Construction Partners (ROAD) shares fell more than 9% in recent Thursday trading following a report by Spruce Point Capital Management.
Spruce Point Capital said it believes that the company's enterprise value is miscalculated by the market and its "valuation reflects a misunderstanding of its business and financial prospects."
"We believe that ROAD's business is under greater pressure than is widely understood, which is masked by poor transparency and aggressive financial presentation methods," Spruce Point Capital said.
The company didn't immediately respond to a request for comment from MT Newswires.
Price: 83.70, Change: -9.08, Percent Change: -9.79
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