Construction Partners (NASDAQ:ROAD) Rating Lowered to Neutral at Robert W. Baird

Construction Partners (NASDAQ:ROADGet Free Report) was downgraded by Robert W. Baird from an “outperform” rating to a “neutral” rating in a report released on Monday, Marketbeat reports. They presently have a $50.00 target price on the stock, up from their prior target price of $46.00. Robert W. Baird’s price target would indicate a potential upside of 6.81% from the stock’s previous close.

Several other analysts have also commented on the stock. Raymond James lifted their price target on shares of Construction Partners from $45.00 to $49.00 and gave the company a “strong-buy” rating in a research report on Friday, December 1st. Stifel Nicolaus upped their price target on Construction Partners from $45.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, December 19th. Two research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $48.75.

Check Out Our Latest Research Report on Construction Partners

Construction Partners Price Performance

NASDAQ:ROAD opened at $46.81 on Monday. The stock has a 50 day moving average price of $43.56 and a 200 day moving average price of $39.39. The stock has a market cap of $2.47 billion, a PE ratio of 43.34 and a beta of 0.64. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.39 and a current ratio of 1.70. Construction Partners has a one year low of $24.12 and a one year high of $50.70.

Construction Partners (NASDAQ:ROADGet Free Report) last posted its quarterly earnings results on Friday, February 9th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.13 by $0.06. Construction Partners had a return on equity of 11.78% and a net margin of 3.52%. The business had revenue of $396.51 million for the quarter, compared to analyst estimates of $393.62 million. During the same quarter in the previous year, the firm earned $0.04 EPS. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. Equities research analysts expect that Construction Partners will post 1.27 EPS for the current fiscal year.

Insider Buying and Selling at Construction Partners

In other news, Director Suntx Capital Ii Management Co sold 50,000 shares of the stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $44.21, for a total transaction of $2,210,500.00. Following the sale, the director now owns 128,134 shares of the company’s stock, valued at $5,664,804.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 18.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in Construction Partners by 4.8% in the second quarter. BlackRock Inc. now owns 3,075,247 shares of the company’s stock valued at $96,532,000 after buying an additional 140,572 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Construction Partners by 8.6% during the 3rd quarter. Vanguard Group Inc. now owns 2,290,486 shares of the company’s stock worth $83,740,000 after acquiring an additional 181,017 shares in the last quarter. Invesco Ltd. boosted its holdings in Construction Partners by 2.6% in the third quarter. Invesco Ltd. now owns 2,225,619 shares of the company’s stock valued at $81,369,000 after purchasing an additional 56,595 shares in the last quarter. American Century Companies Inc. boosted its holdings in Construction Partners by 15.0% in the third quarter. American Century Companies Inc. now owns 1,316,081 shares of the company’s stock valued at $48,116,000 after purchasing an additional 172,109 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Construction Partners by 13.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 893,748 shares of the company’s stock valued at $38,897,000 after purchasing an additional 105,346 shares during the last quarter. 77.19% of the stock is currently owned by hedge funds and other institutional investors.

About Construction Partners

(Get Free Report)

Construction Partners, Inc, a civil infrastructure company, constructs and maintains roadways in Alabama, Florida, Georgia, North Carolina, South Carolina, and Tennessee. The company provides various products and services to public and private infrastructure projects, such as highways, roads, bridges, airports, and commercial and residential developments.

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