Construction Partners (NASDAQ:ROAD) Downgraded by Zacks Research to Hold

Zacks Research cut shares of Construction Partners (NASDAQ:ROAD) from a strong-buy rating to a hold rating in a research report report published on Thursday,Zacks.com reports.

Several other equities research analysts have also recently commented on the company. Truist Financial started coverage on Construction Partners in a research note on Wednesday, June 3rd. They issued a “hold” rating and a $130.00 target price for the company. Raymond James Financial cut their price target on Construction Partners from $161.00 to $150.00 and set a “strong-buy” rating on the stock in a research note on Wednesday. B. Riley Financial upgraded Construction Partners from a “neutral” rating to a “buy” rating and raised their price target for the company from $117.00 to $135.00 in a report on Thursday, April 2nd. Weiss Ratings lowered Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Finally, Robert W. Baird dropped their price objective on Construction Partners from $169.00 to $145.00 and set an “outperform” rating for the company in a report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $134.17.

Construction Partners Price Performance

ROAD opened at $104.47 on Thursday. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.53 and a quick ratio of 1.21. The stock has a market capitalization of $5.91 billion, a P/E ratio of 45.82, a price-to-earnings-growth ratio of 0.86 and a beta of 0.88. The company’s 50 day simple moving average is $113.53 and its 200-day simple moving average is $117.32. Construction Partners has a one year low of $93.22 and a one year high of $151.00.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings data on Friday, May 8th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.23. Construction Partners had a net margin of 3.90% and a return on equity of 15.22%. The firm had revenue of $769.20 million during the quarter, compared to analysts’ expectations of $678.46 million. During the same quarter in the previous year, the company posted $0.08 EPS. Construction Partners’s revenue was up 34.6% on a year-over-year basis. Sell-side analysts anticipate that Construction Partners will post 2.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Morse Asset Management Inc increased its holdings 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 worth $30,000 after acquiring an additional 180 shares in the last quarter. Danske Bank A S bought a new position in shares of Construction Partners during the 3rd quarter valued at about $38,000. Quarry LP bought a new position in shares of Construction Partners during the 3rd quarter valued at about $42,000. Harbor Investment Advisory LLC acquired a new position in shares of Construction Partners in the 1st quarter valued at approximately $39,000. Finally, Hollencrest Capital Management acquired a new position in shares of Construction Partners in the 1st quarter valued at approximately $39,000. 94.83% of the stock is currently owned by institutional investors.

Construction Partners Company Profile

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.