Construction Partners (NASDAQ:ROAD) Coverage Initiated by Analysts at Truist Financial

Truist Financial began coverage on shares of Construction Partners (NASDAQ:ROAD) in a research note released on Wednesday, Marketbeat Ratings reports. The firm issued a hold rating and a $130.00 price target on the stock.

Other equities analysts have also recently issued reports about the company. Zacks Research cut Construction Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. DA Davidson lifted their price target on Construction Partners from $120.00 to $130.00 and gave the company a “neutral” rating in a research report on Friday, February 6th. B. Riley Financial upgraded Construction Partners from a “neutral” rating to a “buy” rating and lifted their price target for the company from $117.00 to $135.00 in a research report on Thursday, April 2nd. Weiss Ratings cut Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Finally, Robert W. Baird lifted their target price on Construction Partners from $129.00 to $169.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Construction Partners has a consensus rating of “Moderate Buy” and a consensus price target of $136.50.

Construction Partners Stock Down 0.9%

Shares of ROAD stock opened at $110.40 on Wednesday. Construction Partners has a 1 year low of $93.22 and a 1 year high of $151.00. The stock has a market cap of $6.24 billion, a PE ratio of 48.42, a price-to-earnings-growth ratio of 0.93 and a beta of 0.88. The business’s fifty day moving average is $117.41 and its 200-day moving average is $116.48. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.21 and a current ratio of 1.53.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings results on Friday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.23. Construction Partners had a return on equity of 15.22% and a net margin of 3.90%.The company had revenue of $769.20 million for the quarter, compared to analysts’ expectations of $678.46 million. During the same period last year, the firm earned $0.08 EPS. The firm’s revenue for the quarter was up 34.6% on a year-over-year basis. Equities analysts expect that Construction Partners will post 2.95 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Construction Partners

A number of hedge funds have recently modified their holdings of ROAD. AQR Capital Management LLC grew 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 acquiring an additional 1,302 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Construction Partners by 11.2% in the first 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 buying an additional 9,656 shares during the period. Intech Investment Management LLC boosted its position in shares of Construction Partners by 11.4% in the first quarter. Intech Investment Management LLC now owns 24,292 shares of the company’s stock worth $1,746,000 after buying an additional 2,482 shares during the period. Strs Ohio acquired a new stake in shares of Construction Partners in the first quarter worth $165,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of Construction Partners in the second quarter worth $552,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

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.