quite volatile, this could mean it can sink lower (or rise even further) in the future, giving us another chance to invest. This is based on its high beta, which is a good indicator for how much the stock moves relative to the rest of the market.
根据我们的多价模型，Granite Construction目前价格昂贵，在该模型中，我们将公司的市盈率与行业平均水平的比较来看。在这种情况下，鉴于没有足够的信息来可靠地预测股票的现金流，我们使用了市盈率（PE）。我们发现，Granite Construction的52.47倍比率高于其同行平均水平的26.54倍，这表明该股的交易价格高于建筑行业。但是，未来还有其他低价买入的机会吗？由于Granite Construction的股价波动很大，这可能意味着它将来可能会下跌（或进一步上涨），从而为我们提供另一次投资机会。这是基于其较高的贝塔值，这是一个很好的指标，可以很好地衡量股票相对于其他市场的波动幅度。
What does the future of Granite Construction look like?
花岗岩建筑的未来是什么样子？
Future outlook is an important aspect when you're looking at buying a stock, especially if you are an investor looking for growth in your portfolio. Although value investors would argue that it's the intrinsic value relative to the price that matter the most, a more compelling investment thesis would be high growth potential at a cheap price. Granite Construction's earnings over the next few years are expected to double, indicating a very optimistic future ahead. This should lead to stronger cash flows, feeding into a higher share value.
当你考虑买入股票时，未来前景是一个重要的方面，特别是如果你是寻求投资组合增长的投资者。尽管价值投资者会争辩说，最重要的是相对于价格的内在价值，但更有说服力的投资论点是以低廉的价格获得高增长潜力。Granite Construction在未来几年的收益预计将翻一番，这表明未来的前景非常乐观。这应该会导致更强劲的现金流，从而提高股票价值。
What This Means For You
这对你意味着什么
Are you a shareholder? GVA's optimistic future growth appears to have been factored into the current share price, with shares trading above industry price multiples. At this current price, shareholders may be asking a different question – should I sell? If you believe GVA should trade below its current price, selling high and buying it back up again when its price falls towards the industry PE ratio can be profitable. But before you make this decision, take a look at whether its fundamentals have changed.
你是股东吗？GVA乐观的未来增长似乎已被纳入当前股价的因素，股票的交易价格高于行业价格倍数。按照目前的价格，股东们可能会问另一个问题——我应该卖出吗？如果您认为GVA的交易价格应低于其当前价格，那么高价卖出并在其价格跌至行业市盈率时再次回购可以获利。但是在做出这个决定之前，先看看它的基本面是否发生了变化。
Are you a potential investor? If you've been keeping tabs on GVA for some time, now may not be the best time to enter into the stock. The price has surpassed its industry peers, which means it is likely that there is no more upside from mispricing. However, the positive outlook is encouraging for GVA, which means it's worth diving deeper into other factors in order to take advantage of the next price drop.
你是潜在的投资者吗？如果你关注GVA已有一段时间了，那么现在可能不是入股的最佳时机。该价格已经超过了业内同行，这意味着错误定价可能没有更多的上行空间。但是，GVA的乐观前景令人鼓舞，这意味着值得深入研究其他因素，以利用下一次价格下跌的机会。
With this in mind, we wouldn't consider investing in a stock unless we had a thorough understanding of the risks. In terms of investment risks, we've identified 2 warning signs with Granite Construction, and understanding these should be part of your investment process.
考虑到这一点，除非我们对风险有透彻的了解，否则我们不会考虑投资股票。在投资风险方面，我们已经确定了Granite Construction的两个警告信号，了解这些信号应该是您投资过程的一部分。
If you are no longer interested in Granite Construction, you can use our free platform to see our list of over 50 other stocks with a high growth potential.
如果您不再对Granite Construction感兴趣，可以使用我们的免费平台查看我们列出的其他50多只具有高增长潜力的股票清单。
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论，我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议，也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意，我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之，华尔街没有持有任何上述股票的头寸。
译文内容由第三方软件翻译。