Construction Partners, Inc. (NASDAQ:ROAD) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Construction Partners, Inc. (NASDAQ:ROAD) have been assigned a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $127.80.

A number of research analysts have commented on ROAD shares. B. Riley Financial started coverage on Construction Partners in a report on Thursday, January 15th. They issued a “neutral” rating and a $117.00 price objective on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Construction Partners in a report on Monday, December 29th. Bank of America reduced their target price on shares of 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 upped their price target on shares of Construction Partners from $120.00 to $130.00 and gave the company a “neutral” rating in a research note on Friday, February 6th. Finally, Robert W. Baird set a $142.00 price objective on shares of Construction Partners in a research note on Friday, February 6th.

Construction Partners Trading Down 6.0%

Shares of NASDAQ:ROAD opened at $118.09 on Friday. Construction Partners has a 12-month low of $64.79 and a 12-month high of $141.90. The stock has a market cap of $6.67 billion, a PE ratio of 53.68, a P/E/G ratio of 1.12 and a beta of 0.83. The business has a 50 day moving average of $121.19 and a 200-day moving average of $117.98. The company has a quick ratio of 1.26, a current ratio of 1.59 and a debt-to-equity ratio of 1.76.

Construction Partners (NASDAQ:ROAD) last announced its earnings results 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. The company had revenue of $809.47 million for the quarter, compared to analyst estimates of $740.14 million. Construction Partners had a return on equity of 15.26% and a net margin of 3.99%.The firm’s quarterly revenue was up 44.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.25 earnings per share. As a group, equities research analysts forecast that Construction Partners will post 1.96 earnings per share for the current year.

Institutional Investors Weigh In On Construction Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in ROAD. Hsbc Holdings PLC boosted its stake in shares of Construction Partners by 191.7% in the fourth quarter. Hsbc Holdings PLC now owns 16,344 shares of the company’s stock valued at $1,787,000 after buying an additional 10,741 shares during the period. Invesco Ltd. increased its stake in Construction Partners by 23.7% during the 4th quarter. Invesco Ltd. now owns 1,481,914 shares of the company’s stock worth $160,862,000 after acquiring an additional 284,082 shares during the period. Mercer Global Advisors Inc. ADV increased its stake in Construction Partners by 16.5% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 3,092 shares of the company’s stock worth $336,000 after acquiring an additional 437 shares during the period. Zimmer Partners LP acquired a new position in Construction Partners in the 4th quarter valued at $13,026,000. Finally, SummitTX Capital L.P. bought a new stake in shares of Construction Partners during the 4th quarter valued at $7,084,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

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.