Construction Partners, Inc. (NASDAQ:ROAD) Receives $123.50 Consensus Target Price from Analysts

Shares of Construction Partners, Inc. (NASDAQ:ROAD) have been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $123.50.

Several research analysts have recently commented on the company. Baird R W upgraded Construction Partners from a “hold” rating to a “strong-buy” rating in a report on Friday, August 8th. Weiss Ratings restated a “hold (c)” rating on shares of Construction Partners in a research report on Monday, November 24th. Bank of America reduced their target price on shares of Construction Partners from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, November 21st. Robert W. Baird dropped their price target on shares of Construction Partners from $131.00 to $124.00 and set an “outperform” rating for the company in a research note on Friday, November 21st. Finally, DA Davidson restated a “neutral” rating and set a $120.00 price target on shares of Construction Partners in a report on Friday, November 21st.

Institutional Investors Weigh In On Construction Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. TD Waterhouse Canada Inc. acquired a new position in shares of Construction Partners in the 3rd quarter valued at $25,000. AlphaQuest LLC raised its holdings in Construction Partners by 292.5% in the 3rd quarter. AlphaQuest LLC now owns 208 shares of the company’s stock valued at $26,000 after buying an additional 155 shares during the period. Caitong International Asset Management Co. Ltd lifted its position in Construction Partners by 2,750.0% in the second quarter. Caitong International Asset Management Co. Ltd now owns 285 shares of the company’s stock valued at $30,000 after buying an additional 275 shares during the last quarter. Morse Asset Management Inc boosted its stake in Construction Partners by 300.0% during the third quarter. Morse Asset Management Inc now owns 240 shares of the company’s stock worth $30,000 after buying an additional 180 shares during the period. Finally, Danske Bank A S purchased a new position in Construction Partners during the third quarter worth about $38,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Construction Partners Trading Up 0.3%

Shares of Construction Partners stock opened at $108.69 on Thursday. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.61 and a quick ratio of 1.20. The stock’s 50 day simple moving average is $116.62 and its 200-day simple moving average is $111.84. The stock has a market cap of $6.10 billion, a P/E ratio of 59.39, a P/E/G ratio of 1.04 and a beta of 1.02. Construction Partners has a 1-year low of $64.79 and a 1-year high of $138.90.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings data on Thursday, November 20th. The company reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.04). The company had revenue of $899.85 million for the quarter, compared to analysts’ expectations of $896.17 million. Construction Partners had a return on equity of 14.42% and a net margin of 3.62%.The business’s quarterly revenue was up 67.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.56 EPS. Analysts predict that Construction Partners will post 1.96 EPS for the current fiscal year.

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.