Why Did Granite Construction Plunge 11.23%?

On July 2, 2025, Granite Construction's stock price plummeted by 11.23% in pre-market trading, signaling a significant downturn for the construction and infrastructure company.

Granite Construction's recent stock performance has been influenced by several key factors. The company's valuation, as estimated by Trefis, stands at $93.00 per share, which is slightly above the market price of $92.88 as of July 1, 2025. This implies a minimal downside potential of 0.0%, suggesting that the stock may be fairly valued.

Additionally, Granite Construction has seen notable institutional activity. Golden State Wealth Management LLC recently purchased 5,835 shares of the company, indicating continued interest from large investors. This purchase comes amidst a broader trend of institutional buying, which could provide some support for the stock in the near term.

Despite these positive indicators, the company's stock has faced challenges. On Tuesday, Granite Construction's stock traded down by $0.85, closing at $92.66. This decline reflects broader market concerns and potential headwinds facing the construction sector.

Looking ahead, Granite Construction's stock forecast remains mixed. While some analysts have raised their target price to $96.00, the recent downturn highlights the volatility and uncertainty in the market. Investors will be closely watching the company's performance and any updates on its projects, such as the recently announced $26 million San Francisco project, to gauge its future prospects.