Is There Now An Opportunity In Granite Construction Incorporated (NYSE:GVA)?
Is There Now An Opportunity In Granite Construction Incorporated (NYSE:GVA)?
Granite Construction Incorporated (NYSE:GVA), is not the largest company out there, but it saw a double-digit share price rise of over 10% in the past couple of months on the NYSE. The recent jump in the share price has meant that the company is trading around its 52-week high. 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? Today we will analyse the most recent data on Granite Construction's outlook and valuation to see if the opportunity still exists.
Granite Construction Incorporated (NYSE:GVA)並不是最大的公司，但它在紐交所最近幾個月內出現了兩位數以上的股價上漲超過了10%。最近的股價飆升意味着該公司的交易價格接近於它52周的最高價。作爲一家中型市值股票並獲得高分析師覆蓋，您可以認爲公司最近的前景變化已經反映在股票中。然而，如果該股票仍是一件便宜貨怎麼辦？今天我們將分析Granite Construction的最新前景和估值數據，以查看機會是否仍然存在。
What Is Granite Construction Worth?
Granite Construction的價值是多少？
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 77.86x is above its peer average of 25.23x, 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? Given that Granite Construction's share is fairly volatile (i.e. its price movements are magnified relative to the rest of the market) this could mean the price can sink lower, giving us another chance to buy in the future. This is based on its high beta, which is a good indicator for share price volatility.
基於我們的價格多重模型，Granite Construction目前較爲昂貴。我們比較了公司的市盈率與行業平均水平的比較。在這種情況下，我們使用市盈率（PE）比率，因爲沒有足夠的信息來可靠地預測股票的現金流。我們發現Granite Construction的77.86倍市盈率高於同行業25.23倍平均水平，這表明該股票的價格較建築行業高。但是，未來是否還有買入機會呢？由於Granite Construction的股票價格相對較爲波動（即其價格波動相對於市場其他部分放大），這可能意味着股票價格可能會下跌，給我們未來另一次買入機會。這基於其高貝塔值，這是股票價格波動的良好指標。
What does the future of Granite Construction look like?
Granite Construction的未來前景如何？
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. With profit expected to more than double in the upcoming, the future appears to be extremely bright for Granite Construction. It looks like higher cash flow is on the cards for the stock, which should feed into a higher share valuation.
當你考慮購買股票時，未來前景是一個很重要的方面，特別是如果你是一名尋求投資組合增長的投資者。儘管價值投資者會認爲最重要的是相對於價格的內在價值，但更具有吸引力的投資理論是追求高增長潛力和廉價股票。預計收益將在未來翻番，這對Granite Construction來說意味着未來前景非常光明。看起來，該股票的現金流將會增加，這應該會提高股票的估值。
What This Means For You
這對您意味着什麼？
Are you a shareholder? It seems like the market has well and truly priced in GVA's positive outlook, 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.
您是股東嗎？看來市場已經充分考慮了GVA的積極前景，股票交易價格高於行業價格倍數。在當前價格下，股東可能會問一個不同的問題 - 我應該賣出嗎？如果您認爲GVA應該低於當前價格，那麼高價賣出並在價格回落到行業市盈率比率附近時再買回來可能會很賺錢。但在做出這個決定之前，請查看其基本面是否發生了變化。
Are you a potential investor? If you've been keeping an eye on GVA for a while, 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.
您是一位潛在投資者嗎？如果您一直關注GVA，現在可能不是進入該股票的最佳時機。價格已經超過了同行業，這意味着可能沒有更多的錯價空間。然而，積極的前景對於GVA來說是鼓舞人心的，這意味着值得深入了解其他因素，以便利用下一個價格下跌的機會。
With this in mind, we wouldn't consider investing in a stock unless we had a thorough understanding of the risks. For example - Granite Construction has 2 warning signs we think you should be aware of.
出於這個原因，我們不考慮投資某個股票，除非我們徹底了解風險。例如 - Granite Construction有兩個警告跡象，我們認爲您應該知道。
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.
如果您不再對Granite Construction感興趣，可以使用我們的免費平台查看我們的超過50個其他具有高增長潛力的股票清單。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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.
對本文有反饋？關於內容有所顧慮？直接和我們聯繫。或者，發送電子郵件至editorial-team (at) simplywallst.com。
這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論，只使用公正的方法論，我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議，也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意，我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
對本文有反饋？關於內容有所顧慮？直接和我們聯繫。或者發送電子郵件至editorial-team@simplywallst.com。
譯文內容由第三人軟體翻譯。