Construction Partners (NASDAQ:ROAD) Coverage Initiated at Sidoti

Equities researchers at Sidoti assumed coverage on shares of Construction Partners (NASDAQ:ROADGet Rating) in a report issued on Wednesday, Briefing.com reports. The firm set a “buy” rating on the stock.

A number of other research firms also recently weighed in on ROAD. Zacks Investment Research downgraded shares of Construction Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, April 13th. Raymond James raised shares of Construction Partners from an “outperform” rating to a “strong-buy” rating and decreased their target price for the company from $30.00 to $25.00 in a research report on Wednesday, May 11th. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $33.80.

Shares of ROAD stock traded down $0.10 on Wednesday, reaching $22.89. The company had a trading volume of 3,708 shares, compared to its average volume of 300,903. The stock has a market capitalization of $1.20 billion, a PE ratio of 88.04, a price-to-earnings-growth ratio of 2.14 and a beta of 0.93. The company has a quick ratio of 1.50, a current ratio of 1.93 and a debt-to-equity ratio of 0.76. Construction Partners has a one year low of $19.51 and a one year high of $44.99. The business’s 50-day moving average is $24.87 and its 200 day moving average is $27.69.

Construction Partners (NASDAQ:ROADGet Rating) last issued its quarterly earnings data on Friday, May 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.14). The business had revenue of $243.40 million during the quarter, compared to the consensus estimate of $218.14 million. Construction Partners had a net margin of 1.25% and a return on equity of 3.28%. The firm’s quarterly revenue was up 35.7% compared to the same quarter last year. During the same quarter last year, the business earned ($0.04) EPS. On average, sell-side analysts forecast that Construction Partners will post 0.37 earnings per share for the current fiscal year.

In other news, SVP John L. Harper bought 30,000 shares of the business’s stock in a transaction that occurred on Thursday, May 12th. The shares were bought at an average cost of $20.94 per share, for a total transaction of $628,200.00. Following the acquisition, the senior vice president now directly owns 15,000 shares in the company, valued at $314,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 24.35% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Morgan Stanley lifted its stake in Construction Partners by 338.4% during the 2nd quarter. Morgan Stanley now owns 256,128 shares of the company’s stock valued at $8,042,000 after acquiring an additional 197,707 shares in the last quarter. Advisor Group Holdings Inc. lifted its stake in Construction Partners by 22.1% during the 3rd quarter. Advisor Group Holdings Inc. now owns 10,049 shares of the company’s stock valued at $335,000 after acquiring an additional 1,819 shares in the last quarter. Barclays PLC lifted its stake in Construction Partners by 214.8% during the 3rd quarter. Barclays PLC now owns 11,898 shares of the company’s stock valued at $397,000 after acquiring an additional 8,118 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Construction Partners by 72.7% during the 3rd quarter. Alliancebernstein L.P. now owns 24,000 shares of the company’s stock valued at $801,000 after acquiring an additional 10,100 shares in the last quarter. Finally, Citigroup Inc. lifted its stake in Construction Partners by 115.8% during the 3rd quarter. Citigroup Inc. now owns 20,587 shares of the company’s stock valued at $687,000 after acquiring an additional 11,045 shares in the last quarter. Institutional investors own 69.45% of the company’s stock.

Construction Partners Company Profile (Get Rating)

Construction Partners, Inc, a civil infrastructure company, engages in the construction and maintenance of roadways across Alabama, Florida, Georgia, North Carolina, and South Carolina. The company, through its subsidiaries, provides various products and services to public and private infrastructure projects, with a focus on highways, roads, bridges, airports, and commercial and residential developments.

Featured Articles

Want More Great Investing Ideas?

Receive News & Ratings for Construction Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Construction Partners and related companies with MarketBeat.com's FREE daily email newsletter.