DA Davidson Reaffirms Neutral Rating for Construction Partners (NASDAQ:ROAD)

Construction Partners (NASDAQ:ROAD)‘s stock had its “neutral” rating reaffirmed by DA Davidson in a research note issued to investors on Friday,Benzinga reports. They currently have a $120.00 price objective on the stock. DA Davidson’s price target indicates a potential upside of 18.62% from the company’s previous close.

ROAD has been the topic of a number of other research reports. Baird R W raised Construction Partners from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 8th. Robert W. Baird cut their price target on Construction Partners from $131.00 to $124.00 and set an “outperform” rating for the company in a report on Friday. Weiss Ratings reiterated a “hold (c)” rating on shares of Construction Partners in a research report on Tuesday. Raymond James Financial restated a “strong-buy” rating and issued a $135.00 price objective (up previously from $120.00) on shares of Construction Partners in a research report on Tuesday, October 21st. Finally, Zacks Research downgraded shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $123.50.

Construction Partners Price Performance

NASDAQ:ROAD opened at $101.16 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.47 and a debt-to-equity ratio of 1.63. The firm has a market cap of $5.67 billion, a PE ratio of 55.28, a price-to-earnings-growth ratio of 0.89 and a beta of 1.02. Construction Partners has a 12 month low of $64.79 and a 12 month high of $138.90. The company’s 50-day moving average price is $118.76 and its two-hundred day moving average price is $111.46.

Construction Partners (NASDAQ:ROAD) last posted its earnings results on Thursday, November 20th. The company reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.04). The firm had revenue of $899.85 million during the quarter, compared to the consensus estimate of $896.17 million. Construction Partners had a net margin of 3.62% and a return on equity of 14.80%. The business’s revenue was up 67.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.56 EPS. On average, equities analysts anticipate that Construction Partners will post 1.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Atria Investments Inc raised its position in shares of Construction Partners by 5.5% during the 2nd quarter. Atria Investments Inc now owns 16,129 shares of the company’s stock valued at $1,714,000 after acquiring an additional 835 shares during the last quarter. Vanguard Personalized Indexing Management LLC bought a new position in shares of Construction Partners in the 2nd quarter worth $542,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Construction Partners during the second quarter worth $344,000. GAMMA Investing LLC increased its holdings in Construction Partners by 33.6% in the second quarter. GAMMA Investing LLC now owns 1,164 shares of the company’s stock valued at $124,000 after purchasing an additional 293 shares during the last quarter. Finally, Janney Montgomery Scott LLC acquired a new position in Construction Partners in the second quarter valued at about $802,000. Institutional investors own 94.83% of the company’s stock.

Construction Partners Company Profile

Construction Partners, Inc, a civil infrastructure company, constructs and maintains roadways in Alabama, Florida, Georgia, North Carolina, South Carolina, and Tennessee. The company provides various products and services to public and private infrastructure projects, such as highways, roads, bridges, airports, and commercial and residential developments.