Sidoti Lowers Construction Partners (NASDAQ:ROAD) to Neutral

Construction Partners (NASDAQ:ROAD) was downgraded by analysts at Sidoti from a “buy” rating to a “neutral” rating in a research note issued to investors on Thursday, Briefing.com reports. They presently have a $59.00 price objective on the stock. Sidoti’s price objective would indicate a potential upside of 2.79% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Stifel Nicolaus boosted their target price on Construction Partners from $51.00 to $57.00 and gave the company a “buy” rating in a research report on Monday, February 12th. Raymond James upped their price objective on Construction Partners from $45.00 to $49.00 and gave the company a “strong-buy” rating in a research report on Friday, December 1st. Finally, Robert W. Baird downgraded Construction Partners from an “outperform” rating to a “neutral” rating and upped their price objective for the company from $46.00 to $50.00 in a research report on Monday, February 12th. Two investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $52.00.

Construction Partners Stock Up 2.7 %

Shares of ROAD opened at $57.40 on Thursday. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of 53.15, a price-to-earnings-growth ratio of 1.44 and a beta of 0.64. Construction Partners has a 1 year low of $24.12 and a 1 year high of $57.50. The business’s 50 day simple moving average is $48.41 and its 200-day simple moving average is $43.13. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.75 and a quick ratio of 1.39.

Construction Partners (NASDAQ:ROAD) last released its earnings results on Friday, February 9th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.06. The firm had revenue of $396.51 million for the quarter, compared to the consensus estimate of $393.62 million. Construction Partners had a return on equity of 11.56% and a net margin of 3.52%. The company’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.04 EPS. As a group, equities analysts expect that Construction Partners will post 1.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Construction Partners

Hedge funds have recently made changes to their positions in the stock. R.P. Boggs & Co. raised its stake in Construction Partners by 2.6% in the third quarter. R.P. Boggs & Co. now owns 433,044 shares of the company’s stock valued at $15,832,000 after buying an additional 11,142 shares during the last quarter. New York State Common Retirement Fund raised its stake in Construction Partners by 1,050.7% in the third quarter. New York State Common Retirement Fund now owns 190,160 shares of the company’s stock valued at $6,952,000 after buying an additional 173,635 shares during the last quarter. Dark Forest Capital Management LP purchased a new stake in Construction Partners in the third quarter valued at about $648,000. Lisanti Capital Growth LLC raised its stake in Construction Partners by 31.1% in the third quarter. Lisanti Capital Growth LLC now owns 99,535 shares of the company’s stock valued at $3,639,000 after buying an additional 23,640 shares during the last quarter. Finally, Comerica Bank raised its stake in Construction Partners by 2,716.6% in the third quarter. Comerica Bank now owns 344,814 shares of the company’s stock valued at $12,606,000 after buying an additional 332,572 shares during the last quarter. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

About Construction Partners

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.