Construction Partners (NASDAQ:ROAD) Downgraded to "Hold" Rating by Zacks Research

Construction Partners (NASDAQ:ROAD - Get Free Report) was downgraded by stock analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report issued on Monday,Zacks.com reports.

Several other analysts have also issued reports on the stock. B. Riley Financial raised shares of Construction Partners from a "neutral" rating to a "buy" rating and boosted their price target for the company from $117.00 to $135.00 in a research report on Thursday, April 2nd. Raymond James Financial reissued a "strong-buy" rating and issued a $140.00 price target on shares of Construction Partners in a research report on Monday. Weiss Ratings raised shares of Construction Partners from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, April 21st. Robert W. Baird set a $142.00 target price on shares of Construction Partners in a report on Friday, February 6th. Finally, DA Davidson upped their target price on shares of Construction Partners from $120.00 to $130.00 and gave the stock a "neutral" rating in a report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Construction Partners has an average rating of "Moderate Buy" and an average target price of $132.40.

Construction Partners Stock Down 3.1%

Construction Partners stock opened at $117.08 on Monday. The stock has a market cap of $6.62 billion, a PE ratio of 53.22, a price-to-earnings-growth ratio of 1.07 and a beta of 0.92. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.26 and a current ratio of 1.59. Construction Partners has a fifty-two week low of $77.76 and a fifty-two week high of $141.90. The firm's 50-day simple moving average is $119.69 and its 200 day simple moving average is $115.67.

Construction Partners (NASDAQ:ROAD - Get Free Report) last announced its quarterly earnings data on Thursday, February 5th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.31 by $0.16. The business had revenue of $809.47 million for the quarter, compared to analyst estimates of $740.14 million. Construction Partners had a net margin of 3.99% and a return on equity of 15.26%. The company's revenue for the quarter was up 44.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.25 earnings per share. Research analysts predict that Construction Partners will post 2.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Construction Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of ROAD. TD Waterhouse Canada Inc. purchased a new position in Construction Partners in the 3rd quarter worth approximately $25,000. AlphaQuest LLC boosted its stake in shares of Construction Partners by 292.5% in the 3rd quarter. AlphaQuest LLC now owns 208 shares of the company's stock valued at $26,000 after purchasing an additional 155 shares in the last quarter. Morse Asset Management Inc boosted its stake in shares of Construction Partners by 300.0% in the 3rd quarter. Morse Asset Management Inc now owns 240 shares of the company's stock valued at $30,000 after purchasing an additional 180 shares in the last quarter. Danske Bank A S purchased a new stake in shares of Construction Partners in the 3rd quarter valued at $38,000. Finally, Harbor Investment Advisory LLC purchased a new stake in shares of Construction Partners in the 1st quarter valued at $39,000. Hedge funds and other institutional investors own 94.83% of the company's stock.

Construction Partners Company Profile

Construction Partners, Inc NASDAQ: ROAD is a specialty contractor and infrastructure solutions provider focused on road building, paving, site development and aggregate production. The company delivers a comprehensive suite of civil construction services, including roadway paving and milling, site grading and preparation, stormwater and utility installation, and full-scale asphalt plant operations. By integrating materials production with contracting capabilities, the firm aims to streamline project delivery and maintain quality control across its contracting and materials businesses.

At the heart of Construction Partners' operations are its network of asphalt plants, quarries and aggregate production facilities.

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