Construction Partners Inc (NASDAQ:ROAD) Receives Average Recommendation of “Hold” from Analysts

Shares of Construction Partners Inc (NASDAQ:ROAD) have been assigned a consensus recommendation of “Hold” from the nine research firms that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $17.80.

Several research firms recently weighed in on ROAD. Imperial Capital dropped their price target on Construction Partners from $20.00 to $16.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. ValuEngine raised Construction Partners from a “sell” rating to a “hold” rating in a report on Monday, March 16th. BidaskClub cut Construction Partners from a “hold” rating to a “sell” rating in a report on Thursday, June 25th. Raymond James cut Construction Partners from a “strong-buy” rating to an “outperform” rating and set a $18.00 price target for the company. in a report on Tuesday, May 12th. Finally, TheStreet upgraded Construction Partners from a “c” rating to a “b-” rating in a research note on Wednesday, May 20th.

Shares of ROAD traded up $0.04 during mid-day trading on Friday, reaching $17.56. The company’s stock had a trading volume of 176,046 shares, compared to its average volume of 395,759. The stock has a market cap of $918.06 million, a P/E ratio of 22.25, a PEG ratio of 4.51 and a beta of 0.97. The business has a 50-day simple moving average of $17.09 and a two-hundred day simple moving average of $16.87. The company has a current ratio of 2.15, a quick ratio of 1.79 and a debt-to-equity ratio of 0.16. Construction Partners has a 1-year low of $11.96 and a 1-year high of $20.92.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings results on Friday, May 8th. The company reported $0.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.03). The firm had revenue of $168.68 million for the quarter, compared to analyst estimates of $166.41 million. Construction Partners had a return on equity of 11.90% and a net margin of 5.04%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.08 earnings per share. Research analysts anticipate that Construction Partners will post 0.66 EPS for the current year.

In other Construction Partners news, Director Suntx Capital Management Corp. sold 5,750,000 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $16.00, for a total transaction of $92,000,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Royce Alan Palmer sold 6,318 shares of the firm’s stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $18.64, for a total value of $117,767.52. Following the transaction, the chief financial officer now owns 95,500 shares in the company, valued at approximately $1,780,120. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,632,980 shares of company stock worth $106,166,311. Corporate insiders own 63.94% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Legal & General Group Plc increased its stake in shares of Construction Partners by 24.7% in the 1st quarter. Legal & General Group Plc now owns 3,905 shares of the company’s stock valued at $60,000 after purchasing an additional 773 shares during the last quarter. Swiss National Bank increased its stake in shares of Construction Partners by 2.4% in the 4th quarter. Swiss National Bank now owns 34,300 shares of the company’s stock valued at $579,000 after purchasing an additional 800 shares during the last quarter. AQR Capital Management LLC grew its position in Construction Partners by 7.0% during the 1st quarter. AQR Capital Management LLC now owns 16,563 shares of the company’s stock worth $280,000 after acquiring an additional 1,084 shares during the last quarter. Bank of Montreal Can grew its position in Construction Partners by 32.7% during the 4th quarter. Bank of Montreal Can now owns 4,535 shares of the company’s stock worth $77,000 after acquiring an additional 1,118 shares during the last quarter. Finally, Baird Financial Group Inc. grew its position in Construction Partners by 1.0% during the 1st quarter. Baird Financial Group Inc. now owns 149,672 shares of the company’s stock worth $2,528,000 after acquiring an additional 1,421 shares during the last quarter. 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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