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

Shares of Construction Partners, Inc. (NASDAQ:ROAD) have earned an average rating of “Moderate Buy” from the eight ratings firms that are currently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $136.50.

Several equities analysts have issued reports on the stock. Zacks Research downgraded shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Weiss Ratings downgraded shares of Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. B. Riley Financial raised shares of Construction Partners from a “neutral” rating to a “buy” rating and raised their price target for the company from $117.00 to $135.00 in a research note on Thursday, April 2nd. Robert W. Baird lifted their price objective on Construction Partners from $129.00 to $169.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Finally, Truist Financial began coverage on Construction Partners in a research note on Wednesday, June 3rd. They set a “hold” rating and a $130.00 price objective for the company.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Tyro Capital Management LLC grew its holdings in Construction Partners by 6.8% in the 3rd quarter. Tyro Capital Management LLC now owns 164,488 shares of the company’s stock valued at $20,890,000 after buying an additional 10,465 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Construction Partners by 5.6% during the 3rd quarter. American Century Companies Inc. now owns 1,039,928 shares of the company’s stock worth $132,071,000 after acquiring an additional 55,049 shares during the period. Telligent Fund LP purchased a new position in shares of Construction Partners during the 3rd quarter worth $1,016,000. First Trust Advisors LP boosted its position in shares of Construction Partners by 33.2% during the 3rd quarter. First Trust Advisors LP now owns 1,059,566 shares of the company’s stock valued at $134,565,000 after acquiring an additional 264,069 shares during the last quarter. Finally, Pinnbrook Capital Management LP purchased a new stake in shares of Construction Partners in the third quarter valued at about $6,277,000. 94.83% of the stock is owned by institutional investors and hedge funds.

Construction Partners Price Performance

Construction Partners stock opened at $113.87 on Monday. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.53 and a quick ratio of 1.21. The stock has a market capitalization of $6.44 billion, a PE ratio of 49.94, a price-to-earnings-growth ratio of 0.95 and a beta of 0.88. The business has a 50 day simple moving average of $117.25 and a 200-day simple moving average of $116.75. Construction Partners has a 12 month low of $93.22 and a 12 month high of $151.00.

Construction Partners (NASDAQ:ROAD) last announced its earnings results 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 firm had revenue of $769.20 million for the quarter, compared to analyst estimates of $678.46 million. Construction Partners had a return on equity of 15.22% and a net margin of 3.90%.The business’s revenue was up 34.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.08 EPS. On average, analysts anticipate that Construction Partners will post 2.95 EPS for the current fiscal year.

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.