Construction Partners (NASDAQ:ROAD) Rating Lowered to Strong Sell at Zacks Research

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

Several other research analysts have also issued reports on the stock. B. Riley Financial decreased their price target on shares of Construction Partners from $135.00 to $100.00 and set a “buy” rating for the company in a research note on Monday. Robert W. Baird dropped their price objective on shares of Construction Partners from $145.00 to $141.00 and set an “outperform” rating on the stock in a research note on Monday, August 10th. Truist Financial dropped their price objective on shares of Construction Partners from $130.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, November 6th. Raymond James Financial restated a “strong-buy” rating and issued a $125.00 price objective on shares of Construction Partners in a report on Friday, November 6th. Finally, Weiss Ratings downgraded shares of Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, September 17th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $116.83.

Construction Partners Stock Performance

Shares of ROAD stock opened at $84.03 on Tuesday. Construction Partners has a 12 month low of $74.51 and a 12 month high of $151.00. The stock has a market cap of $4.77 billion, a PE ratio of 32.95, a price-to-earnings-growth ratio of 0.68 and a beta of 0.94. The company has a current ratio of 1.57, a quick ratio of 1.26 and a debt-to-equity ratio of 1.68. The company’s fifty day moving average price is $90.43 and its 200-day moving average price is $109.91.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp purchased a new position in Construction Partners in the 2nd quarter worth about $78,248,000. First Trust Advisors LP boosted its holdings in shares of Construction Partners by 29.6% during the 1st quarter. First Trust Advisors LP now owns 1,030,378 shares of the company’s stock valued at $114,496,000 after acquiring an additional 235,616 shares during the last quarter. Public Sector Pension Investment Board purchased a new stake in shares of Construction Partners during the 3rd quarter valued at about $17,326,000. Van Berkom & Associates Inc. boosted its holdings in shares of Construction Partners by 45.5% during the 3rd quarter. Van Berkom & Associates Inc. now owns 606,302 shares of the company’s stock valued at $54,585,000 after acquiring an additional 189,576 shares during the last quarter. Finally, Wasatch Advisors LP grew its stake in shares of Construction Partners by 20.6% in the second quarter. Wasatch Advisors LP now owns 1,008,474 shares of the company’s stock worth $119,776,000 after acquiring an additional 172,034 shares during the period. 94.83% of the stock is owned by institutional investors.

About Construction Partners

Construction Partners, Inc. is a civil infrastructure company that builds and maintains roads, highways, and other transportation-related projects. Its services include roadway paving, site development, milling and resurfacing, and related construction work for public and private customers. The company also produces and supplies materials used in its projects, including hot-mix asphalt and aggregates. Its vertically integrated operations combine construction services with materials production and distribution.