Construction Partners (NASDAQ:ROAD) Sets New 52-Week High at $55.94

Construction Partners, Inc. (NASDAQ:ROAD) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $55.94 and last traded at $55.81, with a volume of 215351 shares. The stock had previously closed at $55.50.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Sidoti downgraded Construction Partners from a “buy” rating to a “neutral” rating and set a $59.00 target price for the company. in a research report on Thursday. Raymond James increased their price target on Construction Partners from $45.00 to $49.00 and gave the company a “strong-buy” rating in a report on Friday, December 1st. Stifel Nicolaus increased their price target on Construction Partners from $51.00 to $57.00 and gave the company a “buy” rating in a report on Monday, February 12th. Finally, Robert W. Baird lowered Construction Partners from an “outperform” rating to a “neutral” rating and increased their price target for the company from $46.00 to $50.00 in a report on Monday, February 12th. Two investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $52.00.

Construction Partners Stock Performance

The company has a quick ratio of 1.39, a current ratio of 1.75 and a debt-to-equity ratio of 0.82. The business has a 50 day simple moving average of $48.68 and a two-hundred day simple moving average of $43.22. The firm has a market cap of $2.96 billion, a PE ratio of 51.99, a price-to-earnings-growth ratio of 1.44 and a beta of 0.64.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings results on Friday, February 9th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.13 by $0.06. The firm had revenue of $396.51 million for the quarter, compared to analyst estimates of $393.62 million. Construction Partners had a return on equity of 11.56% and a net margin of 3.52%. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.04 earnings per share. As a group, equities research analysts forecast that Construction Partners, Inc. will post 1.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Construction Partners

A number of institutional investors have recently added to or reduced their stakes in ROAD. Creative Planning boosted its holdings in Construction Partners by 3.3% in the fourth quarter. Creative Planning now owns 6,978 shares of the company’s stock worth $304,000 after acquiring an additional 223 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Construction Partners by 40.4% during the third quarter. Public Employees Retirement System of Ohio now owns 1,102 shares of the company’s stock worth $29,000 after buying an additional 317 shares in the last quarter. Arizona State Retirement System raised its holdings in Construction Partners by 3.7% in the 4th quarter. Arizona State Retirement System now owns 12,225 shares of the company’s stock worth $532,000 after purchasing an additional 439 shares during the period. Captrust Financial Advisors raised its stake in shares of Construction Partners by 37.1% during the 2nd quarter. Captrust Financial Advisors now owns 2,223 shares of the company’s stock worth $47,000 after buying an additional 602 shares during the period. Finally, KBC Group NV acquired a new stake in shares of Construction Partners in the fourth quarter valued at about $28,000. 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.