Robert W. Baird Lowers Construction Partners (NASDAQ:ROAD) Price Target to $124.00

Construction Partners (NASDAQ:ROAD) had its price target lowered by Robert W. Baird from $131.00 to $124.00 in a report issued on Friday, Marketbeat Ratings reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price target points to a potential upside of 22.58% from the stock’s previous close.

ROAD has been the topic of a number of other research reports. Bank of America cut their price target on shares of Construction Partners from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Friday. Weiss Ratings reiterated a “hold (c)” rating on shares of Construction Partners in a research note on Tuesday. Zacks Research cut Construction Partners from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $135.00 price target (up from $120.00) on shares of Construction Partners in a report on Tuesday, October 21st. Finally, DA Davidson increased their price objective on Construction Partners from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday, October 23rd. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Construction Partners has a consensus rating of “Moderate Buy” and a consensus price target of $123.50.

Construction Partners Price Performance

ROAD opened at $101.16 on Friday. The firm has a market cap of $5.67 billion, a PE ratio of 55.28, a P/E/G ratio of 0.89 and a beta of 1.02. The stock has a 50-day moving average price of $118.76 and a 200-day moving average price of $111.46. Construction Partners has a 1 year low of $64.79 and a 1 year high of $138.90. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.47 and a quick ratio of 1.20.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings data on Thursday, November 20th. The company reported $1.07 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.04). The firm had revenue of $899.85 million for the quarter, compared to analysts’ expectations 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 for the quarter was up 67.2% compared to the same quarter last year. During the same period last year, the company posted $0.56 earnings per share. Sell-side analysts predict that Construction Partners will post 1.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Construction Partners by 5.0% in the first quarter. Vanguard Group Inc. now owns 3,666,331 shares of the company’s stock worth $263,499,000 after purchasing an additional 173,963 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Construction Partners by 0.5% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,592,079 shares of the company’s stock worth $186,293,000 after purchasing an additional 12,808 shares during the period. Invesco Ltd. boosted its holdings in shares of Construction Partners by 4.2% in the second quarter. Invesco Ltd. now owns 1,308,761 shares of the company’s stock worth $139,095,000 after buying an additional 52,670 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Construction Partners by 1.6% in the second quarter. Geode Capital Management LLC now owns 1,153,123 shares of the company’s stock worth $122,568,000 after buying an additional 18,229 shares during the last quarter. Finally, State Street Corp grew its position in Construction Partners by 4.7% during the second quarter. State Street Corp now owns 1,112,231 shares of the company’s stock valued at $118,208,000 after buying an additional 49,898 shares during the period. Institutional investors own 94.83% of the company’s stock.

About Construction Partners

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.