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

Shares of Construction Partners, Inc. (NASDAQ:ROAD) have been assigned an average rating of “Moderate Buy” from the seven research firms that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $137.80.

A number of brokerages have issued reports on ROAD. Raymond James Financial reiterated a “strong-buy” rating and set a $140.00 price objective on shares of Construction Partners in a research note on Monday, April 27th. Weiss Ratings upgraded Construction Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, April 21st. Robert W. Baird lifted their price objective on Construction Partners from $129.00 to $169.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. B. Riley Financial upgraded Construction Partners from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $117.00 to $135.00 in a research note on Thursday, April 2nd. Finally, Zacks Research lowered Construction Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th.

Construction Partners Stock Up 2.0%

Shares of NASDAQ:ROAD opened at $112.52 on Thursday. The stock has a fifty day simple moving average of $117.74 and a two-hundred day simple moving average of $116.34. The stock has a market capitalization of $6.36 billion, a price-to-earnings ratio of 49.35, a PEG ratio of 0.92 and a beta of 0.92. Construction Partners has a 12-month low of $93.22 and a 12-month high of $151.00. The company has a current ratio of 1.53, a quick ratio of 1.21 and a debt-to-equity ratio of 1.75.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings data on Friday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.23. The business had revenue of $769.20 million during the quarter, compared to analysts’ expectations of $678.46 million. Construction Partners had a return on equity of 15.22% and a net margin of 3.90%.The firm’s quarterly revenue was up 34.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.08 earnings per share. On average, research analysts anticipate that Construction Partners will post 2.95 earnings per share for the current fiscal year.

Institutional Trading of Construction Partners

A number of institutional investors and hedge funds have recently modified their holdings of ROAD. AQR Capital Management LLC increased its holdings in shares of Construction Partners by 14.4% in the 1st quarter. AQR Capital Management LLC now owns 10,333 shares of the company’s stock worth $743,000 after purchasing an additional 1,302 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Construction Partners by 11.2% in 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 purchasing an additional 9,656 shares in the last quarter. Intech Investment Management LLC increased its holdings in shares of Construction Partners by 11.4% in the 1st quarter. Intech Investment Management LLC now owns 24,292 shares of the company’s stock worth $1,746,000 after purchasing an additional 2,482 shares in the last quarter. Strs Ohio bought a new stake in shares of Construction Partners in the 1st quarter worth $165,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Construction Partners in the 2nd quarter worth $552,000. 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.