Construction Partners (NASDAQ:ROAD) Stock Rating Cut to Strong Sell at Zacks Research

Zacks Research lowered shares of Construction Partners (NASDAQ:ROAD) from a hold rating to a strong sell rating in a research report report published on Tuesday,Zacks reports.

Several other analysts have also recently issued reports on the company. B. Riley Financial cut their target price on Construction Partners from $135.00 to $100.00 and set a “buy” rating for the company in a research report on Monday. Weiss Ratings cut Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, September 17th. Raymond James Financial reissued a “strong-buy” rating and issued a $125.00 price target on shares of Construction Partners in a report on Friday, November 6th. Truist Financial dropped their price target on Construction Partners from $130.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, November 6th. Finally, Robert W. Baird cut their price objective on shares of Construction Partners from $145.00 to $141.00 and set an “outperform” rating for the company in a report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Construction Partners has an average rating of “Moderate Buy” and an average target price of $116.83.

Construction Partners Price Performance

NASDAQ:ROAD opened at $84.03 on Tuesday. The company has a quick ratio of 1.26, a current ratio of 1.57 and a debt-to-equity ratio of 1.68. The business’s 50-day simple moving average is $90.43 and its two-hundred day simple moving average is $109.91. The stock has a market cap of $4.77 billion, a PE ratio of 32.95, a P/E/G ratio of 0.68 and a beta of 0.94. Construction Partners has a 52 week low of $74.51 and a 52 week high of $151.00.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ROAD. State of Alaska Department of Revenue boosted its stake in Construction Partners by 95.2% during the third quarter. State of Alaska Department of Revenue now owns 16,137 shares of the company’s stock valued at $1,452,000 after buying an additional 7,872 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Construction Partners by 3.2% during the 1st quarter. Bank of New York Mellon Corp now owns 579,757 shares of the company’s stock valued at $64,423,000 after buying an additional 17,851 shares in the last quarter. Wasatch Advisors LP grew its holdings in Construction Partners by 20.6% during the 2nd quarter. Wasatch Advisors LP now owns 1,008,474 shares of the company’s stock valued at $119,776,000 after buying an additional 172,034 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Construction Partners by 11.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 587,477 shares of the company’s stock valued at $65,271,000 after buying an additional 58,908 shares in the last quarter. Finally, PVG Asset Management Corp increased its stake in Construction Partners by 510.4% in the 1st quarter. PVG Asset Management Corp now owns 14,614 shares of the company’s stock worth $1,758,000 after acquiring an additional 12,220 shares during the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

About Construction Partners

Construction Partners, Inc. is a civil infrastructure company that builds and maintains roads, highways, and other transportation-related projects. Its services include roadway paving, site development, milling and resurfacing, and related construction work for public and private customers. The company also produces and supplies materials used in its projects, including hot-mix asphalt and aggregates. Its vertically integrated operations combine construction services with materials production and distribution.