Construction Partners (NASDAQ:ROAD) Trading Down 5.2% – Here’s Why

Construction Partners, Inc. (NASDAQ:ROAD) shares fell 5.2% during trading on Thursday . The stock traded as low as $105.85 and last traded at $107.0120. 620,224 shares changed hands during mid-day trading, an increase of 12% from the average session volume of 555,509 shares. The stock had previously closed at $112.90.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Zacks Research raised shares of Construction Partners from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 29th. DA Davidson lifted their price target on Construction Partners from $120.00 to $130.00 and gave the company a “neutral” rating in a report on Friday, February 6th. Weiss Ratings reissued a “hold (c+)” rating on shares of Construction Partners in a research report on Monday, December 29th. Robert W. Baird set a $142.00 price objective on Construction Partners in a research report on Friday, February 6th. Finally, B. Riley Financial upgraded Construction Partners from a “neutral” rating to a “buy” rating and upped their target price for the company from $117.00 to $135.00 in a report on Thursday. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $131.40.

Construction Partners Stock Performance

The stock has a market cap of $5.98 billion, a P/E ratio of 48.38, a price-to-earnings-growth ratio of 0.98 and a beta of 0.92. The company has a current ratio of 1.59, a quick ratio of 1.26 and a debt-to-equity ratio of 1.76. The stock has a 50 day simple moving average of $121.73 and a 200 day simple moving average of $117.18.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings results on Thursday, February 5th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.16. Construction Partners had a return on equity of 15.26% and a net margin of 3.99%.The company had revenue of $809.47 million for the quarter, compared to analyst estimates of $740.14 million. During the same quarter last year, the company posted $0.25 EPS. The company’s revenue for the quarter was up 44.1% compared to the same quarter last year. On average, equities analysts expect that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

Institutional Investors Weigh In On Construction Partners

Institutional investors and hedge funds have recently made changes to their positions in the business. TD Waterhouse Canada Inc. bought a new stake in Construction Partners in the 3rd quarter worth about $25,000. AlphaQuest LLC grew its holdings in shares of Construction Partners by 292.5% in the third quarter. AlphaQuest LLC now owns 208 shares of the company’s stock valued at $26,000 after acquiring an additional 155 shares in the last quarter. Morse Asset Management Inc increased its position in shares of Construction Partners by 300.0% during the third quarter. Morse Asset Management Inc now owns 240 shares of the company’s stock valued at $30,000 after acquiring an additional 180 shares during the last quarter. Danske Bank A S bought a new stake in Construction Partners during the third quarter worth $38,000. Finally, Quarry LP purchased a new position in Construction Partners in the third quarter worth $42,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

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.