Construction Partners (NASDAQ:ROAD) Trading Up 6.9% Following Better-Than-Expected Earnings

Construction Partners, Inc. (NASDAQ:ROAD) shares rose 6.9% on Thursday following a stronger than expected earnings report. The company traded as high as $123.65 and last traded at $122.6350. Approximately 552,061 shares were traded during mid-day trading, an increase of 22% from the average daily volume of 452,357 shares. The stock had previously closed at $114.77.

The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.16. Construction Partners had a return on equity of 14.42% and a net margin of 3.62%.The firm’s quarterly revenue was up 44.1% on a year-over-year basis. During the same period last year, the company posted $0.25 EPS.

Analyst Ratings Changes

ROAD has been the subject of a number of recent research reports. Robert W. Baird lowered their target price on Construction Partners from $131.00 to $124.00 and set an “outperform” rating for the company in a research note on Friday, November 21st. Weiss Ratings reissued a “hold (c+)” rating on shares of Construction Partners in a research report on Monday, December 29th. DA Davidson reissued a “neutral” rating and set a $120.00 price target on shares of Construction Partners in a research report on Friday, November 21st. B. Riley started coverage on shares of Construction Partners in a research note on Thursday, January 15th. They set a “neutral” rating and a $117.00 price objective on the stock. Finally, Bank of America cut their target price on shares of Construction Partners from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, November 21st. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Construction Partners currently has a consensus rating of “Moderate Buy” and an average price target of $122.20.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ROAD. AQR Capital Management LLC increased its stake in shares of Construction Partners by 14.4% in the first quarter. AQR Capital Management LLC now owns 10,333 shares of the company’s stock valued at $743,000 after purchasing an additional 1,302 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Construction Partners by 11.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 96,191 shares of the company’s stock valued at $6,913,000 after acquiring an additional 9,656 shares in the last quarter. Intech Investment Management LLC boosted its position in Construction Partners by 11.4% during the 1st quarter. Intech Investment Management LLC now owns 24,292 shares of the company’s stock worth $1,746,000 after acquiring an additional 2,482 shares during the period. Strs Ohio bought a new position in shares of Construction Partners in the first quarter worth $165,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Construction Partners in the second quarter worth $344,000. 94.83% of the stock is owned by institutional investors and hedge funds.

Construction Partners Price Performance

The business has a fifty day moving average price of $110.93 and a 200 day moving average price of $113.93. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.61 and a quick ratio of 1.34. The company has a market capitalization of $6.94 billion, a price-to-earnings ratio of 67.06, a price-to-earnings-growth ratio of 1.11 and a beta of 0.87.

Construction Partners Company Profile

Construction Partners, Inc (NASDAQ: ROAD) is a specialty contractor and infrastructure solutions provider focused on road building, paving, site development and aggregate production. The company delivers a comprehensive suite of civil construction services, including roadway paving and milling, site grading and preparation, stormwater and utility installation, and full-scale asphalt plant operations. By integrating materials production with contracting capabilities, the firm aims to streamline project delivery and maintain quality control across its contracting and materials businesses.

At the heart of Construction Partners’ operations are its network of asphalt plants, quarries and aggregate production facilities.