Construction Partners (NASDAQ:ROAD) Hits New 1-Year Low – Here’s Why

Construction Partners, Inc. (NASDAQ:ROAD) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $92.19 and last traded at $93.57, with a volume of 32088 shares. The stock had previously closed at $96.71.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ROAD shares. Zacks Research lowered Construction Partners from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 16th. Truist Financial began coverage on Construction Partners in a research note on Wednesday, June 3rd. They set a “hold” rating and a $130.00 target price for the company. Weiss Ratings cut Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, September 17th. Robert W. Baird decreased their price target on Construction Partners from $145.00 to $141.00 and set an “outperform” rating on the stock in a research note on Monday, August 10th. Finally, Raymond James Financial dropped their price objective on Construction Partners from $161.00 to $150.00 and set a “strong-buy” rating on the stock in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Construction Partners presently has a consensus rating of “Moderate Buy” and an average 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 company has a market capitalization of $5.28 billion, a PE ratio of 36.29, a PEG ratio of 0.87 and a beta of 0.90. The stock’s fifty day simple moving average is $106.12 and its 200-day simple moving average is $112.36.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings results on Friday, August 7th. The company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.07. The company had revenue of $999.42 million during the quarter, compared to the consensus estimate of $948.77 million. Construction Partners had a net margin of 4.10% and a return on equity of 16.06%. The company’s revenue for the quarter was up 28.2% on a year-over-year basis. During the same period last year, the firm earned $0.81 EPS. On average, research analysts predict that Construction Partners, Inc. will post 3.04 earnings per share for the current fiscal year.

Institutional Trading of Construction Partners

A number of institutional investors have recently bought and sold shares of ROAD. Geode Capital Management LLC boosted its position in shares of Construction Partners by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 1,163,923 shares of the company’s stock worth $126,364,000 after buying an additional 4,118 shares in the last quarter. Wasatch Advisors LP raised its position in Construction Partners by 20.6% during the second quarter. Wasatch Advisors LP now owns 1,008,474 shares of the company’s stock worth $119,776,000 after acquiring an additional 172,034 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Construction Partners by 29.6% in the first quarter. First Trust Advisors LP now owns 1,030,378 shares of the company’s stock valued at $114,496,000 after purchasing an additional 235,616 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Construction Partners by 19.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 967,350 shares of the company’s stock valued at $109,214,000 after purchasing an additional 156,469 shares in the last quarter. Finally, Capital World Investors grew its position in shares of Construction Partners by 97.5% in the fourth quarter. Capital World Investors now owns 856,696 shares of the company’s stock valued at $92,994,000 after purchasing an additional 423,033 shares during the last quarter. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

About Construction Partners

Construction Partners, Inc is an infrastructure-services company that specializes in the construction and maintenance of roads and other transportation-related projects. Operating primarily in the southeastern United States, the company serves public-sector customers, commercial developers and private entities.

The company’s activities include asphalt production and paving, road construction, highway and bridge work, site development, grading, milling and related infrastructure services.