Construction Partners (NASDAQ:ROAD) Lowered to Strong Sell Rating by Zacks Research

Zacks Research cut shares of Construction Partners (NASDAQ:ROAD) from a hold rating to a strong sell rating in a report issued on Monday morning,Zacks.com reports.

Several other research firms also recently issued reports on ROAD. DA Davidson reiterated a “neutral” rating and issued a $120.00 price objective on shares of Construction Partners in a report on Friday, November 21st. Bank of America dropped their target price on Construction Partners from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, November 21st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Construction Partners in a research note on Monday, December 29th. Raymond James Financial reissued a “strong-buy” rating and set a $135.00 price target (up previously from $120.00) on shares of Construction Partners in a research report on Tuesday, October 21st. Finally, Robert W. Baird dropped their price objective on shares of Construction Partners from $131.00 to $124.00 and set an “outperform” rating for the company 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, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Construction Partners currently has a consensus rating of “Moderate Buy” and an average price target of $123.50.

Construction Partners Trading Down 2.6%

Shares of Construction Partners stock traded down $3.01 during trading hours on Monday, hitting $112.53. The company’s stock had a trading volume of 156,313 shares, compared to its average volume of 390,927. The firm has a fifty day moving average of $109.22 and a 200-day moving average of $113.20. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.34 and a current ratio of 1.61. The stock has a market cap of $6.36 billion, a price-to-earnings ratio of 61.49, a P/E/G ratio of 1.12 and a beta of 0.87. Construction Partners has a twelve month low of $64.79 and a twelve month high of $138.90.

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

Hedge Funds Weigh In On Construction Partners

Hedge funds have recently modified their holdings of the business. MAI Capital Management increased its stake in Construction Partners by 21.7% in the third quarter. MAI Capital Management now owns 505 shares of the company’s stock valued at $64,000 after purchasing an additional 90 shares during the period. Handelsbanken Fonder AB grew its holdings 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 worth $1,275,000 after buying an additional 100 shares during the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of Construction Partners by 2.5% during the second quarter. Ameritas Investment Partners Inc. now owns 4,794 shares of the company’s stock worth $510,000 after buying an additional 118 shares during the last quarter. GAMMA Investing LLC increased its position in Construction Partners by 10.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,288 shares of the company’s stock valued at $164,000 after acquiring an additional 124 shares during the period. Finally, Byrne Asset Management LLC raised its stake in Construction Partners by 41.7% during the 3rd quarter. Byrne Asset Management LLC now owns 425 shares of the company’s stock valued at $54,000 after acquiring 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.