Construction Partners (NASDAQ:ROAD) Cut to Neutral at Sidoti

Construction Partners (NASDAQ:ROAD) was downgraded by investment analysts at Sidoti from a “buy” rating to a “neutral” rating in a note issued to investors on Thursday, Briefing.com reports. They currently have a $59.00 price objective on the stock. Sidoti’s target price suggests a potential upside of 2.79% from the stock’s previous close.

Several other brokerages have also issued reports on ROAD. Stifel Nicolaus lifted their price target on shares of Construction Partners from $51.00 to $57.00 and gave the company a “buy” rating in a report on Monday, February 12th. Robert W. Baird lowered shares of Construction Partners from an “outperform” rating to a “neutral” rating and lifted their price target for the company from $46.00 to $50.00 in a report on Monday, February 12th. Finally, Raymond James lifted their price target on shares of Construction Partners from $45.00 to $49.00 and gave the company a “strong-buy” rating in a report on Friday, December 1st. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Construction Partners currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.00.

Construction Partners Price Performance

ROAD stock opened at $57.40 on Thursday. The company has a quick ratio of 1.39, a current ratio of 1.75 and a debt-to-equity ratio of 0.82. Construction Partners has a 12 month low of $24.12 and a 12 month high of $57.50. The firm has a market cap of $3.03 billion, a P/E ratio of 53.15, a P/E/G ratio of 1.44 and a beta of 0.64. The company’s 50-day moving average price is $48.41 and its two-hundred day moving average price is $43.13.

Construction Partners (NASDAQ:ROAD) last released its earnings results on Friday, February 9th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.13 by $0.06. Construction Partners had a net margin of 3.52% and a return on equity of 11.56%. The firm had revenue of $396.51 million for the quarter, compared to analyst estimates of $393.62 million. During the same period last year, the firm earned $0.04 EPS. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. On average, analysts anticipate that Construction Partners will post 1.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ROAD. BlackRock Inc. increased its stake in Construction Partners by 23.2% during the 1st quarter. BlackRock Inc. now owns 2,655,171 shares of the company’s stock valued at $69,511,000 after purchasing an additional 500,697 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Construction Partners by 436.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 504,372 shares of the company’s stock valued at $15,832,000 after purchasing an additional 410,306 shares in the last quarter. Vanguard Group Inc. increased its stake in Construction Partners by 19.8% during the 1st quarter. Vanguard Group Inc. now owns 2,029,848 shares of the company’s stock valued at $53,141,000 after purchasing an additional 336,161 shares in the last quarter. Comerica Bank increased its stake in Construction Partners by 2,716.6% during the 3rd quarter. Comerica Bank now owns 344,814 shares of the company’s stock valued at $12,606,000 after purchasing an additional 332,572 shares in the last quarter. Finally, Tyro Capital Management LLC bought a new stake in Construction Partners during the 4th quarter valued at $12,410,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

Construction Partners Company Profile

Construction Partners, Inc, a civil infrastructure company, constructs and maintains roadways in Alabama, Florida, Georgia, North Carolina, South Carolina, and Tennessee. The company provides various products and services to public and private infrastructure projects, such as highways, roads, bridges, airports, and commercial and residential developments.