Construction Partners (NASDAQ:ROAD) Trading Down 5.3% – Here’s What Happened

Construction Partners, Inc. (NASDAQ:ROAD) shares traded down 5.3% during mid-day trading on Thursday . The company traded as low as $96.93 and last traded at $96.53. 325,022 shares changed hands during trading, a decline of 43% from the average session volume of 574,011 shares. The stock had previously closed at $101.90.

Wall Street Analysts Forecast Growth

ROAD has been the subject of several analyst reports. Zacks Research raised Construction Partners from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Weiss Ratings lowered Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Robert W. Baird reduced their price target on Construction Partners from $169.00 to $145.00 and set an “outperform” rating for the company in a research report on Wednesday, July 1st. B. Riley Financial raised Construction Partners from a “neutral” rating to a “buy” rating and boosted their price target for the company from $117.00 to $135.00 in a report on Thursday, April 2nd. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $140.00 price objective on shares of Construction Partners in a research report on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $132.50.

Construction Partners Stock Performance

The business’s 50-day simple moving average is $117.58 and its two-hundred day simple moving average is $117.99. The company has a quick ratio of 1.21, a current ratio of 1.53 and a debt-to-equity ratio of 1.75. The firm has a market cap of $5.42 billion, a price-to-earnings ratio of 42.09, a P/E/G ratio of 0.86 and a beta of 0.88.

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

Institutional Trading of Construction Partners

Institutional investors have recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Construction Partners by 30.7% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,391 shares of the company’s stock worth $403,000 after purchasing an additional 797 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Construction Partners by 29.5% during the second quarter. GAMMA Investing LLC now owns 3,824 shares of the company’s stock worth $454,000 after buying an additional 872 shares in the last quarter. Hilltop National Bank grew its holdings in shares of Construction Partners by 8.5% during the second quarter. Hilltop National Bank now owns 2,452 shares of the company’s stock worth $291,000 after buying an additional 192 shares in the last quarter. PVG Asset Management Corp raised its position in shares of Construction Partners by 510.4% in the first quarter. PVG Asset Management Corp now owns 14,614 shares of the company’s stock valued at $1,758,000 after buying an additional 12,220 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of Construction Partners by 11.5% in the first quarter. Janus Henderson Group PLC now owns 22,367 shares of the company’s stock worth $2,488,000 after buying an additional 2,300 shares in the last quarter. 94.83% of the stock is owned by institutional investors and hedge funds.

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.