Construction Partners (NASDAQ:ROAD) Stock Rating Lowered by Zacks Research

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

A number of other equities analysts have also issued reports on ROAD. Raymond James Financial reaffirmed a “strong-buy” rating and set a $135.00 target price (up previously from $120.00) on shares of Construction Partners in a research report on Tuesday, October 21st. Robert W. Baird set a $122.00 target price on shares of Construction Partners and gave the company an “outperform” rating in a research report on Friday, August 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Construction Partners in a report on Wednesday, October 8th. DA Davidson boosted their price target on Construction Partners from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Thursday, October 23rd. Finally, Baird R W raised Construction Partners from a “hold” rating to a “strong-buy” rating in a report on Friday, August 8th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $125.67.

Construction Partners Stock Performance

ROAD opened at $114.85 on Tuesday. The stock has a 50-day moving average of $122.13 and a 200-day moving average of $109.37. Construction Partners has a 52-week low of $64.79 and a 52-week high of $138.90. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.20 and a current ratio of 1.47. The company has a market cap of $6.44 billion, a PE ratio of 83.83, a price-to-earnings-growth ratio of 0.99 and a beta of 1.02.

Construction Partners (NASDAQ:ROAD) last announced its earnings results on Thursday, August 7th. The company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.06). The business had revenue of $779.28 million for the quarter, compared to the consensus estimate of $810.47 million. Construction Partners had a net margin of 3.04% and a return on equity of 12.24%. Construction Partners’s revenue for the quarter was up 50.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.59 EPS. As a group, equities research analysts forecast that Construction Partners will post 1.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. TD Waterhouse Canada Inc. acquired a new position in Construction Partners in the third quarter valued at approximately $25,000. AlphaQuest LLC grew its position in shares of Construction Partners by 292.5% during the 3rd quarter. AlphaQuest LLC now owns 208 shares of the company’s stock worth $26,000 after buying an additional 155 shares during the period. Montag A & Associates Inc. bought a new stake in shares of Construction Partners in the 1st quarter valued at about $29,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Construction Partners by 2,750.0% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 285 shares of the company’s stock valued at $30,000 after acquiring an additional 275 shares during the last quarter. Finally, MAI Capital Management acquired a new stake in shares of Construction Partners in the 2nd quarter valued at approximately $44,000. Institutional investors own 94.83% of the company’s stock.

About Construction Partners

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.