Construction Partners (NASDAQ:ROAD) Shares Down 5.3% – What’s Next?

Construction Partners, Inc. (NASDAQ:ROAD) was down 5.3% on Tuesday . The company traded as low as $101.70 and last traded at $100.5420. Approximately 143,988 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 681,539 shares. The stock had previously closed at $106.20.

Analyst Ratings Changes

A number of research firms have weighed in on ROAD. Raymond James Financial decreased their price objective on shares of Construction Partners from $161.00 to $150.00 and set a “strong-buy” rating for the company in a research report on Wednesday, July 15th. Truist Financial initiated coverage on Construction Partners in a research note on Wednesday, June 3rd. They set a “hold” rating and a $130.00 price objective for the company. Zacks Research lowered Construction Partners from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 16th. Robert W. Baird decreased their price target 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 upgraded shares of Construction Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $133.50.

Construction Partners Stock Performance

The company has a quick ratio of 1.26, a current ratio of 1.57 and a debt-to-equity ratio of 1.68. The stock has a 50 day simple moving average of $108.74 and a 200 day simple moving average of $115.92. The company has a market capitalization of $5.74 billion, a price-to-earnings ratio of 39.66, a P/E/G ratio of 0.94 and a beta of 0.90.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings data on Friday, August 7th. The company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.07. The firm had revenue of $999.42 million during the quarter, compared to the consensus estimate of $948.77 million. Construction Partners had a return on equity of 16.06% and a net margin of 4.10%.The firm’s revenue was up 28.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.81 EPS. As a group, analysts anticipate that Construction Partners, Inc. will post 3.02 earnings per share for the current fiscal year.

Institutional Trading of Construction Partners

Several large investors have recently added to or reduced their stakes in ROAD. California State Teachers Retirement System increased its holdings in shares of Construction Partners by 11,651.6% during the second quarter. California State Teachers Retirement System now owns 6,577,601 shares of the company’s stock valued at $781,222,000 after purchasing an additional 6,521,629 shares during the period. Bank of New York Mellon Corp bought a new stake in Construction Partners during the second quarter worth approximately $78,248,000. Capital World Investors lifted its position in Construction Partners by 97.5% in the fourth quarter. Capital World Investors now owns 856,696 shares of the company’s stock worth $92,994,000 after purchasing an additional 423,033 shares during the period. Invesco Ltd. increased its position in shares of Construction Partners by 23.7% during the 4th quarter. Invesco Ltd. now owns 1,481,914 shares of the company’s stock valued at $160,862,000 after purchasing an additional 284,082 shares during the period. Finally, Fifth Third Bancorp raised its stake in shares of Construction Partners by 30,525.8% in the 1st quarter. Fifth Third Bancorp now owns 239,800 shares of the company’s stock worth $26,647,000 after buying an additional 239,017 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors and hedge funds.

About Construction Partners

Construction Partners, Inc (NASDAQ: ROAD) is a specialty contractor and infrastructure solutions provider focused on road building, paving, site development and aggregate production. The company delivers a comprehensive suite of civil construction services, including roadway paving and milling, site grading and preparation, stormwater and utility installation, and full-scale asphalt plant operations. By integrating materials production with contracting capabilities, the firm aims to streamline project delivery and maintain quality control across its contracting and materials businesses.

At the heart of Construction Partners’ operations are its network of asphalt plants, quarries and aggregate production facilities.