Construction Partners (NASDAQ:ROAD) Raised to “Buy” at B. Riley Financial

Construction Partners (NASDAQ:ROAD) was upgraded by B. Riley Financial from a “neutral” rating to a “buy” rating in a report issued on Thursday, Marketbeat.com reports. The firm currently has a $135.00 target price on the stock, up from their previous target price of $117.00. B. Riley Financial’s target price suggests a potential upside of 27.49% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on ROAD. Zacks Research raised Construction Partners from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 29th. DA Davidson increased their target price on Construction Partners from $120.00 to $130.00 and gave the stock a “neutral” rating in a research note on Friday, February 6th. Robert W. Baird set a $142.00 target price on Construction Partners in a report on Friday, February 6th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Construction Partners in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $131.40.

Construction Partners Price Performance

Construction Partners stock opened at $105.89 on Thursday. The company’s 50 day simple moving average is $121.46 and its 200-day simple moving average is $116.96. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.26 and a current ratio of 1.59. Construction Partners has a 1 year low of $64.79 and a 1 year high of $141.90. The company has a market capitalization of $5.98 billion, a price-to-earnings ratio of 48.13, a price-to-earnings-growth ratio of 0.93 and a beta of 0.92.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings data on Thursday, February 5th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.16. Construction Partners had a net margin of 3.99% and a return on equity of 15.26%. The firm had revenue of $809.47 million during the quarter, compared to analysts’ expectations of $740.14 million. During the same quarter last year, the company posted $0.25 EPS. The firm’s quarterly revenue was up 44.1% on a year-over-year basis. As a group, equities research analysts expect that Construction Partners will post 1.96 earnings per share for the current year.

Institutional Trading of Construction Partners

A number of large investors have recently modified their holdings of the stock. Castleark Management LLC acquired a new stake in Construction Partners in the 2nd quarter valued at about $5,386,000. Universal Beteiligungs und Servicegesellschaft mbH grew its position in shares of Construction Partners by 10.4% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 100,106 shares of the company’s stock worth $12,713,000 after buying an additional 9,435 shares in the last quarter. AGF Management Ltd. acquired a new position in shares of Construction Partners during the third quarter worth about $15,062,000. American Century Companies Inc. increased its stake in shares of Construction Partners by 5.6% during the third quarter. American Century Companies Inc. now owns 1,039,928 shares of the company’s stock worth $132,071,000 after buying an additional 55,049 shares during the period. Finally, Telligent Fund LP purchased a new stake in shares of Construction Partners during the third quarter worth approximately $1,016,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

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.