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

Shares of Construction Partners, Inc. (NASDAQ:ROAD) have earned a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $123.50.

A number of research analysts recently commented on ROAD shares. Weiss Ratings reissued a “hold (c)” rating on shares of Construction Partners in a report on Monday, November 24th. Raymond James Financial reissued a “strong-buy” rating and issued a $135.00 target price (up previously from $120.00) on shares of Construction Partners in a report on Tuesday, October 21st. Baird R W upgraded shares of Construction Partners from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 8th. Zacks Research downgraded shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Finally, Robert W. Baird dropped their price objective on shares of Construction Partners from $131.00 to $124.00 and set an “outperform” rating for the company in a report on Friday, November 21st.

Construction Partners Stock Performance

ROAD opened at $108.17 on Thursday. The company’s 50 day moving average is $116.05 and its 200 day moving average is $111.98. The company has a current ratio of 1.61, a quick ratio of 1.34 and a debt-to-equity ratio of 1.73. The company has a market cap of $6.07 billion, a price-to-earnings ratio of 59.11, a PEG ratio of 1.04 and a beta of 0.89. Construction Partners has a 12-month low of $64.79 and a 12-month high of $138.90.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings results on Thursday, November 20th. The company reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.04). The company had revenue of $899.85 million during the quarter, compared to analysts’ expectations of $896.17 million. Construction Partners had a return on equity of 14.42% and a net margin of 3.62%.The business’s quarterly revenue was up 67.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.56 EPS. On average, equities research analysts predict that Construction Partners will post 1.96 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ROAD. TD Waterhouse Canada Inc. purchased a new stake in Construction Partners during the 3rd quarter valued at $25,000. AlphaQuest LLC boosted its stake in Construction Partners by 292.5% during the third quarter. AlphaQuest LLC now owns 208 shares of the company’s stock worth $26,000 after buying an additional 155 shares during the period. Morse Asset Management Inc increased 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 acquiring an additional 180 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in shares of Construction Partners by 2,750.0% in the second quarter. Caitong International Asset Management Co. Ltd now owns 285 shares of the company’s stock valued at $30,000 after acquiring an additional 275 shares during the period. Finally, Danske Bank A S purchased a new stake in shares of Construction Partners in the third quarter valued at $38,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Construction Partners Company Profile

Construction Partners, Inc, a civil infrastructure company, constructs and maintains roadways in Alabama, Florida, Georgia, North Carolina, South Carolina, and Tennessee. The company provides various products and services to public and private infrastructure projects, such as highways, roads, bridges, airports, and commercial and residential developments.