Granite Construction Incorporated (GVA)
Granite Construction Incorporated is an infrastructure contractor and producer of building materials in the United States. The company is headquartered in Watsonville, California.
Stock Price Trends
Stock price trends estimated using linear regression.
Key facts
- The primary trend is increasing.
- The growth rate of the primary trend is 92.10% per annum.
- GVA price at the close of July 25, 2024 was $66.38 and was inside the primary price channel.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 25.16% per annum.
- GVA price at the close of July 25, 2024 was inside the secondary price channel.
Linear Regression Model
Model equation:
Yi = α + β × Xi + εi
Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)
Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)
where:
i - observation number
Yi - natural logarithm of GVA price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e
Primary Trend
Start date: September 6, 2023
End date: July 25, 2024
a = 0.9346
b = 0.0018
s = 0.0615
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0018) – 1
= 92.10%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0615) – 1
= 27.88%
September 6, 2023 calculations
Top border of price channel:
Exp(Y1,035)
= Exp(a + b × X1,035 + 2 × s)
= Exp(a + b × 1,503 + 2 × s)
= Exp(0.9346 + 0.0018 × 1,503 + 2 × 0.0615)
= Exp(3.7458)
= $42.34
Bottom border of price channel:
Exp(Y1,035)
= Exp(a + b × X1,035 – 2 × s)
= Exp(a + b × 1,503 – 2 × s)
= Exp(0.9346 + 0.0018 × 1,503 – 2 × 0.0615)
= Exp(3.4999)
= $33.11
July 25, 2024 calculations
Top border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 + 2 × s)
= Exp(a + b × 1,826 + 2 × s)
= Exp(0.9346 + 0.0018 × 1,826 + 2 × 0.0615)
= Exp(4.3235)
= $75.46
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(0.9346 + 0.0018 × 1,826 – 2 × 0.0615)
= Exp(4.0776)
= $59.01
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 92.10% per annum.
- GVA price at the close of July 25, 2024 was $66.38 and was inside the primary price channel.
Secondary Trend
Start date: May 3, 2024
End date: July 25, 2024
a = 3.0306
b = 0.0006
s = 0.0269
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0006) – 1
= 25.16%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0269) – 1
= 11.35%
May 3, 2024 calculations
Top border of price channel:
Exp(Y1,201)
= Exp(a + b × X1,201 + 2 × s)
= Exp(a + b × 1,743 + 2 × s)
= Exp(3.0306 + 0.0006 × 1,743 + 2 × 0.0269)
= Exp(4.1560)
= $63.82
Bottom border of price channel:
Exp(Y1,201)
= Exp(a + b × X1,201 – 2 × s)
= Exp(a + b × 1,743 – 2 × s)
= Exp(3.0306 + 0.0006 × 1,743 – 2 × 0.0269)
= Exp(4.0485)
= $57.31
July 25, 2024 calculations
Top border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 + 2 × s)
= Exp(a + b × 1,826 + 2 × s)
= Exp(3.0306 + 0.0006 × 1,826 + 2 × 0.0269)
= Exp(4.2070)
= $67.16
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(3.0306 + 0.0006 × 1,826 – 2 × 0.0269)
= Exp(4.0995)
= $60.31
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 25.16% per annum.
- GVA price at the close of July 25, 2024 was inside the secondary price channel.