Zacks Investment Research Lowers Construction Partners (NASDAQ:ROAD) to Hold

Construction Partners (NASDAQ:ROAD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday, Zacks.com reports.

According to Zacks, “Construction Partners Inc. is an infrastructure and road construction company. It provides construction products and services to public and private sectors. The company’s services include construction of highways, roads, bridges, airports and commercial and residential sites. Construction Partners Inc. is based in Alabama, United States. “

ROAD has been the topic of several other research reports. Bank of America lowered shares of Construction Partners from a “buy” rating to a “neutral” rating and lifted their price target for the company from $37.00 to $43.00 in a research report on Friday, November 19th. Stifel Nicolaus lifted their target price on shares of Construction Partners from $35.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $36.40.

Shares of Construction Partners stock opened at $36.75 on Thursday. The firm has a market capitalization of $1.92 billion, a PE ratio of 64.47, a P/E/G ratio of 3.05 and a beta of 1.02. Construction Partners has a twelve month low of $24.51 and a twelve month high of $44.99. The firm’s 50-day moving average price is $36.09 and its 200 day moving average price is $33.65. The company has a current ratio of 2.46, a quick ratio of 2.13 and a debt-to-equity ratio of 0.47.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings results on Tuesday, November 23rd. The company reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.25). The firm had revenue of $279.00 million for the quarter, compared to analysts’ expectations of $313.84 million. Construction Partners had a net margin of 3.48% and a return on equity of 8.39%. The firm’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.34 EPS. On average, sell-side analysts predict that Construction Partners will post 0.68 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the stock. Koshinski Asset Management Inc. acquired a new position in shares of Construction Partners in the third quarter worth $25,000. Great West Life Assurance Co. Can grew its stake in shares of Construction Partners by 77.3% in the first quarter. Great West Life Assurance Co. Can now owns 1,755 shares of the company’s stock worth $52,000 after acquiring an additional 765 shares in the last quarter. Captrust Financial Advisors grew its stake in shares of Construction Partners by 66.0% in the first quarter. Captrust Financial Advisors now owns 1,785 shares of the company’s stock worth $53,000 after acquiring an additional 710 shares in the last quarter. PNC Financial Services Group Inc. acquired a new position in shares of Construction Partners in the third quarter worth $54,000. Finally, PNC Managed Account Solutions Inc. acquired a new position in shares of Construction Partners in the second quarter worth $64,000. Hedge funds and other institutional investors own 66.93% of the company’s stock.

Construction Partners Company Profile

Construction Partners, Inc engages in construction of roadways and highways. It acquires road construction companies with services in asphalt production, paving and other construction services for both the public and private sectors. The company was founded by Ned N. Fleming, R. Alan Palmer & Charles E.

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