Construction Partners (NASDAQ:ROAD) Hits New 12-Month Low – Should You Sell?

Construction Partners, Inc. (NASDAQ:ROAD) shares reached a new 52-week low during trading on Wednesday. The company traded as low as $87.42 and last traded at $86.8710, with a volume of 130027 shares trading hands. The stock had previously closed at $93.89.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ROAD shares. Raymond James Financial lowered their price target on Construction Partners from $161.00 to $150.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, July 15th. Zacks Research lowered Construction Partners from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 16th. Robert W. Baird dropped their target price on Construction Partners from $145.00 to $141.00 and set an “outperform” rating for the company in a research report on Monday, August 10th. Finally, Weiss Ratings lowered 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 issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $133.50.

Construction Partners Price Performance

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 business’s 50 day moving average price is $103.07 and its two-hundred day moving average price is $110.11. The stock has a market cap of $5.01 billion, a P/E ratio of 34.64, a price-to-earnings-growth ratio of 0.65 and a beta of 0.93.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings data on Friday, August 7th. The company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.01 by $0.07. The business had revenue of $999.42 million during the quarter, compared to analyst estimates of $948.77 million. Construction Partners had a return on equity of 16.06% and a net margin of 4.10%.The company’s revenue for the quarter was up 28.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.81 earnings per share. As a group, sell-side analysts expect that Construction Partners, Inc. will post 3.08 earnings per share for the current fiscal year.

Institutional Trading of Construction Partners

Several large investors have recently modified their holdings of ROAD. Wasatch Advisors LP increased its holdings in Construction Partners by 20.6% in the 2nd 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 in the last quarter. First Trust Advisors LP lifted its holdings in Construction Partners by 29.6% during the first quarter. First Trust Advisors LP now owns 1,030,378 shares of the company’s stock valued at $114,496,000 after purchasing an additional 235,616 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Construction Partners by 19.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 967,350 shares of the company’s stock worth $109,214,000 after purchasing an additional 156,469 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Construction Partners in the second quarter worth approximately $78,248,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Construction Partners by 11.1% in the first quarter. Dimensional Fund Advisors LP now owns 587,477 shares of the company’s stock worth $65,271,000 after purchasing an additional 58,908 shares during the period. Institutional investors own 94.83% of the company’s stock.

Construction Partners Company Profile

Construction Partners, Inc (NASDAQ:ROAD) is a vertically integrated civil infrastructure company that builds and maintains transportation infrastructure in the southeastern United States. The company serves public and private-sector customers, including state and local governments, commercial developers, and other contractors.

Its primary activities include the production and sale of hot-mix asphalt, aggregate production, asphalt paving, grading, site development, and road construction.