Construction Partners (NASDAQ:ROAD) Stock Price Up 7.1% – Time to Buy?

Construction Partners, Inc. (NASDAQ:ROAD)’s stock price rose 7.1% on Friday . The stock traded as high as $112.48 and last traded at $113.2310. Approximately 147,381 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 549,324 shares. The stock had previously closed at $105.70.

Wall Street Analyst Weigh In

ROAD has been the topic of several recent analyst reports. Weiss Ratings cut Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Zacks Research lowered Construction Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Raymond James Financial reiterated a “strong-buy” rating and set a $140.00 price objective on shares of Construction Partners in a research report on Monday, April 27th. Truist Financial started coverage on Construction Partners in a research report on Wednesday, June 3rd. They set a “hold” rating and a $130.00 price objective on the stock. Finally, Robert W. Baird increased their price objective on Construction Partners from $129.00 to $169.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Construction Partners presently has a consensus rating of “Moderate Buy” and an average price target of $136.50.

Construction Partners Price Performance

The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.21 and a current ratio of 1.53. The stock has a market capitalization of $6.44 billion, a P/E ratio of 49.94, a price-to-earnings-growth ratio of 0.95 and a beta of 0.88. The firm has a 50-day moving average price of $117.25 and a 200 day moving average price of $116.65.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings data on Friday, May 8th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.23. The firm had revenue of $769.20 million for the quarter, compared to analyst estimates of $678.46 million. Construction Partners had a return on equity of 15.22% and a net margin of 3.90%.The company’s revenue was up 34.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.08 EPS. On average, analysts expect that Construction Partners, Inc. will post 2.95 EPS for the current year.

Hedge Funds Weigh In On Construction Partners

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Janus Henderson Group PLC grew its position in Construction Partners by 11.5% during the 1st quarter. Janus Henderson Group PLC now owns 22,367 shares of the company’s stock worth $2,488,000 after acquiring an additional 2,300 shares during the last quarter. Amundi bought a new position in Construction Partners during the 1st quarter worth approximately $392,000. California State Teachers Retirement System grew its position in Construction Partners by 23.8% during the 1st quarter. California State Teachers Retirement System now owns 55,972 shares of the company’s stock worth $6,220,000 after acquiring an additional 10,759 shares during the last quarter. Empowered Funds LLC bought a new position in Construction Partners during the 1st quarter worth approximately $292,000. Finally, Engle Capital Management L.P. grew its position in Construction Partners by 10.8% during the 1st quarter. Engle Capital Management L.P. now owns 205,000 shares of the company’s stock worth $22,780,000 after acquiring an additional 20,000 shares during the last quarter. 94.83% of the stock is currently owned by institutional investors.

About Construction Partners

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.