S&P 500   4,594.62
DOW   34,899.34
QQQ   391.20
S&P 500   4,594.62
DOW   34,899.34
QQQ   391.20
S&P 500   4,594.62
DOW   34,899.34
QQQ   391.20
S&P 500   4,594.62
DOW   34,899.34
QQQ   391.20

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

Last updated on Thursday, November 25, 2021 | 2021 MarketBeat

Construction Partners (NASDAQ:ROAD) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a research report issued to clients and investors 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. "

Several other analysts have also commented on ROAD. Bank of America lowered Construction Partners from a "buy" rating to a "neutral" rating and lifted their price objective for the stock from $37.00 to $43.00 in a report on Friday, November 19th. Stifel Nicolaus lifted their price objective on Construction Partners from $35.00 to $40.00 and gave the stock a "buy" rating in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $36.40.

Construction Partners stock opened at $36.75 on Thursday. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of 64.47, a PEG ratio of 3.05 and a beta of 1.02. The stock has a fifty day simple moving average of $36.09 and a two-hundred day simple moving average of $33.65. Construction Partners has a 12 month low of $24.51 and a 12 month high of $44.99. 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 issued its quarterly earnings data 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). Construction Partners had a return on equity of 8.39% and a net margin of 3.48%. The firm had revenue of $279.00 million during the quarter, compared to the consensus estimate of $313.84 million. During the same period in the previous year, the firm earned $0.34 EPS. The business's revenue was up 24.2% on a year-over-year basis. On average, equities research analysts forecast that Construction Partners will post 0.68 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in ROAD. Ameriprise Financial Inc. lifted its position in shares of Construction Partners by 7.1% in the first quarter. Ameriprise Financial Inc. now owns 292,974 shares of the company's stock valued at $8,754,000 after acquiring an additional 19,469 shares in the last quarter. Captrust Financial Advisors lifted its position 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 buying an additional 710 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in shares of Construction Partners in the first quarter worth about $399,000. Royal Bank of Canada lifted its position in shares of Construction Partners by 20.7% in the first quarter. Royal Bank of Canada now owns 194,721 shares of the company's stock worth $5,817,000 after buying an additional 33,439 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Construction Partners by 16.4% in the first quarter. AQR Capital Management LLC now owns 12,292 shares of the company's stock worth $367,000 after buying an additional 1,734 shares in the last quarter. Institutional investors and hedge funds own 66.93% of the company's stock.

About Construction Partners

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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