Construction Partners (NASDAQ:ROAD) Stock Price Down 10.3% on Analyst Downgrade

Shares of Construction Partners, Inc. (NASDAQ:ROAD) dropped 10.3% on Wednesday after Robert W. Baird lowered their price target on the stock from $169.00 to $145.00. Robert W. Baird currently has an outperform rating on the stock. Construction Partners traded as low as $104.31 and last traded at $106.5810. Approximately 114,227 shares were traded during mid-day trading, a decline of 80% from the average session volume of 561,273 shares. The stock had previously closed at $118.77.

A number of other equities research analysts have also recently issued reports on ROAD. B. Riley Financial upgraded shares of Construction Partners from a “neutral” rating to a “buy” rating and increased their target price for the stock from $117.00 to $135.00 in a research report on Thursday, April 2nd. Zacks Research lowered shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Weiss Ratings cut shares of Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Truist Financial began coverage on shares of Construction Partners in a report on Wednesday, June 3rd. They set a “hold” rating and a $130.00 price objective for the company. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $140.00 target price on shares of Construction Partners in a research note on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Construction Partners has an average rating of “Moderate Buy” and an average target price of $132.50.

Institutional Trading of Construction Partners

Institutional investors have recently bought and sold shares of the business. Morse Asset Management Inc increased its holdings in Construction Partners by 300.0% in the third quarter. Morse Asset Management Inc now owns 240 shares of the company’s stock valued at $30,000 after purchasing an additional 180 shares during the last quarter. Danske Bank A S bought a new position in shares of Construction Partners during the third quarter worth $38,000. Quarry LP bought a new position in shares of Construction Partners during the third quarter worth $42,000. Harbor Investment Advisory LLC acquired a new position in shares of Construction Partners in the 1st quarter valued at $39,000. Finally, Hollencrest Capital Management acquired a new position in shares of Construction Partners in the 1st quarter valued at $39,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

Construction Partners Stock Performance

The firm has a market cap of $6.17 billion, a P/E ratio of 47.90, a PEG ratio of 1.00 and a beta of 0.88. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.21 and a current ratio of 1.53. The stock’s 50-day moving average is $119.49 and its 200 day moving average is $118.14.

Construction Partners (NASDAQ:ROAD) last announced its earnings results on Friday, May 8th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.23. Construction Partners had a net margin of 3.90% and a return on equity of 15.22%. The firm had revenue of $769.20 million for the quarter, compared to the consensus estimate of $678.46 million. During the same period last year, the company posted $0.08 EPS. The business’s quarterly revenue was up 34.6% on a year-over-year basis. On average, research analysts predict that Construction Partners, Inc. will post 2.95 earnings per share for the current year.

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.