Construction Partners (NASDAQ:ROAD) Trading Down 5.8% – Here’s Why

Construction Partners, Inc. (NASDAQ:ROAD) fell 5.8% during mid-day trading on Thursday . The company traded as low as $71.62 and last traded at $71.96. 300,313 shares changed 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.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Robert W. Baird boosted their target price on shares of Construction Partners from $100.00 to $102.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. DA Davidson reiterated a “neutral” rating and issued a $95.00 price objective on shares of Construction Partners in a report on Thursday, January 30th. Finally, Raymond James cut their target price on Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating on the stock in a report on Thursday, January 16th.

Construction Partners Stock Performance

The stock’s 50-day moving average price is $76.77 and its 200 day moving average price is $81.89. The company has a quick ratio of 1.23, a current ratio of 1.54 and a debt-to-equity ratio of 1.46. The company has a market cap of $3.99 billion, a P/E ratio of 66.66, a price-to-earnings-growth ratio of 0.99 and a beta of 0.79.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Byrne Asset Management LLC increased its stake in shares of Construction Partners by 33.3% in the fourth quarter. Byrne Asset Management LLC now owns 533 shares of the company’s stock worth $47,000 after purchasing an additional 133 shares during the period. Allworth Financial LP grew its holdings in Construction Partners by 15.0% in the 4th quarter. Allworth Financial LP now owns 1,228 shares of the company’s stock valued at $114,000 after buying an additional 160 shares during the last quarter. Summit Investment Advisors Inc. increased its position in Construction Partners by 5.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,492 shares of the company’s stock worth $397,000 after buying an additional 213 shares during the period. USA Financial Formulas acquired a new position in shares of Construction Partners during the fourth quarter worth approximately $31,000. Finally, HighTower Advisors LLC lifted its holdings in shares of Construction Partners by 1.2% during the fourth quarter. HighTower Advisors LLC now owns 29,531 shares of the company’s stock worth $2,612,000 after buying an additional 350 shares during the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.

Construction Partners Company Profile

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.