Construction Partners (NASDAQ:ROAD) was upgraded by Zacks Investment Research from a "sell" rating to a "hold" rating in a research note issued on Tuesday, 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 a number of other reports. Imperial Capital decreased their target price on shares of Construction Partners from $20.00 to $16.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 13th. Bank of America cut their price target on shares of Construction Partners from $20.00 to $17.00 and set a "buy" rating for the company in a report on Friday, May 15th. Raymond James downgraded shares of Construction Partners from a "strong-buy" rating to an "outperform" rating and set a $18.00 target price for the company. in a report on Tuesday, May 12th. ValuEngine upgraded shares of Construction Partners from a "sell" rating to a "hold" rating in a report on Monday, March 16th. Finally, TheStreet upgraded shares of Construction Partners from a "c" rating to a "b-" rating in a research note on Wednesday, May 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company's stock. The company presently has an average rating of "Hold" and a consensus target price of $18.17.
Shares of Construction Partners stock opened at $17.68 on Tuesday. The stock's 50-day simple moving average is $17.43 and its 200-day simple moving average is $16.88. Construction Partners has a 52 week low of $11.96 and a 52 week high of $20.92. The company has a market capitalization of $909.26 million, a price-to-earnings ratio of 22.38, a PEG ratio of 4.46 and a beta of 0.97. The company has a quick ratio of 1.79, a current ratio of 2.15 and a debt-to-equity ratio of 0.16.
Construction Partners (NASDAQ:ROAD) last announced its quarterly 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). Construction Partners had a return on equity of 11.90% and a net margin of 5.04%. The company had revenue of $168.68 million for the quarter, compared to analyst estimates of $166.41 million. During the same period in the prior year, the business posted $0.08 earnings per share. Construction Partners's revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities analysts expect that Construction Partners will post 0.66 earnings per share for the current year.
In other news, CFO Royce Alan Palmer sold 6,318 shares of the stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $18.64, for a total value of $117,767.52. Following the completion of the sale, the chief financial officer now owns 95,500 shares of the company's stock, valued at $1,780,120. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Suntx Capital Management Corp. sold 862,500 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $16.00, for a total transaction of $13,800,000.00. The disclosure for this sale can be found here. Insiders sold 6,632,980 shares of company stock worth $106,166,311 in the last ninety days. Insiders own 63.94% of the company's stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Legal & General Group Plc boosted its stake in Construction Partners by 24.7% during the 1st quarter. Legal & General Group Plc now owns 3,905 shares of the company's stock valued at $60,000 after acquiring an additional 773 shares during the last quarter. Citigroup Inc. lifted its position in Construction Partners by 728.4% in the 4th quarter. Citigroup Inc. now owns 3,587 shares of the company's stock valued at $61,000 after purchasing an additional 3,154 shares during the last quarter. Bank of Montreal Can lifted its position in Construction Partners by 32.7% in the 4th quarter. Bank of Montreal Can now owns 4,535 shares of the company's stock valued at $77,000 after purchasing an additional 1,118 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in Construction Partners by 54.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,552 shares of the company's stock valued at $94,000 after purchasing an additional 1,947 shares during the last quarter. Finally, US Bancorp DE increased its stake in Construction Partners by 65.8% during the 1st quarter. US Bancorp DE now owns 5,835 shares of the company's stock valued at $99,000 after buying an additional 2,315 shares during the period. Hedge funds and other institutional investors own 68.67% 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.
See Also: Investing strategies using the yield curve
Get a free copy of the Zacks research report on Construction Partners (ROAD)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
6 Stocks That May Not Survive the Coronavirus
Companies that are in a shaky financial position may sometimes attract investors in a bull market. Traders seeking a short-term profit can often use an oversold condition to capture a quick gain. But in a bear market, these companies frequently are left on the sidelines.
But a declining stock price by itself should not be enough to scare investors off. What investors really need to pay attention to is the company’s ability to finance existing debt or take on additional debt. Companies with low credit ratings face the problem of having too much debt on their books and an inability to finance it at more favorable rates.
That’s one reason we’ve put together this presentation that highlights 6 companies that may not survive the coronavirus. These companies have low stock prices. In fact, many of them are, or will be, in danger of being delisted if they cannot bring their stock above the $1 threshold. And on top of that, these companies each carry credit ratings of CCC+ or lower and are at risk of seeing those ratings even go lower.
Each of the companies presented here are considered to be among the weakest, if not the weakest, in their sector. If you have any of these falling knives in your portfolio now is the time to cut your losses and walk away.
View the "6 Stocks That May Not Survive the Coronavirus".