A 6-Day Winning Streak Has Granite Construction Stock Up 21%
Granite Construction (GVA) stock is on a 6-day winning streak, up 21.1% since the run began. That added about $989 million to the company’s market value, which now stands at about $5.7 billion. The stock closed at $128.91 on Monday, November 2, 19.5% below its 52-week high of $160.08 and 31.4% above its low of $98.09.
How The Streak Stacks Up Against The S&P 500
Returns for GVA and the S&P 500 over the streak and the periods around it, all ending Monday, November 2 and including dividends:
| Return Period | GVA | S&P 500 |
|---|---|---|
| 1 Day | 4.3% | -0.5% |
| 6 Days (Current Streak) | 21.1% | -1.1% |
| 1 Month (21 Trading Days) | 7.5% | -2.3% |
| 3 Months (63 Trading Days) | 5.7% | -2.3% |
| Year To Date | 12.1% | 11.2% |
| 1 Year (252 Trading Days) | 25.9% | 11.8% |
How The Streak Compares With The Market
The market explains little of this: the S&P 500 lost 1.1% over the same 6 sessions, including dividends, against Granite Construction’s +21.1%. Over the past three months the stock is up 5.7%, a window that includes the streak; over the other 57 sessions of that window it was down 12.7%.
Is The Business Keeping Up With The Stock?
On the fundamentals, revenue grew 25.1% over the last twelve months, against a median of 8.2% for S&P 500 Industrials stocks; and its operating margin is 7.1%, versus a median of 17.6%. Granite Construction does not have positive trailing earnings, so there is no meaningful price-to-earnings multiple to compare. The read is mixed: revenue growth above the median on one side, margins below the median on the other.
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Momentum Is A Tailwind, Not A Plan
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