Construction Partners (NASDAQ:ROAD) Downgraded by ValuEngine to “Sell”

ValuEngine lowered shares of Construction Partners (NASDAQ:ROAD) from a hold rating to a sell rating in a research report report published on Monday, ValuEngine reports.

Several other analysts also recently weighed in on ROAD. Imperial Capital reiterated an outperform rating and issued a $17.25 target price (up previously from $15.50) on shares of Construction Partners in a report on Thursday, August 15th. Zacks Investment Research upgraded shares of Construction Partners from a hold rating to a strong-buy rating and set a $17.00 target price for the company in a report on Wednesday, August 14th. Finally, Raymond James lifted their target price on shares of Construction Partners from $15.00 to $16.50 and gave the company a strong-buy rating in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, two have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of Buy and an average price target of $16.44.

Construction Partners stock opened at $16.22 on Monday. Construction Partners has a fifty-two week low of $7.70 and a fifty-two week high of $16.58. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.69 and a current ratio of 1.97. The firm has a 50 day moving average price of $15.04 and a 200 day moving average price of $13.67. The company has a market capitalization of $804.66 million, a PE ratio of 18.86 and a beta of 1.90.

Construction Partners (NASDAQ:ROAD) last posted its earnings results on Thursday, August 8th. The company reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.04. Construction Partners had a net margin of 5.48% and a return on equity of 13.47%. The firm had revenue of $227.30 million during the quarter, compared to the consensus estimate of $229.67 million. During the same quarter last year, the firm earned $0.29 EPS. The firm’s revenue for the quarter was up 16.5% on a year-over-year basis. As a group, equities research analysts forecast that Construction Partners will post 0.85 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. grew its stake in shares of Construction Partners by 713.6% in the second quarter. BlackRock Inc. now owns 723,838 shares of the company’s stock worth $10,871,000 after acquiring an additional 634,868 shares in the last quarter. Royce & Associates LP grew its stake in shares of Construction Partners by 58.0% in the first quarter. Royce & Associates LP now owns 666,105 shares of the company’s stock worth $8,506,000 after acquiring an additional 244,505 shares in the last quarter. Wasatch Advisors Inc. grew its stake in shares of Construction Partners by 19.4% in the second quarter. Wasatch Advisors Inc. now owns 1,341,330 shares of the company’s stock worth $20,147,000 after acquiring an additional 218,102 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Construction Partners in the second quarter worth $1,436,000. Finally, Wells Fargo & Company MN grew its stake in shares of Construction Partners by 545.8% in the second quarter. Wells Fargo & Company MN now owns 91,765 shares of the company’s stock worth $1,378,000 after acquiring an additional 77,555 shares in the last quarter. Hedge funds and other institutional investors own 23.31% of the company’s stock.

Construction Partners Company Profile

Construction Partners, Inc, an infrastructure and road construction company, provides construction products and services to public and private sectors. It offers construction of highways, roads, bridges, airports, and commercial and residential sites. The company provides a range of sitework construction services, including site development, paving, and utility and drainage systems construction, as well as supplies hot mix asphalt required for the projects.

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