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

Zacks Investment Research upgraded shares of Construction Partners (NASDAQ:ROAD) from a sell rating to a hold rating in a report 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 subject of a number of other research reports. ValuEngine upgraded Construction Partners from a sell rating to a hold rating in a research note on Monday, March 16th. Raymond James lowered Construction Partners from a strong-buy rating to an outperform rating and set a $18.00 target price for the company. in a research note on Tuesday, May 12th. Bank of America lowered their target price on Construction Partners from $20.00 to $17.00 and set a buy rating for the company in a research note on Friday, May 15th. TheStreet upgraded Construction Partners from a c rating to a b- rating in a research note on Wednesday, May 20th. Finally, BidaskClub lowered Construction Partners from a hold rating to a sell rating in a research note on Thursday, June 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $18.17.

Shares of NASDAQ:ROAD opened at $16.03 on Tuesday. The firm has a market capitalization of $826.93 million, a PE ratio of 20.29, a P/E/G ratio of 4.16 and a beta of 0.97. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.15 and a quick ratio of 1.79. The business has a 50-day moving average of $17.52 and a two-hundred day moving average of $16.86. Construction Partners has a 12 month low of $11.96 and a 12 month high of $20.92.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings results on Friday, May 8th. The company reported $0.03 EPS for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $168.68 million for the quarter, compared to analyst estimates of $166.41 million. During the same quarter in the prior year, the company earned $0.08 earnings per share. The business’s revenue was up 2.7% compared to the same quarter last year. As a group, research analysts anticipate that Construction Partners will post 0.66 earnings per share for the current year.

In related news, CFO Royce Alan Palmer sold 14,162 shares of the firm’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $17.55, for a total transaction of $248,543.10. Following the transaction, the chief financial officer now directly owns 95,500 shares in the company, valued at $1,676,025. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Suntx Capital Management Corp. sold 862,500 shares of Construction Partners 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 valued at $106,166,311 in the last three months. 63.94% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in ROAD. SunTx Capital Management Corp. bought a new stake in Construction Partners during the fourth quarter valued at $227,323,000. Conestoga Capital Advisors LLC increased its stake in Construction Partners by 69.5% during the first quarter. Conestoga Capital Advisors LLC now owns 3,627,622 shares of the company’s stock valued at $61,271,000 after purchasing an additional 1,487,219 shares during the last quarter. Janus Henderson Group PLC bought a new stake in Construction Partners during the fourth quarter valued at $15,491,000. Wasatch Advisors Inc. increased its stake in Construction Partners by 30.6% during the first quarter. Wasatch Advisors Inc. now owns 1,411,503 shares of the company’s stock valued at $23,840,000 after purchasing an additional 330,759 shares during the last quarter. Finally, Advantage Alpha Capital Partners LP increased its stake in Construction Partners by 164.0% during the first quarter. Advantage Alpha Capital Partners LP now owns 267,953 shares of the company’s stock valued at $4,526,000 after purchasing an additional 166,437 shares during the last quarter. Hedge funds and other institutional investors own 68.67% of the company’s stock.

Construction Partners Company Profile

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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