Construction Partners (NASDAQ:ROAD) Trading Down 5.8% – Should You Sell?

Construction Partners, Inc. (NASDAQ:ROAD)’s stock price fell 5.8% during mid-day trading on Thursday . The stock traded as low as $71.62 and last traded at $71.96. 300,313 shares traded hands during mid-day trading, a decline of 28% from the average session volume of 419,905 shares. The stock had previously closed at $76.39.

Analyst Ratings Changes

A number of research firms have weighed in on ROAD. Robert W. Baird lifted their price objective on Construction Partners from $100.00 to $102.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Raymond James decreased their price target on Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating on the stock in a research note on Thursday, January 16th. Finally, DA Davidson reiterated a “neutral” rating and set a $95.00 price objective on shares of Construction Partners in a research note on Thursday, January 30th.

Construction Partners Price Performance

The stock has a fifty day moving average of $76.77 and a two-hundred day moving average of $81.89. The company has a current ratio of 1.54, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of 66.66, a PEG ratio of 0.99 and a beta of 0.79.

Institutional Trading of Construction Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in ROAD. Total Wealth Planning & Management Inc. bought a new stake in Construction Partners during the 4th quarter worth about $663,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Construction Partners during the fourth quarter valued at approximately $5,352,000. Polar Asset Management Partners Inc. acquired a new stake in shares of Construction Partners in the fourth quarter valued at approximately $2,105,000. Mackenzie Financial Corp raised its position in Construction Partners by 175.1% in the 4th quarter. Mackenzie Financial Corp now owns 11,303 shares of the company’s stock worth $1,000,000 after purchasing an additional 7,195 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Construction Partners by 28.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 86,535 shares of the company’s stock worth $7,655,000 after buying an additional 19,008 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors and hedge funds.

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.