Construction Partners, Inc. (NASDAQ:ROAD) Given Consensus Rating of “Moderate Buy” by Analysts

Construction Partners, Inc. (NASDAQ:ROAD) has earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $133.50.

A number of research firms recently issued reports on ROAD. Raymond James Financial decreased their price target on shares of Construction Partners from $161.00 to $150.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, July 15th. Zacks Research downgraded shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 16th. Truist Financial started coverage on shares of Construction Partners in a research report on Wednesday, June 3rd. They set a “hold” rating and a $130.00 target price on the stock. Weiss Ratings downgraded shares of Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Finally, Robert W. Baird dropped their price target on Construction Partners from $145.00 to $141.00 and set an “outperform” rating for the company in a research report on Monday.

Construction Partners Stock Performance

NASDAQ:ROAD opened at $118.16 on Tuesday. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.57 and a quick ratio of 1.26. Construction Partners has a 1 year low of $93.42 and a 1 year high of $151.00. The stock’s 50 day simple moving average is $109.65 and its two-hundred day simple moving average is $116.61. The company has a market cap of $6.68 billion, a price-to-earnings ratio of 46.34, a PEG ratio of 1.01 and a beta of 0.90.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings data on Friday, August 7th. The company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.07. Construction Partners had a return on equity of 16.06% and a net margin of 4.10%.The business had revenue of $999.42 million for the quarter, compared to analysts’ expectations of $948.77 million. During the same period in the prior year, the firm earned $0.81 EPS. The company’s revenue for the quarter was up 28.2% on a year-over-year basis. As a group, equities analysts anticipate that Construction Partners will post 2.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Construction Partners

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its position in Construction Partners by 3.2% in the first quarter. Bank of New York Mellon Corp now owns 579,757 shares of the company’s stock worth $64,423,000 after buying an additional 17,851 shares during the last quarter. Artemis Investment Management LLP boosted its stake in Construction Partners by 7.8% during the fourth quarter. Artemis Investment Management LLP now owns 708,617 shares of the company’s stock worth $76,920,000 after buying an additional 51,052 shares during the period. Comerica Bank increased its position in Construction Partners by 30.1% during the fourth quarter. Comerica Bank now owns 255,975 shares of the company’s stock valued at $27,786,000 after acquiring an additional 59,244 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Construction Partners by 19.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 967,350 shares of the company’s stock valued at $109,214,000 after acquiring an additional 156,469 shares during the last quarter. Finally, Clearbridge Investments LLC raised its stake in shares of Construction Partners by 30.9% in the fourth quarter. Clearbridge Investments LLC now owns 846,103 shares of the company’s stock valued at $91,844,000 after acquiring an additional 199,853 shares during the period. Hedge funds and other 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.