Construction Partners (NASDAQ:ROAD) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, ValuEngine reports.

Several other equities research analysts have also recently issued reports on ROAD. Imperial Capital reissued an “outperform” rating and set a $17.25 target price (up previously from $15.50) on shares of Construction Partners in a research note on Thursday, August 15th. Raymond James lifted their target price on Construction Partners from $15.00 to $16.50 and gave the company a “strong-buy” rating in a research report on Monday, August 12th. Finally, Zacks Investment Research lowered Construction Partners from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 5th.

ROAD traded down $0.38 during trading hours on Tuesday, reaching $19.12. The company’s stock had a trading volume of 232,711 shares, compared to its average volume of 152,295. Construction Partners has a fifty-two week low of $7.70 and a fifty-two week high of $20.25. The stock has a market cap of $984.86 million, a PE ratio of 22.23 and a beta of 1.95. The business’s 50-day moving average is $17.92 and its 200-day moving average is $15.47. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.97 and a quick ratio of 1.69.

In related news, Director Cpi Expansion Fund Gp L. Suntx sold 750,000 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $17.24, for a total transaction of $12,930,000.00. Also, Director Cpi Expansion Fund Gp L. Suntx sold 5,000,000 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $13.47, for a total transaction of $67,350,000.00. Corporate insiders own 74.79% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in ROAD. Squarepoint Ops LLC grew its stake in shares of Construction Partners by 19.1% in the third quarter. Squarepoint Ops LLC now owns 14,634 shares of the company’s stock valued at $228,000 after buying an additional 2,348 shares in the last quarter. California State Teachers Retirement System boosted its holdings in Construction Partners by 5.7% during the 3rd quarter. California State Teachers Retirement System now owns 19,562 shares of the company’s stock valued at $305,000 after acquiring an additional 1,060 shares during the period. State Street Corp boosted its holdings in Construction Partners by 70.3% during the 3rd quarter. State Street Corp now owns 224,748 shares of the company’s stock valued at $3,502,000 after acquiring an additional 92,769 shares during the period. Massachusetts Financial Services Co. MA grew its position in Construction Partners by 1.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,310,147 shares of the company’s stock valued at $20,412,000 after acquiring an additional 14,553 shares in the last quarter. Finally, First Trust Advisors LP acquired a new position in Construction Partners in the 3rd quarter valued at about $1,151,000. Institutional investors own 35.22% of the company’s stock.

Construction Partners Company Profile

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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