Construction Partners (NASDAQ:ROAD) Stock Rating Lowered by Zacks Research

Construction Partners (NASDAQ:ROAD) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the company. Bank of America cut their target price on Construction Partners from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, November 21st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Construction Partners in a report on Monday, December 29th. DA Davidson reissued a “neutral” rating and set a $120.00 price objective on shares of Construction Partners in a research report on Friday, November 21st. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $135.00 target price (up previously from $120.00) on shares of Construction Partners in a research report on Tuesday, October 21st. Finally, Robert W. Baird lowered their target price on shares of Construction Partners from $131.00 to $124.00 and set an “outperform” rating for the company in a research note on Friday, November 21st. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $123.50.

Construction Partners Stock Down 1.3%

Shares of NASDAQ:ROAD opened at $115.54 on Monday. Construction Partners has a 52-week low of $64.79 and a 52-week high of $138.90. The stock has a market cap of $6.53 billion, a P/E ratio of 63.14, a PEG ratio of 1.12 and a beta of 0.87. The business has a fifty day moving average of $109.22 and a two-hundred day moving average of $113.20. The company has a quick ratio of 1.34, a current ratio of 1.61 and a debt-to-equity ratio of 1.73.

Construction Partners (NASDAQ:ROAD) last posted its earnings results on Thursday, November 20th. The company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.04). Construction Partners had a net margin of 3.62% and a return on equity of 14.42%. The firm had revenue of $899.85 million during the quarter, compared to analyst estimates of $896.17 million. During the same quarter in the previous year, the firm earned $0.56 earnings per share. The business’s revenue for the quarter was up 67.2% compared to the same quarter last year. On average, research analysts expect that Construction Partners will post 1.96 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC boosted its position in Construction Partners by 14.4% in the 1st quarter. AQR Capital Management LLC now owns 10,333 shares of the company’s stock valued at $743,000 after buying an additional 1,302 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Construction Partners by 11.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 96,191 shares of the company’s stock valued at $6,913,000 after purchasing an additional 9,656 shares during the period. Intech Investment Management LLC grew its stake in Construction Partners by 11.4% during the 1st quarter. Intech Investment Management LLC now owns 24,292 shares of the company’s stock worth $1,746,000 after purchasing an additional 2,482 shares in the last quarter. Strs Ohio purchased a new stake in Construction Partners during the 1st quarter worth about $165,000. Finally, HWG Holdings LP purchased a new stake in Construction Partners during the 2nd quarter worth about $2,260,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

Construction Partners Company Profile

Construction Partners, Inc (NASDAQ: ROAD) is a specialty contractor and infrastructure solutions provider focused on road building, paving, site development and aggregate production. The company delivers a comprehensive suite of civil construction services, including roadway paving and milling, site grading and preparation, stormwater and utility installation, and full-scale asphalt plant operations. By integrating materials production with contracting capabilities, the firm aims to streamline project delivery and maintain quality control across its contracting and materials businesses.

At the heart of Construction Partners’ operations are its network of asphalt plants, quarries and aggregate production facilities.