Construction Partners (NASDAQ:ROAD) Cut to Hold at Zacks Research

Construction Partners (NASDAQ:ROAD) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

A number of other equities analysts also recently weighed in on ROAD. 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. Truist Financial initiated coverage on Construction Partners in a research report on Wednesday, June 3rd. They issued a “hold” rating and a $130.00 price objective for the company. Weiss Ratings downgraded Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Robert W. Baird decreased their target price on Construction Partners from $169.00 to $145.00 and set an “outperform” rating on the stock in a report on Wednesday, July 1st. Finally, B. Riley Financial upgraded Construction Partners from a “neutral” rating to a “buy” rating and increased their price target for the company from $117.00 to $135.00 in a research note on Thursday, April 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Construction Partners presently has an average rating of “Moderate Buy” and an average target price of $134.17.

Construction Partners Stock Up 2.0%

NASDAQ:ROAD opened at $104.47 on Thursday. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.21 and a current ratio of 1.53. The company has a market cap of $5.91 billion, a PE ratio of 45.82, a PEG ratio of 0.86 and a beta of 0.88. Construction Partners has a 52-week low of $93.22 and a 52-week high of $151.00. The stock has a 50-day simple moving average of $113.53 and a 200 day simple moving average of $117.32.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings results on Friday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.23. The firm had revenue of $769.20 million for the quarter, compared to analyst estimates of $678.46 million. Construction Partners had a net margin of 3.90% and a return on equity of 15.22%. The company’s revenue was up 34.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.08 EPS. On average, sell-side analysts expect that Construction Partners will post 2.91 EPS for the current fiscal year.

Institutional Investors Weigh In On Construction Partners

A number of institutional investors have recently modified their holdings of ROAD. Morse Asset Management Inc grew its stake in shares of Construction Partners by 300.0% in the third quarter. Morse Asset Management Inc now owns 240 shares of the company’s stock valued at $30,000 after acquiring an additional 180 shares in the last quarter. Danske Bank A S bought a new position in Construction Partners during the third quarter worth about $38,000. Harbor Investment Advisory LLC acquired a new stake in Construction Partners in the 1st quarter worth about $39,000. Hollencrest Capital Management bought a new stake in Construction Partners in the 1st quarter valued at about $39,000. Finally, Quarry LP acquired a new position in shares of Construction Partners during the 3rd quarter worth approximately $42,000. Institutional investors own 94.83% of the company’s stock.

About Construction Partners

Construction Partners, Inc (NASDAQ: ROAD) is a specialty contractor and infrastructure solutions provider focused on road building, paving, site development and aggregate production. The company delivers a comprehensive suite of civil construction services, including roadway paving and milling, site grading and preparation, stormwater and utility installation, and full-scale asphalt plant operations. By integrating materials production with contracting capabilities, the firm aims to streamline project delivery and maintain quality control across its contracting and materials businesses.

At the heart of Construction Partners’ operations are its network of asphalt plants, quarries and aggregate production facilities.