Construction Partners, Inc. (NASDAQ:ROAD) Receives Average Rating of “Moderate Buy” from Analysts

Construction Partners, Inc. (NASDAQ:ROAD) has earned a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $127.80.

A number of research analysts recently issued reports on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Construction Partners in a report on Monday, December 29th. B. Riley Financial began coverage on Construction Partners in a research note on Thursday, January 15th. They issued a “neutral” rating and a $117.00 price objective for the company. DA Davidson upped their target price on shares of Construction Partners from $120.00 to $130.00 and gave the stock a “neutral” rating in a research note on Friday. Robert W. Baird set a $142.00 target price on shares of Construction Partners in a report on Friday. Finally, Bank of America lowered their price target on shares of Construction Partners from $120.00 to $115.00 and set a “buy” rating for the company in a report on Friday, November 21st.

Construction Partners Stock Down 0.3%

Shares of ROAD opened at $126.64 on Tuesday. The stock has a market capitalization of $7.16 billion, a PE ratio of 57.56, a P/E/G ratio of 1.18 and a beta of 0.87. 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 1.73, a quick ratio of 1.34 and a current ratio of 1.61. The company’s 50-day simple moving average is $112.05 and its 200-day simple moving average is $114.48.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings data on Thursday, February 5th. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.16. The firm had revenue of $809.47 million during the quarter, compared to analysts’ expectations of $740.14 million. Construction Partners had a net margin of 3.99% and a return on equity of 15.76%. The business’s quarterly revenue was up 44.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.25 earnings per share. Analysts forecast that Construction Partners will post 1.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Construction Partners

Large investors have recently bought and sold shares of the business. TD Waterhouse Canada Inc. purchased a new stake in Construction Partners during the 3rd quarter worth about $25,000. AlphaQuest LLC lifted its stake in Construction Partners by 292.5% during the third quarter. AlphaQuest LLC now owns 208 shares of the company’s stock worth $26,000 after purchasing an additional 155 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in Construction Partners by 2,750.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 285 shares of the company’s stock worth $30,000 after purchasing an additional 275 shares during the last quarter. Morse Asset Management Inc boosted its holdings in Construction Partners by 300.0% in the third quarter. Morse Asset Management Inc now owns 240 shares of the company’s stock valued at $30,000 after purchasing an additional 180 shares in the last quarter. Finally, Danske Bank A S purchased a new position in Construction Partners in the third quarter valued at approximately $38,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

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.