Construction Partners (NASDAQ:ROAD) Hits New 12-Month Low – Here’s Why

Construction Partners, Inc. (NASDAQ:ROAD) shares reached a new 52-week low during mid-day trading on Wednesday. The company traded as low as $87.42 and last traded at $86.8710, with a volume of 130027 shares trading hands. The stock had previously closed at $93.89.

Analyst Ratings Changes

ROAD has been the subject of several research reports. Zacks Research downgraded Construction Partners from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 16th. Raymond James Financial reduced their target price on shares of Construction Partners from $161.00 to $150.00 and set a “strong-buy” rating for the company in a report on Wednesday, July 15th. Robert W. Baird decreased their price target on shares of Construction Partners from $145.00 to $141.00 and set an “outperform” rating on the stock in a research note on Monday, August 10th. Finally, Weiss Ratings downgraded shares of Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $133.50.

Construction Partners Stock Down 6.3%

The stock’s fifty day simple moving average is $103.64 and its 200-day simple moving average is $110.40. The stock has a market cap of $5.00 billion, a P/E ratio of 34.52, a P/E/G ratio of 0.66 and a beta of 0.93. 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 issued its quarterly earnings results on Friday, August 7th. The company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.07. The business had revenue of $999.42 million during the quarter, compared to analysts’ expectations of $948.77 million. Construction Partners had a return on equity of 16.06% and a net margin of 4.10%.The firm’s revenue for the quarter was up 28.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.81 earnings per share. As a group, research analysts forecast that Construction Partners, Inc. will post 3.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Sequoia Financial Advisors LLC acquired a new stake in Construction Partners during the second quarter worth about $242,000. Engineers Gate Manager LP acquired a new stake in shares of Construction Partners during the 2nd quarter worth approximately $733,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Construction Partners during the 2nd quarter worth approximately $90,000. Nykredit A S acquired a new position in Construction Partners during the second quarter valued at approximately $259,000. Finally, Corient Private Wealth LP raised its position in Construction Partners by 69.5% during the second quarter. Corient Private Wealth LP now owns 33,590 shares of the company’s stock valued at $3,989,000 after purchasing an additional 13,770 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.

Construction Partners Company Profile

Construction Partners, Inc (NASDAQ:ROAD) is a vertically integrated civil infrastructure company that builds and maintains transportation infrastructure in the southeastern United States. The company serves public and private-sector customers, including state and local governments, commercial developers, and other contractors.

Its primary activities include the production and sale of hot-mix asphalt, aggregate production, asphalt paving, grading, site development, and road construction.