Construction Partners (NASDAQ:ROAD) Upgraded at Zacks Research

Zacks Research upgraded shares of Construction Partners (NASDAQ:ROAD) from a strong sell rating to a strong-buy rating in a research note published on Thursday morning,Zacks.com reports.

Several other brokerages have also recently commented on ROAD. Bank of America dropped their price target on Construction Partners from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, November 21st. DA Davidson reiterated a “neutral” rating and set a $120.00 price objective on shares of Construction Partners in a research report on Friday, November 21st. Robert W. Baird dropped their target price on Construction Partners from $131.00 to $124.00 and set an “outperform” rating for the company in a report on Friday, November 21st. B. Riley started coverage on Construction Partners in a report on Thursday, January 15th. They set a “neutral” rating and a $117.00 price target on the stock. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $135.00 price target (up previously from $120.00) on shares of Construction Partners in a research report on Tuesday, October 21st. 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $122.20.

Construction Partners Trading Down 2.6%

Shares of NASDAQ:ROAD opened at $109.88 on Thursday. The business’s 50 day moving average price is $110.35 and its 200-day moving average price is $113.82. Construction Partners has a 1 year low of $64.79 and a 1 year high of $138.90. The firm has a market capitalization of $6.21 billion, a price-to-earnings ratio of 60.04, a price-to-earnings-growth ratio of 1.06 and a beta of 0.87. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.61 and a quick ratio of 1.34.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings data on Thursday, November 20th. The company reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.04). Construction Partners had a return on equity of 14.42% and a net margin of 3.62%.The company had revenue of $899.85 million for the quarter, compared to analyst estimates of $896.17 million. During the same quarter in the prior year, the company posted $0.56 earnings per share. The business’s revenue was up 67.2% on a year-over-year basis. On average, equities research analysts forecast that Construction Partners will post 1.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Construction Partners

Institutional investors have recently made changes to their positions in the stock. State of New Jersey Common Pension Fund D lifted its holdings in shares of Construction Partners by 11.7% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 20,481 shares of the company’s stock worth $2,223,000 after acquiring an additional 2,141 shares during the last quarter. PVG Asset Management Corp acquired a new position in Construction Partners during the fourth quarter worth $260,000. Simplicity Wealth LLC boosted its position in shares of Construction Partners by 31.6% during the fourth quarter. Simplicity Wealth LLC now owns 3,361 shares of the company’s stock worth $365,000 after buying an additional 807 shares during the period. Caldwell Trust Co grew its stake in shares of Construction Partners by 17.6% in the fourth quarter. Caldwell Trust Co now owns 1,587 shares of the company’s stock valued at $172,000 after buying an additional 237 shares in the last quarter. Finally, Comerica Bank raised its holdings in shares of Construction Partners by 30.1% in the 4th quarter. Comerica Bank now owns 255,975 shares of the company’s stock valued at $27,786,000 after buying an additional 59,244 shares during the period. 94.83% of the stock is currently owned by institutional investors and hedge funds.

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.