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

Construction Partners, Inc. (NASDAQ:ROAD) has been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $133.50.

ROAD has been the subject of a number of recent research reports. Zacks Research downgraded shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 16th. Truist Financial initiated coverage on Construction Partners in a research note on Wednesday, June 3rd. They issued a “hold” rating and a $130.00 price objective on the stock. Raymond James Financial cut their price objective on Construction Partners from $161.00 to $150.00 and set a “strong-buy” rating for the company in a research note on Wednesday, July 15th. Weiss Ratings upgraded shares of Construction Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Finally, Robert W. Baird reduced their price objective on shares of Construction Partners from $145.00 to $141.00 and set an “outperform” rating for the company in a research note on Monday, August 10th.

Institutional Trading of Construction Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Morse Asset Management Inc grew its holdings in Construction Partners by 300.0% during the 3rd quarter. Morse Asset Management Inc now owns 240 shares of the company’s stock valued at $30,000 after buying an additional 180 shares in the last quarter. Danske Bank A S bought a new position in shares of Construction Partners during the 3rd quarter valued at about $38,000. Harbor Investment Advisory LLC purchased a new position in shares of Construction Partners during the first quarter valued at about $39,000. Hollencrest Capital Management purchased a new position in shares of Construction Partners during the first quarter valued at about $39,000. Finally, Quarry LP bought a new stake in shares of Construction Partners in the third quarter worth about $42,000. Institutional investors own 94.83% of the company’s stock.

Construction Partners Price Performance

Shares of ROAD opened at $104.68 on Friday. The firm has a fifty day simple moving average of $107.92 and a two-hundred day simple moving average of $115.62. The firm has a market cap of $5.94 billion, a PE ratio of 41.05, a P/E/G ratio of 0.96 and a beta of 0.90. The company has a current ratio of 1.57, a quick ratio of 1.26 and a debt-to-equity ratio of 1.68. Construction Partners has a 1-year low of $93.42 and a 1-year high of $151.00.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings data on Friday, August 7th. The company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.07. The company had revenue of $999.42 million during the quarter, compared to analysts’ expectations of $948.77 million. Construction Partners had a return on equity of 16.06% and a net margin of 4.10%.Construction Partners’s revenue for the quarter was up 28.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.81 earnings per share. On average, equities analysts anticipate that Construction Partners will post 3.02 EPS for the current year.

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.