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

Construction Partners (NASDAQ:ROADGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday, 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. “

A number of other equities research analysts also recently issued reports on ROAD. Raymond James lowered their price objective on Construction Partners from $35.00 to $30.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 18th. TheStreet cut Construction Partners from a “b-” rating to a “c+” rating in a research note on Wednesday, January 19th. Robert W. Baird reduced their target price on Construction Partners from $38.00 to $31.00 in a research note on Tuesday, January 25th. Finally, Bank of America raised Construction Partners from a “neutral” rating to a “buy” rating and reduced their target price for the company from $40.00 to $34.00 in a research note on Friday, January 7th. One equities research analyst has rated the stock with a sell rating and three have given a buy rating to the stock. According to data from MarketBeat, Construction Partners presently has a consensus rating of “Buy” and a consensus price target of $34.80.

NASDAQ:ROAD opened at $27.84 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.09 and a quick ratio of 1.69. Construction Partners has a 1 year low of $22.31 and a 1 year high of $44.99. The company has a market cap of $1.46 billion, a P/E ratio of 81.88 and a beta of 0.98. The stock’s fifty day moving average price is $26.40 and its two-hundred day moving average price is $30.45.

Construction Partners (NASDAQ:ROADGet Rating) last issued its quarterly earnings data on Friday, February 4th. The company reported $0.11 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.11. Construction Partners had a return on equity of 5.16% and a net margin of 1.77%. The company had revenue of $285.00 million for the quarter, compared to the consensus estimate of $238.23 million. During the same quarter last year, the business posted $0.15 earnings per share. The firm’s revenue was up 49.3% compared to the same quarter last year. On average, analysts expect that Construction Partners will post 0.73 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in ROAD. Morgan Stanley grew its stake in shares of Construction Partners by 338.4% during the second quarter. Morgan Stanley now owns 256,128 shares of the company’s stock valued at $8,042,000 after buying an additional 197,707 shares during the last quarter. Kestra Advisory Services LLC bought a new position in shares of Construction Partners during the third quarter valued at about $377,000. DekaBank Deutsche Girozentrale bought a new position in shares of Construction Partners during the third quarter valued at about $553,000. Landsberg Bennett & Dubbaneh LLC grew its stake in shares of Construction Partners by 121.6% during the third quarter. Landsberg Bennett & Dubbaneh LLC now owns 131,622 shares of the company’s stock valued at $4,405,000 after buying an additional 72,228 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Construction Partners by 44.7% during the third quarter. SG Americas Securities LLC now owns 33,084 shares of the company’s stock valued at $1,104,000 after buying an additional 10,221 shares during the last quarter. 71.32% of the stock is currently owned by hedge funds and other institutional investors.

Construction Partners Company Profile (Get Rating)

Construction Partners, Inc, a civil infrastructure company, engages in the construction and maintenance of roadways across Alabama, Florida, Georgia, North Carolina, and South Carolina. The company, through its subsidiaries, provides various products and services to public and private infrastructure projects, with a focus on highways, roads, bridges, airports, and commercial and residential developments.

Further Reading

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