Construction Partners (NASDAQ:ROAD) Stock Rating Lowered by ValuEngine

Construction Partners (NASDAQ:ROAD) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Monday, ValuEngine reports.

Other research analysts also recently issued reports about the company. Raymond James raised their price objective on Construction Partners from $15.00 to $16.50 and gave the company a “strong-buy” rating in a research note on Monday, August 12th. Imperial Capital reissued an “outperform” rating and issued a $17.25 price objective (up from $15.50) on shares of Construction Partners in a research note on Thursday, August 15th. Finally, Zacks Investment Research raised Construction Partners from a “hold” rating to a “strong-buy” rating and set a $17.00 price objective on the stock in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $16.44.

Shares of Construction Partners stock traded down $0.92 during trading on Monday, hitting $14.81. 556,169 shares of the stock traded hands, compared to its average volume of 116,902. The stock has a market cap of $790.70 million, a P/E ratio of 17.22 and a beta of 1.90. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.69 and a current ratio of 1.97. Construction Partners has a twelve month low of $7.70 and a twelve month high of $16.58. The company has a fifty day moving average price of $15.03 and a two-hundred day moving average price of $13.62.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.04. Construction Partners had a return on equity of 13.47% and a net margin of 5.48%. The business had revenue of $227.30 million during the quarter, compared to analyst estimates of $229.67 million. During the same period in the previous year, the company earned $0.29 EPS. The firm’s revenue was up 16.5% on a year-over-year basis. On average, equities research analysts expect that Construction Partners will post 0.85 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of the stock. Citadel Advisors LLC bought a new position in shares of Construction Partners in the 2nd quarter valued at approximately $456,000. Cubist Systematic Strategies LLC bought a new position in shares of Construction Partners in the 2nd quarter valued at approximately $170,000. Invesco Ltd. raised its stake in shares of Construction Partners by 5.9% in the 2nd quarter. Invesco Ltd. now owns 75,854 shares of the company’s stock valued at $1,139,000 after acquiring an additional 4,213 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Construction Partners by 22.3% in the 2nd quarter. Vanguard Group Inc. now owns 357,040 shares of the company’s stock valued at $5,363,000 after acquiring an additional 65,059 shares in the last quarter. Finally, A.R.T. Advisors LLC bought a new position in shares of Construction Partners in the 2nd quarter valued at approximately $204,000. 23.31% of the stock is currently owned by institutional investors and hedge funds.

Construction Partners Company Profile

Construction Partners, Inc, an infrastructure and road construction company, provides construction products and services to public and private sectors. It offers construction of highways, roads, bridges, airports, and commercial and residential sites. The company provides a range of sitework construction services, including site development, paving, and utility and drainage systems construction, as well as supplies hot mix asphalt required for the projects.

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