Zacks Investment Research downgraded shares of Construction Partners (NASDAQ:ROAD) from a hold rating to a sell rating in a research note issued to investors on Thursday.
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. “
Several other research analysts also recently commented on the company. Raymond James decreased their price objective on Construction Partners from $15.00 to $13.00 and set a strong-buy rating on the stock in a research note on Wednesday, December 12th. Imperial Capital set a $14.00 price objective on Construction Partners and gave the stock a buy rating in a research note on Monday, December 10th. DA Davidson set a $15.00 price objective on Construction Partners and gave the stock a buy rating in a research note on Friday, November 23rd. Finally, ValuEngine downgraded Construction Partners from a hold rating to a sell rating in a research note on Thursday, October 18th. Two research analysts have rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $14.00.
ROAD stock traded up $0.63 during trading on Thursday, reaching $10.99. The stock had a trading volume of 73,800 shares, compared to its average volume of 68,825. Construction Partners has a 52 week low of $7.70 and a 52 week high of $14.06. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.81 and a current ratio of 1.99. The company has a market cap of $532.65 million and a price-to-earnings ratio of 12.74.
Construction Partners (NASDAQ:ROAD) last posted its earnings results on Tuesday, December 11th. The company reported $0.29 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.29. The firm had revenue of $215.70 million during the quarter, compared to the consensus estimate of $215.45 million. Construction Partners’s revenue for the quarter was up 15.0% compared to the same quarter last year. Equities analysts predict that Construction Partners will post 0.79 earnings per share for the current year.
In other Construction Partners news, Director Ned N. Fleming III bought 4,000 shares of the firm’s stock in a transaction that occurred on Friday, December 21st. The shares were bought at an average price of $8.47 per share, with a total value of $33,880.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John L. Harper bought 9,000 shares of the firm’s stock in a transaction that occurred on Friday, December 14th. The shares were acquired at an average cost of $8.41 per share, for a total transaction of $75,690.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 14,500 shares of company stock worth $122,605 in the last three months.
A number of institutional investors and hedge funds have recently modified their holdings of ROAD. Credit Suisse AG bought a new stake in Construction Partners during the 3rd quarter valued at approximately $185,000. BlackRock Inc. bought a new stake in Construction Partners during the 2nd quarter valued at approximately $229,000. Raymond James & Associates bought a new stake in Construction Partners during the 2nd quarter valued at approximately $301,000. Mesirow Financial Investment Management Inc. raised its stake in Construction Partners by 20.6% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 32,888 shares of the company’s stock valued at $398,000 after purchasing an additional 5,623 shares during the period. Finally, Marshall Wace LLP bought a new stake in Construction Partners during the 3rd quarter valued at approximately $493,000. 20.53% of the stock is currently owned by institutional investors.
Construction Partners Company Profile
Construction Partners, Inc, an infrastructure and road construction company, provides construction products and services to public and private sectors. Its services cover construction of highways, roads, bridges, airports, and commercial and residential sites. The company provides site development, paving, utility and drainage systems, as well as supplies hot mix asphalt.
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