Construction Partners, Inc. (NASDAQ:ROAD) Receives $123.50 Consensus Price Target from Analysts

Construction Partners, Inc. (NASDAQ:ROAD) has received a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $123.50.

A number of equities research analysts have issued reports on the stock. DA Davidson reissued a “neutral” rating and set a $120.00 target price on shares of Construction Partners in a report on Friday, November 21st. Zacks Research lowered Construction Partners from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Raymond James Financial restated a “strong-buy” rating and issued a $135.00 target price (up previously from $120.00) on shares of Construction Partners in a research note on Tuesday, October 21st. Robert W. Baird reduced their target price on Construction Partners from $131.00 to $124.00 and set an “outperform” rating for the company in a report on Friday, November 21st. Finally, Weiss Ratings downgraded shares of Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, December 22nd.

Construction Partners Trading Up 0.9%

Shares of ROAD opened at $113.07 on Monday. Construction Partners has a fifty-two week low of $64.79 and a fifty-two week high of $138.90. The business has a 50-day moving average of $110.15 and a 200 day moving average of $112.60. The firm has a market cap of $6.39 billion, a P/E ratio of 61.79, a price-to-earnings-growth ratio of 1.08 and a beta of 0.89. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.34 and a current ratio of 1.61.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ROAD. Swiss Life Asset Management Ltd purchased a new position in shares of Construction Partners during the 3rd quarter valued at $279,000. CIBC Bancorp USA Inc. bought a new position in Construction Partners in the 3rd quarter worth about $636,000. Danske Bank A S bought a new position in Construction Partners in the 3rd quarter worth about $38,000. Advisory Services Network LLC raised its holdings in shares of Construction Partners by 8.8% in the 3rd quarter. Advisory Services Network LLC now owns 5,764 shares of the company’s stock valued at $732,000 after acquiring an additional 468 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its position in shares of Construction Partners by 56.4% during the 3rd quarter. NewEdge Advisors LLC now owns 882 shares of the company’s stock valued at $112,000 after acquiring an additional 318 shares during the last quarter. 94.83% of the stock is owned by institutional investors.

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.