Construction Partners (ROAD) Hits New 1-Year Low at $10.03

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Construction Partners Inc (NASDAQ:ROAD)’s share price hit a new 52-week low during trading on Thursday . The company traded as low as $10.03 and last traded at $10.23, with a volume of 5482 shares trading hands. The stock had previously closed at $11.00.

A number of equities analysts recently commented on ROAD shares. Zacks Investment Research upgraded Construction Partners from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a report on Wednesday, August 1st. ValuEngine downgraded Construction Partners from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Imperial Capital started coverage on Construction Partners in a report on Friday, June 29th. They set an “outperform” rating and a $16.00 target price for the company. One analyst has rated the stock with a sell rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $14.58.

The company has a quick ratio of 1.74, a current ratio of 1.94 and a debt-to-equity ratio of 0.18.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings data on Thursday, August 9th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.06. The firm had revenue of $195.10 million during the quarter, compared to the consensus estimate of $192.54 million. The company’s revenue for the quarter was up 31.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Construction Partners Inc will post 0.85 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Summit Creek Advisors LLC raised its holdings in Construction Partners by 10.1% in the third quarter. Summit Creek Advisors LLC now owns 502,168 shares of the company’s stock worth $6,076,000 after purchasing an additional 46,106 shares in the last quarter. Mesirow Financial Investment Management Inc. raised its holdings in Construction Partners by 20.6% in the third quarter. Mesirow Financial Investment Management Inc. now owns 32,888 shares of the company’s stock worth $398,000 after purchasing an additional 5,623 shares in the last quarter. Northern Trust Corp bought a new position in Construction Partners in the second quarter worth $1,004,000. Bank of New York Mellon Corp bought a new position in Construction Partners in the second quarter worth $8,272,000. Finally, Bank of America Corp DE bought a new position in Construction Partners in the second quarter worth $1,841,000. Institutional investors and hedge funds own 20.68% of the company’s stock.

Construction Partners Company Profile (NASDAQ:ROAD)

Construction Partners, Inc, an infrastructure and road construction company, provides construction products and services to public and private sectors. Its services cover construction of highways, roads, bridges, airports, and commercial and residential sites. The company provides site development, paving, utility and drainage systems, as well as supplies hot mix asphalt.

Read More: Beta

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