Construction Partners Inc (NASDAQ:ROAD) Receives Consensus Recommendation of “Hold” from Analysts
Construction Partners Inc (NASDAQ:ROAD) has been assigned a consensus recommendation of “Hold” from the nine ratings firms that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $17.80.
Several research firms have commented on ROAD. Raymond James cut Construction Partners from a “strong-buy” rating to an “outperform” rating and set a $18.00 price target for the company. in a report on Tuesday, May 12th. Bank of America lowered their price target on Construction Partners from $20.00 to $17.00 and set a “buy” rating for the company in a report on Friday, May 15th. DA Davidson cut Construction Partners from a “buy” rating to a “neutral” rating and lowered their price target for the company from $20.00 to $18.00 in a report on Thursday, April 9th. Imperial Capital lowered their price target on Construction Partners from $20.00 to $16.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Finally, TheStreet upgraded Construction Partners from a “c” rating to a “b-” rating in a report on Wednesday, May 20th.
ROAD stock traded up $0.04 during trading on Friday, hitting $17.56. The stock had a trading volume of 177,100 shares, compared to its average volume of 396,895. The company’s 50 day moving average price is $17.31 and its two-hundred day moving average price is $16.88. Construction Partners has a 1-year low of $11.96 and a 1-year high of $20.92. The stock has a market cap of $909.27 million, a price-to-earnings ratio of 22.23, a price-to-earnings-growth ratio of 4.46 and a beta of 0.97. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.79 and a current ratio of 2.15.
In other Construction Partners news, CFO Royce Alan Palmer sold 6,318 shares of the company’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 value of $117,767.52. Following the completion of the transaction, the chief financial officer now owns 95,500 shares in the company, valued at approximately $1,780,120. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Suntx Capital Management Corp. sold 862,500 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $16.00, for a total value of $13,800,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,632,980 shares of company stock valued at $106,166,311. 63.94% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. SunTx Capital Management Corp. purchased a new stake in shares of Construction Partners during the 4th quarter worth about $227,323,000. Conestoga Capital Advisors LLC grew its holdings in Construction Partners by 69.5% in the 1st quarter. Conestoga Capital Advisors LLC now owns 3,627,622 shares of the company’s stock valued at $61,271,000 after buying an additional 1,487,219 shares during the last quarter. BlackRock Inc. grew its holdings in Construction Partners by 5.0% in the 1st quarter. BlackRock Inc. now owns 1,566,228 shares of the company’s stock valued at $26,454,000 after buying an additional 74,224 shares during the last quarter. Wasatch Advisors Inc. lifted its position in shares of Construction Partners by 30.6% in the 1st quarter. Wasatch Advisors Inc. now owns 1,411,503 shares of the company’s stock worth $23,840,000 after acquiring an additional 330,759 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Construction Partners by 1.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,332,271 shares of the company’s stock worth $22,502,000 after buying an additional 15,592 shares during the period. 68.67% of the stock is currently owned by institutional investors.
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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