Construction Partners (NASDAQ:ROAD) Stock Price Down 5.3% – What’s Next?

Construction Partners, Inc. (NASDAQ:ROAD)’s share price dropped 5.3% during trading on Tuesday . The company traded as low as $101.70 and last traded at $100.5420. 143,988 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 681,539 shares. The stock had previously closed at $106.20.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ROAD shares. Raymond James Financial decreased their target price on Construction Partners from $161.00 to $150.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, July 15th. Zacks Research cut shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 16th. Truist Financial initiated 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. Weiss Ratings raised shares of Construction Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Finally, Robert W. Baird reduced their price target on shares of Construction Partners from $145.00 to $141.00 and set an “outperform” rating for the company in a research report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $133.50.

Construction Partners Stock Performance

The company has a market cap of $5.64 billion, a price-to-earnings ratio of 38.95, a PEG ratio of 1.03 and a beta of 0.90. The firm’s 50 day simple moving average is $109.67 and its 200-day simple moving average is $116.39. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.26 and a current ratio of 1.57.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings results on Friday, August 7th. The company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.07. Construction Partners had a net margin of 4.10% and a return on equity of 16.06%. The firm had revenue of $999.42 million for the quarter, compared to the consensus estimate of $948.77 million. During the same period last year, the firm posted $0.81 earnings per share. The company’s revenue for the quarter was up 28.2% on a year-over-year basis. On average, sell-side analysts predict that Construction Partners, Inc. will post 3.02 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Morse Asset Management Inc grew its position in Construction Partners by 300.0% during the 3rd quarter. Morse Asset Management Inc now owns 240 shares of the company’s stock worth $30,000 after purchasing an additional 180 shares during the last quarter. Danske Bank A S purchased a new stake in Construction Partners during the 3rd quarter valued at approximately $38,000. Quarry LP acquired a new stake in Construction Partners during the 3rd quarter worth approximately $42,000. Harbor Investment Advisory LLC purchased 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 first quarter valued at approximately $39,000. 94.83% of the stock is owned by hedge funds and other 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.