Construction Partners (NASDAQ:ROAD) Shares Down 6.3% – What’s Next?

Shares of Construction Partners, Inc. (NASDAQ:ROAD) traded down 6.3% on Wednesday . The company traded as low as $108.93 and last traded at $108.1010. 112,142 shares changed hands during trading, a decline of 64% from the average session volume of 310,471 shares. The stock had previously closed at $115.33.

Analysts Set New Price Targets

ROAD has been the subject of a number of recent analyst reports. Raymond James Financial reiterated a “strong-buy” rating and issued a $135.00 target price (up from $120.00) on shares of Construction Partners in a research note on Tuesday, October 21st. Weiss Ratings reissued a “hold (c+)” rating on shares of Construction Partners in a report on Monday, December 29th. Bank of America cut their price target on shares of Construction Partners from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, November 21st. Zacks Research downgraded shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Finally, DA Davidson reissued a “neutral” rating and issued a $120.00 price objective on shares of Construction Partners in a report on Friday, November 21st. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $123.50.

Construction Partners Stock Performance

The company has a current ratio of 1.61, a quick ratio of 1.34 and a debt-to-equity ratio of 1.73. The company has a market cap of $6.25 billion, a price-to-earnings ratio of 60.40, a P/E/G ratio of 1.08 and a beta of 0.87. The stock’s fifty day simple moving average is $109.19 and its 200 day simple moving average is $112.97.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings results on Thursday, November 20th. The company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.04). Construction Partners had a net margin of 3.62% and a return on equity of 14.42%. The firm had revenue of $899.85 million for the quarter, compared to analyst estimates of $896.17 million. During the same period in the previous year, the firm posted $0.56 EPS. The company’s revenue was up 67.2% compared to the same quarter last year. As a group, analysts anticipate that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. MAI Capital Management raised its holdings in Construction Partners by 21.7% in the 3rd quarter. MAI Capital Management now owns 505 shares of the company’s stock valued at $64,000 after buying an additional 90 shares during the period. Handelsbanken Fonder AB increased its position in shares of Construction Partners by 0.8% during the second quarter. Handelsbanken Fonder AB now owns 12,000 shares of the company’s stock valued at $1,275,000 after acquiring an additional 100 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of Construction Partners by 2.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,794 shares of the company’s stock valued at $510,000 after acquiring an additional 118 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Construction Partners by 10.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,288 shares of the company’s stock worth $164,000 after acquiring an additional 124 shares during the last quarter. Finally, Byrne Asset Management LLC increased its holdings in Construction Partners by 41.7% in the 3rd quarter. Byrne Asset Management LLC now owns 425 shares of the company’s stock valued at $54,000 after purchasing an additional 125 shares during the last quarter. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

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.