Construction Partners (NASDAQ:ROAD) Hits New 12-Month Low – What’s Next?

Construction Partners, Inc. (NASDAQ:ROAD) shares reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $92.19 and last traded at $93.57, with a volume of 32088 shares traded. The stock had previously closed at $96.71.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ROAD. Robert W. Baird lowered their price objective on shares of Construction Partners from $145.00 to $141.00 and set an “outperform” rating for the company in a research note on Monday, August 10th. Weiss Ratings lowered shares of Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, September 17th. Zacks Research downgraded shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 16th. Truist Financial assumed coverage on shares of Construction Partners in a report on Wednesday, June 3rd. They set a “hold” rating and a $130.00 price objective on the stock. Finally, Raymond James Financial reduced their price objective on shares of Construction Partners from $161.00 to $150.00 and set a “strong-buy” rating for the company in a research note on Wednesday, July 15th. One 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 company’s stock. Based on data from MarketBeat, Construction Partners presently has an average rating of “Moderate Buy” and an average price target of $133.50.

Construction Partners Price Performance

The firm has a market capitalization of $5.28 billion, a P/E ratio of 36.29, a P/E/G ratio of 0.87 and a beta of 0.90. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.57 and a quick ratio of 1.26. The stock’s fifty day simple moving average is $106.12 and its 200 day simple moving average is $112.36.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings results on Friday, August 7th. The company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.07. The business had revenue of $999.42 million for the quarter, compared to analysts’ expectations of $948.77 million. Construction Partners had a net margin of 4.10% and a return on equity of 16.06%. The company’s revenue was up 28.2% compared to the same quarter last year. During the same period last year, the business earned $0.81 EPS. On average, equities research analysts predict that Construction Partners, Inc. will post 3.04 EPS for the current year.

Institutional Trading of Construction Partners

Several hedge funds and other institutional investors have recently made changes to their positions in ROAD. NFSG Corp lifted its holdings in shares of Construction Partners by 8.7% during the first quarter. NFSG Corp now owns 1,251 shares of the company’s stock worth $139,000 after purchasing an additional 100 shares during the period. ANB Bank increased its stake in Construction Partners by 3.4% in the 1st quarter. ANB Bank now owns 4,258 shares of the company’s stock valued at $473,000 after buying an additional 140 shares during the period. The Manufacturers Life Insurance Company increased its stake in Construction Partners by 0.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 23,151 shares of the company’s stock valued at $2,573,000 after buying an additional 149 shares during the period. Hilltop National Bank raised its position in Construction Partners by 8.5% during the 2nd quarter. Hilltop National Bank now owns 2,452 shares of the company’s stock worth $291,000 after buying an additional 192 shares during the last quarter. Finally, AXQ Capital LP lifted its stake in shares of Construction Partners by 8.6% in the 2nd quarter. AXQ Capital LP now owns 2,626 shares of the company’s stock worth $312,000 after acquiring an additional 207 shares during the period. Hedge funds and other institutional investors own 94.83% of the company’s stock.

About Construction Partners

Construction Partners, Inc is an infrastructure-services company that specializes in the construction and maintenance of roads and other transportation-related projects. Operating primarily in the southeastern United States, the company serves public-sector customers, commercial developers and private entities.

The company’s activities include asphalt production and paving, road construction, highway and bridge work, site development, grading, milling and related infrastructure services.