Construction Partners (NASDAQ:ROAD) Stock Price Down 5.3% – Should You Sell?

Construction Partners, Inc. (NASDAQ:ROAD)’s share price traded down 5.3% during mid-day trading on Thursday . The stock traded as low as $96.93 and last traded at $96.53. 325,022 shares traded hands during mid-day trading, a decline of 43% from the average daily volume of 574,011 shares. The stock had previously closed at $101.90.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Robert W. Baird decreased their price target on shares of Construction Partners from $169.00 to $145.00 and set an “outperform” rating for the company in a research note on Wednesday, July 1st. Weiss Ratings downgraded Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. B. Riley Financial upgraded Construction Partners from a “neutral” rating to a “buy” rating and upped their target price for the stock from $117.00 to $135.00 in a report on Thursday, April 2nd. Raymond James Financial reissued a “strong-buy” rating and set a $140.00 price target on shares of Construction Partners in a research report on Monday, April 27th. Finally, Zacks Research upgraded Construction Partners from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $132.50.

Construction Partners Trading Down 5.8%

The company’s fifty day moving average is $117.58 and its 200-day moving average is $117.99. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.53 and a quick ratio of 1.21. The company has a market capitalization of $5.42 billion, a PE ratio of 42.09, a price-to-earnings-growth ratio of 0.86 and a beta of 0.88.

Construction Partners (NASDAQ:ROAD) last announced its earnings results on Friday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.23. The business had revenue of $769.20 million for the quarter, compared to analysts’ expectations of $678.46 million. Construction Partners had a return on equity of 15.22% and a net margin of 3.90%.The business’s revenue for the quarter was up 34.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.08 EPS. On average, analysts anticipate that Construction Partners, Inc. will post 2.95 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. AQR Capital Management LLC lifted its position in Construction Partners by 14.4% during the first quarter. AQR Capital Management LLC now owns 10,333 shares of the company’s stock valued at $743,000 after acquiring an additional 1,302 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Construction Partners by 11.2% during 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 worth $6,913,000 after purchasing an additional 9,656 shares in the last quarter. Intech Investment Management LLC lifted its holdings in shares of Construction Partners by 11.4% during the 1st quarter. Intech Investment Management LLC now owns 24,292 shares of the company’s stock valued at $1,746,000 after purchasing an additional 2,482 shares during the last quarter. Strs Ohio acquired a new stake in shares of Construction Partners in the 1st quarter worth $165,000. Finally, Hsbc Holdings PLC acquired a new stake in Construction Partners in the second quarter worth about $552,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

About Construction Partners

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.