Construction Partners (NASDAQ:ROAD) Stock Price Up 6.7% – Still a Buy?

Construction Partners, Inc. (NASDAQ:ROAD)’s stock price rose 6.7% on Wednesday . The company traded as high as $104.00 and last traded at $103.8770. Approximately 269,155 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 582,848 shares. The stock had previously closed at $97.35.

Wall Street Analyst Weigh In

A number of research analysts have commented on ROAD shares. Raymond James Financial reissued a “strong-buy” rating and set a $150.00 target price on shares of Construction Partners in a research report on Wednesday. Weiss Ratings cut shares of Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. B. Riley Financial upgraded shares of Construction Partners from a “neutral” rating to a “buy” rating and increased their price objective for the company from $117.00 to $135.00 in a research note on Thursday, April 2nd. Truist Financial began coverage on shares of Construction Partners in a report on Wednesday, June 3rd. They set a “hold” rating and a $130.00 price objective on the stock. Finally, Zacks Research raised shares of Construction Partners from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Construction Partners presently has an average rating of “Moderate Buy” and a consensus target price of $134.17.

Construction Partners Stock Performance

The business has a 50-day moving average price of $115.45 and a 200-day moving average price of $117.54. The company has a quick ratio of 1.21, a current ratio of 1.53 and a debt-to-equity ratio of 1.75. The firm has a market capitalization of $5.92 billion, a price-to-earnings ratio of 45.92, a P/E/G ratio of 0.78 and a beta of 0.88.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings data on Friday, May 8th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.23. Construction Partners had a return on equity of 15.22% and a net margin of 3.90%.The firm had revenue of $769.20 million during the quarter, compared to analysts’ expectations of $678.46 million. During the same quarter last year, the firm earned $0.08 EPS. The business’s quarterly revenue was up 34.6% on a year-over-year basis. As a group, sell-side analysts forecast that Construction Partners, Inc. will post 2.95 earnings per share for the current year.

Institutional Investors Weigh In On Construction Partners

Institutional investors have recently added to or reduced their stakes in the business. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Construction Partners in the fourth quarter worth about $42,518,000. Artemis Investment Management LLP raised its position in Construction Partners by 7.8% during the fourth quarter. Artemis Investment Management LLP now owns 708,617 shares of the company’s stock valued at $76,920,000 after acquiring an additional 51,052 shares in the last quarter. Comerica Bank lifted its holdings in Construction Partners by 30.1% in the fourth quarter. Comerica Bank now owns 255,975 shares of the company’s stock valued at $27,786,000 after acquiring an additional 59,244 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Construction Partners by 38.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 810,881 shares of the company’s stock worth $90,948,000 after purchasing an additional 224,575 shares in the last quarter. Finally, 49 Wealth Management LLC purchased a new stake in Construction Partners in the 4th quarter worth approximately $3,076,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

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.