Construction Partners (NASDAQ:ROAD) Upgraded at B. Riley Financial

B. Riley Financial upgraded shares of Construction Partners (NASDAQ:ROAD) from a neutral rating to a buy rating in a research report sent to investors on Thursday morning, MarketBeat Ratings reports. They currently have $135.00 target price on the stock, up from their prior target price of $117.00.

Several other research analysts have also commented on the company. Zacks Research upgraded Construction Partners from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Construction Partners in a research note on Monday, December 29th. DA Davidson lifted their target price on Construction Partners from $120.00 to $130.00 and gave the stock a “neutral” rating in a report on Friday, February 6th. Finally, Robert W. Baird set a $142.00 target price on Construction Partners in a research report on Friday, February 6th. 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 stock. Based on data from MarketBeat, Construction Partners presently has a consensus rating of “Buy” and a consensus target price of $131.40.

Construction Partners Stock Performance

Shares of NASDAQ ROAD opened at $105.89 on Thursday. The stock has a market cap of $5.98 billion, a P/E ratio of 48.13, a price-to-earnings-growth ratio of 0.93 and a beta of 0.92. Construction Partners has a 52-week low of $64.79 and a 52-week high of $141.90. The firm has a 50 day moving average price of $121.46 and a two-hundred day moving average price of $116.90. 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 (NASDAQ:ROAD) last posted its earnings results 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 analyst estimates of $740.14 million. Construction Partners had a net margin of 3.99% and a return on equity of 15.26%. Construction Partners’s revenue for the quarter was up 44.1% compared to the same quarter last year. During the same period last year, the firm posted $0.25 earnings per share. As a group, equities analysts forecast that Construction Partners will post 1.96 EPS for the current year.

Institutional Trading of Construction Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its stake in shares of Construction Partners by 14.4% during the first quarter. AQR Capital Management LLC now owns 10,333 shares of the company’s stock valued at $743,000 after buying an additional 1,302 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Construction Partners by 11.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 96,191 shares of the company’s stock worth $6,913,000 after acquiring an additional 9,656 shares during the last quarter. Intech Investment Management LLC lifted its stake in shares of Construction Partners by 11.4% during the 1st quarter. Intech Investment Management LLC now owns 24,292 shares of the company’s stock worth $1,746,000 after acquiring an additional 2,482 shares during the last quarter. Strs Ohio purchased a new position in Construction Partners during the 1st quarter valued at $165,000. Finally, JPMorgan Chase & Co. boosted its holdings in Construction Partners by 24.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 140,742 shares of the company’s stock valued at $14,958,000 after acquiring an additional 27,901 shares during the period. 94.83% of the stock is owned by hedge funds and other institutional investors.

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.