Construction Partners (NASDAQ:ROAD) Stock Gets Price Target Cut from B. Riley Financial

Construction Partners (NASDAQ:ROAD) had its price target reduced by B. Riley Financial from $135.00 to $100.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also commented on ROAD. Zacks Research lowered shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 16th. Truist Financial cut their target price on Construction Partners from $130.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, November 6th. Raymond James Financial reiterated a “strong-buy” rating and issued a $125.00 price objective on shares of Construction Partners in a research report on Friday, November 6th. Robert W. Baird dropped their target price on shares of Construction Partners from $145.00 to $141.00 and set an “outperform” rating for the company in a research report on Monday, August 10th. Finally, Weiss Ratings cut Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, September 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Construction Partners has a consensus rating of “Moderate Buy” and a consensus target price of $116.83.

Construction Partners Stock Up 2.9%

Construction Partners stock opened at $84.03 on Monday. Construction Partners has a fifty-two week low of $74.51 and a fifty-two week high of $151.00. The firm’s 50-day simple moving average is $90.43 and its 200 day simple moving average is $109.91. The stock has a market cap of $4.77 billion, a PE ratio of 32.95, a price-to-earnings-growth ratio of 0.68 and a beta of 0.94. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.26 and a current ratio of 1.57.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Hollencrest Capital Management purchased a new stake in Construction Partners in the first quarter worth $39,000. USA Financial Formulas purchased a new position in Construction Partners during the 3rd quarter valued at $40,000. Salomon & Ludwin LLC bought a new position in Construction Partners in the 3rd quarter worth $42,000. Signaturefd LLC raised its holdings in Construction Partners by 78.0% in the 3rd quarter. Signaturefd LLC now owns 470 shares of the company’s stock worth $42,000 after purchasing an additional 206 shares in the last quarter. Finally, Jones Financial Companies Lllp bought a new position in Construction Partners in the 2nd quarter worth $63,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Construction Partners Company Profile

Construction Partners, Inc. is a civil infrastructure company that builds and maintains roads, highways, and other transportation-related projects. Its services include roadway paving, site development, milling and resurfacing, and related construction work for public and private customers. The company also produces and supplies materials used in its projects, including hot-mix asphalt and aggregates. Its vertically integrated operations combine construction services with materials production and distribution.