Construction Partners (NASDAQ:ROAD) Rating Lowered to Strong Sell at BidaskClub

Construction Partners (NASDAQ:ROAD) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Friday, BidAskClub reports.

Several other research analysts have also weighed in on ROAD. TheStreet lowered Construction Partners from a “b-” rating to a “c+” rating in a research report on Friday, July 24th. Bank of America cut their target price on Construction Partners from $20.00 to $17.00 and set a “buy” rating on the stock in a research report on Friday, May 15th. Raymond James lowered Construction Partners from a “strong-buy” rating to an “outperform” rating and set a $18.00 target price on the stock. in a research report on Tuesday, May 12th. DA Davidson downgraded Construction Partners from a “buy” rating to a “neutral” rating and lowered their price target for the company from $20.00 to $18.00 in a report on Thursday, April 9th. Finally, Zacks Investment Research upgraded Construction Partners from a “sell” rating to a “hold” rating in a report on Tuesday, July 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $18.17.

Shares of ROAD traded up $0.51 during trading hours on Friday, hitting $16.55. The stock had a trading volume of 184,568 shares, compared to its average volume of 189,054. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.79 and a current ratio of 2.15. The firm has a market cap of $856.98 million, a P/E ratio of 20.95, a P/E/G ratio of 4.20 and a beta of 0.97. The company’s fifty day simple moving average is $16.91 and its 200 day simple moving average is $16.80. Construction Partners has a 12-month low of $11.96 and a 12-month high of $20.92.

Construction Partners (NASDAQ:ROAD) last issued its earnings results on Friday, May 8th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.03). The firm had revenue of $168.68 million during the quarter, compared to analysts’ expectations of $166.41 million. Construction Partners had a return on equity of 11.90% and a net margin of 5.04%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business posted $0.08 earnings per share. As a group, sell-side analysts predict that Construction Partners will post 0.66 earnings per share for the current fiscal year.

In other news, Director Suntx Capital Management Corp. sold 5,750,000 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $16.00, for a total transaction of $92,000,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 63.94% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the stock. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Construction Partners in the second quarter worth about $44,000. Legal & General Group Plc grew its stake in Construction Partners by 24.7% in the first quarter. Legal & General Group Plc now owns 3,905 shares of the company’s stock worth $60,000 after purchasing an additional 773 shares in the last quarter. Citigroup Inc. grew its stake in Construction Partners by 43.5% in the first quarter. Citigroup Inc. now owns 5,149 shares of the company’s stock worth $87,000 after purchasing an additional 1,562 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in Construction Partners by 54.0% in the first quarter. BNP Paribas Arbitrage SA now owns 5,552 shares of the company’s stock worth $94,000 after purchasing an additional 1,947 shares in the last quarter. Finally, US Bancorp DE grew its stake in Construction Partners by 65.8% in the first quarter. US Bancorp DE now owns 5,835 shares of the company’s stock worth $99,000 after purchasing an additional 2,315 shares in the last quarter. Institutional investors and hedge funds own 68.70% of the company’s stock.

About Construction Partners

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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Analyst Recommendations for Construction Partners (NASDAQ:ROAD)

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