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

Construction Partners (NASDAQ:ROAD) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

ROAD has been the subject of several other reports. DA Davidson upped their target price on Construction Partners from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Thursday, October 23rd. Raymond James Financial reaffirmed a “strong-buy” rating and set a $135.00 target price (up from $120.00) on shares of Construction Partners in a research report on Tuesday, October 21st. Weiss Ratings reissued a “hold (c+)” rating on shares of Construction Partners in a report on Wednesday, October 8th. Baird R W upgraded shares of Construction Partners from a “hold” rating to a “strong-buy” rating in a report on Friday, August 8th. Finally, Robert W. Baird set a $122.00 price objective on shares of Construction Partners and gave the stock an “outperform” rating in a research report on Friday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $125.67.

Construction Partners Stock Performance

Shares of ROAD stock opened at $114.85 on Tuesday. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.47 and a quick ratio of 1.20. The firm has a 50-day moving average of $122.13 and a 200-day moving average of $109.37. Construction Partners has a one year low of $64.79 and a one year high of $138.90. The company has a market cap of $6.44 billion, a P/E ratio of 83.83, a P/E/G ratio of 0.99 and a beta of 1.02.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). Construction Partners had a return on equity of 12.24% and a net margin of 3.04%.The firm had revenue of $779.28 million during the quarter, compared to the consensus estimate of $810.47 million. During the same period in the previous year, the company posted $0.59 earnings per share. The company’s revenue for the quarter was up 50.5% on a year-over-year basis. Equities research analysts forecast that Construction Partners will post 1.96 EPS for the current fiscal year.

Hedge Funds Weigh In On Construction Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. TD Waterhouse Canada Inc. purchased a new position in shares of Construction Partners in the third quarter worth about $25,000. AlphaQuest LLC grew its stake in Construction Partners by 292.5% in the 3rd quarter. AlphaQuest LLC now owns 208 shares of the company’s stock valued at $26,000 after buying an additional 155 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in Construction Partners by 2,750.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 285 shares of the company’s stock valued at $30,000 after acquiring an additional 275 shares during the period. Mather Group LLC. bought a new stake in Construction Partners during the 3rd quarter valued at $47,000. Finally, First Horizon Corp purchased a new stake in shares of Construction Partners during the third quarter worth $49,000. Institutional investors own 94.83% of the company’s stock.

About Construction Partners

Construction Partners, Inc, a civil infrastructure company, constructs and maintains roadways in Alabama, Florida, Georgia, North Carolina, South Carolina, and Tennessee. The company provides various products and services to public and private infrastructure projects, such as highways, roads, bridges, airports, and commercial and residential developments.