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

Shares of Construction Partners, Inc. (NASDAQ:ROAD) have been given a consensus rating of “Moderate Buy” by the eight analysts that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $132.50.

A number of analysts recently weighed in on the stock. B. Riley Financial raised shares of Construction Partners from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $117.00 to $135.00 in a report on Thursday, April 2nd. Zacks Research raised shares of Construction Partners from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Truist Financial initiated coverage on shares of Construction Partners in a research report on Wednesday, June 3rd. They issued a “hold” rating and a $130.00 target price for the company. Robert W. Baird dropped their price target on shares of Construction Partners from $169.00 to $145.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 1st. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $140.00 price target on shares of Construction Partners in a report on Monday, April 27th.

Construction Partners Stock Performance

Shares of Construction Partners stock opened at $95.50 on Friday. The firm has a market cap of $5.40 billion, a PE ratio of 41.89, a price-to-earnings-growth ratio of 0.85 and a beta of 0.88. The firm’s 50-day simple moving average is $117.14 and its 200-day simple moving average is $117.89. 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 has a 1 year low of $93.22 and a 1 year high of $151.00.

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, topping 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 firm had revenue of $769.20 million for the quarter, compared to analysts’ expectations of $678.46 million. During the same period last year, the business posted $0.08 earnings per share. The firm’s revenue for the quarter was up 34.6% on a year-over-year basis. Equities analysts forecast that Construction Partners will post 2.95 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Construction Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geneva Capital Management LLC lifted its position in shares of Construction Partners by 0.3% during the 4th quarter. Geneva Capital Management LLC now owns 1,821,134 shares of the company’s stock valued at $197,684,000 after acquiring an additional 6,163 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Construction Partners by 23.7% in 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 last quarter. Geode Capital Management LLC raised its position in shares of Construction Partners by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 1,163,923 shares of the company’s stock worth $126,364,000 after purchasing an additional 4,118 shares during the period. State Street Corp raised its position in shares of Construction Partners by 4.7% during the second quarter. State Street Corp now owns 1,112,231 shares of the company’s stock worth $118,208,000 after purchasing an additional 49,898 shares during the period. Finally, First Trust Advisors LP lifted its holdings in shares of Construction Partners by 29.6% during the first quarter. First Trust Advisors LP now owns 1,030,378 shares of the company’s stock valued at $114,496,000 after purchasing an additional 235,616 shares during the last quarter. Institutional investors own 94.83% of the company’s stock.

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.