Construction Partners (NASDAQ:ROAD) Given New $145.00 Price Target at Robert W. Baird

Construction Partners (NASDAQ:ROAD) had its target price cut by equities researchers at Robert W. Baird from $169.00 to $145.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price target indicates a potential upside of 22.08% from the stock’s current price.

A number of other brokerages have also recently weighed in on ROAD. Raymond James Financial restated a “strong-buy” rating and issued a $140.00 price objective on shares of Construction Partners in a report on Monday, April 27th. B. Riley Financial raised Construction Partners from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $117.00 to $135.00 in a research report on Thursday, April 2nd. Weiss Ratings downgraded Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Zacks Research lowered Construction Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Finally, Truist Financial began coverage on Construction Partners in a research note on Wednesday, June 3rd. They set a “hold” rating and a $130.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $132.50.

Construction Partners Stock Performance

Shares of ROAD stock opened at $118.77 on Wednesday. Construction Partners has a 12 month low of $93.22 and a 12 month high of $151.00. The stock has a market cap of $6.71 billion, a PE ratio of 52.09, a price-to-earnings-growth ratio of 1.00 and a beta of 0.88. The company has a current ratio of 1.53, a quick ratio of 1.21 and a debt-to-equity ratio of 1.75. The company’s fifty day moving average price is $119.49 and its 200-day moving average price is $118.14.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings results 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 net margin of 3.90% and a return on equity of 15.22%. The company had revenue of $769.20 million during the quarter, compared to analyst estimates of $678.46 million. During the same period last year, the business earned $0.08 EPS. Construction Partners’s quarterly revenue was up 34.6% compared to the same quarter last year. On average, equities analysts expect that Construction Partners will post 2.95 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. AQR Capital Management LLC lifted its stake in shares of Construction Partners by 14.4% in the first quarter. AQR Capital Management LLC now owns 10,333 shares of the company’s stock worth $743,000 after buying an additional 1,302 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Construction Partners by 11.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 96,191 shares of the company’s stock valued at $6,913,000 after acquiring an additional 9,656 shares in the last quarter. Intech Investment Management LLC raised its holdings in Construction Partners by 11.4% in the 1st quarter. Intech Investment Management LLC now owns 24,292 shares of the company’s stock worth $1,746,000 after acquiring an additional 2,482 shares during the last quarter. Strs Ohio bought a new position in Construction Partners in the 1st quarter valued at approximately $165,000. Finally, Hsbc Holdings PLC bought a new position in Construction Partners in the 2nd quarter valued at approximately $552,000. 94.83% of the stock is owned by hedge funds and other 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.