Construction Partners (NASDAQ:ROAD) Stock Rating Lowered by Zacks Research

Construction Partners (NASDAQ:ROAD) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday, Zacks reports.

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

Construction Partners Price Performance

Shares of NASDAQ ROAD opened at $84.03 on Tuesday. Construction Partners has a 1 year low of $74.51 and a 1 year high of $151.00. 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 company’s 50-day moving average is $90.43 and its 200 day moving average is $109.91. The stock has a market capitalization of $4.77 billion, a P/E ratio of 32.95, a P/E/G ratio of 0.68 and a beta of 0.94.

Hedge Funds Weigh In On Construction Partners

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Advisors Asset Management Inc. purchased a new position in shares of Construction Partners during the third quarter valued at approximately $8,104,000. GW&K Investment Management LLC grew its stake in shares of Construction Partners by 114.8% in the 3rd quarter. GW&K Investment Management LLC now owns 1,091 shares of the company’s stock worth $98,000 after buying an additional 583 shares during the last quarter. USS Investment Management Ltd purchased a new stake in shares of Construction Partners in the 3rd quarter worth approximately $10,859,000. Ieq Capital LLC purchased a new stake in shares of Construction Partners in the 3rd quarter worth approximately $203,000. Finally, Harbour Wealth Management Group Inc. increased its position in Construction Partners by 14.8% during the 3rd quarter. Harbour Wealth Management Group Inc. now owns 4,368 shares of the company’s stock valued at $393,000 after buying an additional 562 shares in the last quarter. 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.