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

Construction Partners, Inc. (NASDAQ:ROAD) shares 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 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 Upgrades and Downgrades

A number of brokerages have commented on ROAD. DA Davidson reaffirmed a “neutral” rating and set a $95.00 target price on shares of Construction Partners in a report on Thursday, January 30th. Robert W. Baird upped their price objective on Construction Partners from $100.00 to $102.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Finally, Raymond James decreased 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. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Construction Partners currently has a consensus rating of “Moderate Buy” and an average price target of $85.40.

Construction Partners Trading Down 5.4 %

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 stock’s 50 day moving average price is $77.53 and its 200-day moving average price is $81.86. The stock has a market capitalization of $4.04 billion, a PE ratio of 67.21, a PEG ratio of 0.99 and a beta of 0.79.

Institutional Investors Weigh In On Construction Partners

A number of institutional investors and hedge funds have recently bought and sold shares of ROAD. USA Financial Formulas bought a new position in shares of Construction Partners in the fourth quarter worth about $31,000. Mather Group LLC. purchased a new position in Construction Partners in the 4th quarter worth approximately $33,000. Byrne Asset Management LLC boosted its stake in Construction Partners by 33.3% in the 4th 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. Nisa Investment Advisors LLC grew its holdings in Construction Partners by 400.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 541 shares of the company’s stock valued at $48,000 after buying an additional 433 shares in the last quarter. Finally, Golden State Wealth Management LLC bought a new stake in shares of Construction Partners during the fourth quarter valued at approximately $50,000. 94.83% of the stock is owned by 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.