Construction Partners, Inc. (NASDAQ:ROAD) Given Average Rating of “Moderate Buy” by Analysts

Construction Partners, Inc. (NASDAQ:ROAD) has received an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $132.50.

A number of research firms have recently weighed in on ROAD. B. Riley Financial upgraded shares of Construction Partners from a “neutral” rating to a “buy” rating and raised their price target for the company from $117.00 to $135.00 in a report on Thursday, April 2nd. Weiss Ratings cut shares of Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Truist Financial started coverage on shares of Construction Partners in a research report on Wednesday, June 3rd. They set a “hold” rating and a $130.00 target price on the stock. Robert W. Baird cut their target price on Construction Partners from $169.00 to $145.00 and set an “outperform” rating on the stock in a report on Wednesday, July 1st. Finally, Zacks Research raised Construction Partners from a “hold” rating to a “strong-buy” rating in a research report on Tuesday.

Construction Partners Stock Performance

Shares of Construction Partners stock opened at $95.50 on Friday. Construction Partners has a 12 month low of $93.22 and a 12 month high of $151.00. The company has a quick ratio of 1.21, a current ratio of 1.53 and a debt-to-equity ratio of 1.75. The stock has a market cap of $5.40 billion, a PE ratio of 41.89, a price-to-earnings-growth ratio of 0.85 and a beta of 0.88. The business has a fifty day simple moving average of $117.14 and a 200-day simple moving average of $117.89.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings results on Friday, May 8th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.23. Construction Partners had a net margin of 3.90% and a return on equity of 15.22%. The business had revenue of $769.20 million during the quarter, compared to analysts’ expectations of $678.46 million. During the same period last year, the company posted $0.08 earnings per share. The firm’s quarterly revenue was up 34.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Construction Partners will post 2.95 EPS for the current fiscal year.

Institutional Trading of Construction Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geneva Capital Management LLC increased its position in Construction Partners by 0.3% in the 4th quarter. Geneva Capital Management LLC now owns 1,821,134 shares of the company’s stock worth $197,684,000 after buying an additional 6,163 shares during the period. Invesco Ltd. boosted its position in shares of Construction Partners by 23.7% in the fourth quarter. Invesco Ltd. now owns 1,481,914 shares of the company’s stock valued at $160,862,000 after acquiring an additional 284,082 shares during the period. Geode Capital Management LLC boosted its position in shares of Construction Partners by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 1,163,923 shares of the company’s stock valued at $126,364,000 after acquiring an additional 4,118 shares during the period. State Street Corp grew its stake in shares of Construction Partners by 4.7% in the second quarter. State Street Corp now owns 1,112,231 shares of the company’s stock worth $118,208,000 after acquiring an additional 49,898 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Construction Partners by 29.6% in the first quarter. First Trust Advisors LP now owns 1,030,378 shares of the company’s stock worth $114,496,000 after acquiring an additional 235,616 shares during the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.

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.