Zacks Investment Research Lowers Construction Partners (NASDAQ:ROAD) to Sell

Zacks Investment Research lowered shares of Construction Partners (NASDAQ:ROAD) from a hold rating to a sell rating in a report issued on Tuesday morning, Zacks.com reports.

According to Zacks, “Construction Partners Inc. is an infrastructure and road construction company. It provides construction products and services to public and private sectors. The company’s services include construction of highways, roads, bridges, airports and commercial and residential sites. Construction Partners Inc. is based in Alabama, United States. “

Other equities research analysts have also issued research reports about the stock. Raymond James lowered shares of Construction Partners from a strong-buy rating to an outperform rating and set a $18.00 price objective for the company. in a research report on Tuesday, May 12th. TheStreet upgraded shares of Construction Partners from a c rating to a b- rating in a research report on Wednesday, May 20th. ValuEngine raised shares of Construction Partners from a sell rating to a hold rating in a research note on Monday, March 16th. Imperial Capital lowered their price objective on shares of Construction Partners from $20.00 to $16.00 and set an outperform rating on the stock in a research note on Wednesday, May 13th. Finally, Bank of America lowered their price objective on shares of Construction Partners from $20.00 to $17.00 and set a buy rating on the stock in a research note on Friday, May 15th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $18.17.

Shares of ROAD opened at $17.56 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.79 and a current ratio of 2.15. The company has a market capitalization of $907.20 million, a price-to-earnings ratio of 22.23, a PEG ratio of 4.45 and a beta of 0.97. The company’s 50 day simple moving average is $17.16 and its 200 day simple moving average is $16.88. Construction Partners has a 1 year low of $11.96 and a 1 year high of $20.92.

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

In other news, Director Suntx Capital Management Corp. sold 862,500 shares of Construction Partners stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $16.00, for a total value of $13,800,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Royce Alan Palmer sold 6,318 shares of the firm’s stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $18.64, for a total transaction of $117,767.52. Following the sale, the chief financial officer now owns 95,500 shares of the company’s stock, valued at $1,780,120. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,632,980 shares of company stock worth $106,166,311. 63.94% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of ROAD. Legal & General Group Plc lifted its stake in Construction Partners by 24.7% in the first quarter. Legal & General Group Plc now owns 3,905 shares of the company’s stock valued at $60,000 after acquiring an additional 773 shares during the last quarter. Swiss National Bank lifted its stake in Construction Partners by 2.4% in the fourth quarter. Swiss National Bank now owns 34,300 shares of the company’s stock valued at $579,000 after acquiring an additional 800 shares during the last quarter. AQR Capital Management LLC lifted its stake in Construction Partners by 7.0% in the first quarter. AQR Capital Management LLC now owns 16,563 shares of the company’s stock valued at $280,000 after acquiring an additional 1,084 shares during the last quarter. Bank of Montreal Can lifted its stake in Construction Partners by 32.7% in the fourth quarter. Bank of Montreal Can now owns 4,535 shares of the company’s stock valued at $77,000 after acquiring an additional 1,118 shares during the last quarter. Finally, Baird Financial Group Inc. lifted its stake in Construction Partners by 1.0% in the first quarter. Baird Financial Group Inc. now owns 149,672 shares of the company’s stock valued at $2,528,000 after acquiring an additional 1,421 shares during the last quarter. Institutional investors and hedge funds own 68.67% of the company’s stock.

About Construction Partners

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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