Construction Partners (NASDAQ:ROAD) Upgraded by B. Riley Financial to “Buy” Rating

B. Riley Financial upgraded shares of Construction Partners (NASDAQ:ROAD) from a neutral rating to a buy rating in a report released on Thursday morning, MarketBeat.com reports. They currently have $135.00 price objective on the stock, up from their prior price objective of $117.00.

Several other equities analysts also recently commented on ROAD. Zacks Research raised shares of Construction Partners from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 29th. DA Davidson raised their target price on shares of Construction Partners from $120.00 to $130.00 and gave the company a “neutral” rating in a research note on Friday, February 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Construction Partners in a report on Monday, December 29th. Finally, Robert W. Baird set a $142.00 price target on shares of Construction Partners in a research note on Friday, February 6th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Construction Partners currently has an average rating of “Buy” and an average target price of $131.40.

Construction Partners Stock Performance

NASDAQ:ROAD opened at $105.89 on Thursday. The company has a current ratio of 1.59, a quick ratio of 1.26 and a debt-to-equity ratio of 1.76. Construction Partners has a 12-month low of $64.79 and a 12-month high of $141.90. The stock has a 50-day moving average price of $121.56 and a 200 day moving average price of $117.10. The stock has a market capitalization of $5.98 billion, a P/E ratio of 48.13, a P/E/G ratio of 1.00 and a beta of 0.92.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings results on Thursday, February 5th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.16. Construction Partners had a return on equity of 15.26% and a net margin of 3.99%.The company had revenue of $809.47 million for the quarter, compared to analysts’ expectations of $740.14 million. During the same period in the previous year, the firm earned $0.25 EPS. The firm’s revenue was up 44.1% compared to the same quarter last year. Equities research analysts forecast that Construction Partners will post 1.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. MAI Capital Management increased its position in Construction Partners by 21.7% in the third quarter. MAI Capital Management now owns 505 shares of the company’s stock worth $64,000 after purchasing an additional 90 shares during the last quarter. GAMMA Investing LLC lifted its position in Construction Partners by 10.7% during the third quarter. GAMMA Investing LLC now owns 1,288 shares of the company’s stock valued at $164,000 after purchasing an additional 124 shares during the last quarter. Byrne Asset Management LLC grew its stake in shares of Construction Partners by 41.7% in the 3rd quarter. Byrne Asset Management LLC now owns 425 shares of the company’s stock worth $54,000 after buying an additional 125 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of Construction Partners by 3.0% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 5,248 shares of the company’s stock worth $666,000 after buying an additional 152 shares in the last quarter. Finally, AlphaQuest LLC increased its holdings in shares of Construction Partners by 292.5% in the 3rd quarter. AlphaQuest LLC now owns 208 shares of the company’s stock worth $26,000 after buying an additional 155 shares during the last quarter. 94.83% of the stock is currently owned by institutional investors.

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.