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

Shares of Construction Partners, Inc. (NASDAQ:ROAD) have earned an average rating of “Moderate Buy” from the eight ratings firms that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $133.50.

ROAD has been the topic of several research reports. Raymond James Financial reduced 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 report on Wednesday, July 15th. Weiss Ratings upgraded shares of Construction Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Truist Financial began coverage on shares of Construction Partners in a research note on Wednesday, June 3rd. They issued a “hold” rating and a $130.00 price objective for the company. Robert W. Baird reduced their target price on shares of Construction Partners from $145.00 to $141.00 and set an “outperform” rating on the stock in a report on Monday, August 10th. Finally, Zacks Research downgraded shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 16th.

Institutional Investors Weigh In On Construction Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Morse Asset Management Inc raised its position in Construction Partners by 300.0% during the third quarter. Morse Asset Management Inc now owns 240 shares of the company’s stock valued at $30,000 after purchasing an additional 180 shares during the period. Danske Bank A S purchased a new position in shares of Construction Partners in the 3rd quarter worth approximately $38,000. Harbor Investment Advisory LLC purchased a new position in shares of Construction Partners in the 1st quarter worth approximately $39,000. Hollencrest Capital Management bought a new position in shares of Construction Partners during the 1st quarter valued at approximately $39,000. Finally, Quarry LP bought a new position in shares of Construction Partners during the 3rd quarter valued at approximately $42,000. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Construction Partners Stock Performance

NASDAQ ROAD opened at $110.10 on Friday. The stock has a market capitalization of $6.25 billion, a PE ratio of 43.18, a P/E/G ratio of 1.07 and a beta of 0.89. The business has a 50 day simple moving average of $110.09 and a two-hundred day simple moving average of $116.61. 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.

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. The business had revenue of $999.42 million for the quarter, compared to analysts’ expectations of $948.77 million. Construction Partners had a return on equity of 16.06% and a net margin of 4.10%.The company’s revenue for the quarter was up 28.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.81 EPS. On average, research analysts predict that Construction Partners will post 3.02 EPS for the current fiscal year.

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.