Craig Hallum Lowers Southland (NASDAQ:SLND) Price Target to $5.00

Southland (NASDAQ:SLND) had its price objective cut by Craig Hallum from $9.00 to $5.00 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Craig Hallum’s price objective suggests a potential upside of 79.86% from the company’s previous close.

Southland Price Performance

Shares of SLND stock traded up $0.28 during trading hours on Thursday, hitting $2.78. 40,231 shares of the company’s stock were exchanged, compared to its average volume of 43,668. The firm has a market cap of $133.75 million, a P/E ratio of -1.25 and a beta of 0.76. The firm has a 50 day moving average of $3.50 and a two-hundred day moving average of $4.13. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.80. Southland has a fifty-two week low of $1.85 and a fifty-two week high of $6.16.

Southland (NASDAQ:SLND) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($1.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($1.05). Southland had a negative return on equity of 43.46% and a negative net margin of 10.38%. The firm had revenue of $173.32 million during the quarter.

Hedge Funds Weigh In On Southland

Several institutional investors and hedge funds have recently bought and sold shares of SLND. Raymond James Trust N.A. acquired a new stake in Southland during the 2nd quarter worth approximately $6,813,000. Renaissance Technologies LLC boosted its holdings in shares of Southland by 111.8% during the second quarter. Renaissance Technologies LLC now owns 32,200 shares of the company’s stock worth $147,000 after purchasing an additional 16,999 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Southland during the second quarter worth approximately $99,000. Rhumbline Advisers increased its position in Southland by 125.3% during the 2nd quarter. Rhumbline Advisers now owns 9,209 shares of the company’s stock worth $42,000 after purchasing an additional 5,122 shares in the last quarter. Finally, Verus Capital Partners LLC purchased a new stake in shares of Southland in the third quarter worth about $344,000. 2.85% of the stock is currently owned by institutional investors and hedge funds.

Southland Company Profile

Southland Holdings, Inc engages in specialty infrastructure construction business in North America and internationally. The company operates through two segments, Civil and Transportation. The Civil segment designs and constructs water pipelines, pump stations, lift stations, water and wastewater treatment plants, concrete and structural steel, outfall, and tunneling.