Construction Partners (NASDAQ:ROAD) Lowered to “Sell” at ValuEngine

ValuEngine lowered shares of Construction Partners (NASDAQ:ROAD) from a hold rating to a sell rating in a research report released on Tuesday morning, ValuEngine reports.

Other analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Construction Partners from a strong-buy rating to a hold rating in a research note on Tuesday, November 5th. Imperial Capital reiterated an outperform rating and issued a $17.25 price target (up previously from $15.50) on shares of Construction Partners in a research note on Thursday, August 15th. Finally, Raymond James upped their price target on shares of Construction Partners from $15.00 to $16.50 and gave the company a strong-buy rating in a research note on Monday, August 12th.

NASDAQ:ROAD opened at $19.12 on Tuesday. The company has a market cap of $984.86 million, a P/E ratio of 22.23 and a beta of 1.95. The firm’s fifty day moving average price is $17.92 and its two-hundred day moving average price is $15.47. Construction Partners has a one year low of $7.70 and a one year high of $20.25. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.97 and a quick ratio of 1.69.

In other news, Director Cpi Expansion Fund Gp L. Suntx sold 5,000,000 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $13.47, for a total value of $67,350,000.00. Also, Director Cpi Expansion Fund Gp L. Suntx sold 750,000 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $17.24, for a total transaction of $12,930,000.00. 74.79% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. Comerica Bank bought a new stake in Construction Partners in the 3rd quarter valued at about $1,179,000. Wells Fargo & Company MN grew its position in shares of Construction Partners by 545.8% during the 2nd quarter. Wells Fargo & Company MN now owns 91,765 shares of the company’s stock worth $1,378,000 after purchasing an additional 77,555 shares in the last quarter. Invesco Ltd. grew its position in shares of Construction Partners by 5.9% during the 2nd quarter. Invesco Ltd. now owns 75,854 shares of the company’s stock worth $1,139,000 after purchasing an additional 4,213 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Construction Partners by 1.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,310,147 shares of the company’s stock worth $20,412,000 after purchasing an additional 14,553 shares during the period. Finally, Stephens Inc. AR increased its holdings in shares of Construction Partners by 5.9% during the third quarter. Stephens Inc. AR now owns 116,520 shares of the company’s stock worth $1,815,000 after purchasing an additional 6,522 shares during the period. 35.22% of the stock is currently owned by institutional investors and hedge funds.

About Construction Partners

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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