Robert W. Baird Cuts Construction Partners (NASDAQ:ROAD) Price Target to $141.00

Construction Partners (NASDAQ:ROAD) had its price target decreased by Robert W. Baird from $145.00 to $141.00 in a research note issued to investors on Monday, MarketBeat Ratings reports. Robert W. Baird currently has an outperform rating on the stock.

A number of other brokerages have also issued reports on ROAD. Weiss Ratings lowered Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Truist Financial initiated coverage on Construction Partners in a research report on Wednesday, June 3rd. They set a “hold” rating and a $130.00 price target for the company. Zacks Research cut Construction Partners from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 16th. Finally, Raymond James Financial cut their price objective on Construction Partners from $161.00 to $150.00 and set a “strong-buy” rating on the stock in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $133.50.

Construction Partners Stock Performance

Shares of Construction Partners stock opened at $121.53 on Monday. The firm has a market cap of $6.87 billion, a PE ratio of 47.66, a price-to-earnings-growth ratio of 1.13 and a beta of 0.89. The company has a quick ratio of 1.26, a current ratio of 1.57 and a debt-to-equity ratio of 1.68. Construction Partners has a 52 week low of $93.42 and a 52 week high of $151.00. The business’s fifty day simple moving average is $110.06 and its 200-day simple moving average is $116.72.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings data on Friday, August 7th. The company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.07. The firm had revenue of $999.42 million during the quarter, compared to the consensus estimate of $948.77 million. Construction Partners had a return on equity of 16.06% and a net margin of 4.10%.The company’s quarterly revenue was up 28.2% on a year-over-year basis. During the same period last year, the company earned $0.81 EPS. Equities analysts forecast that Construction Partners will post 3.02 earnings per share for the current year.

Institutional Investors Weigh In On Construction Partners

A number of hedge funds have recently bought and sold shares of ROAD. Summit Creek Advisors LLC purchased a new position in shares of Construction Partners in the 2nd quarter valued at about $8,329,000. Bank of New York Mellon Corp acquired a new position in shares of Construction Partners during the second quarter worth about $78,248,000. Wasatch Advisors LP increased its stake in shares of Construction Partners by 20.6% during the second quarter. Wasatch Advisors LP now owns 1,008,474 shares of the company’s stock worth $119,776,000 after buying an additional 172,034 shares during the period. Handelsbanken Fonder AB increased its stake in shares of Construction Partners by 9.5% during the second quarter. Handelsbanken Fonder AB now owns 16,100 shares of the company’s stock worth $1,912,000 after buying an additional 1,400 shares during the period. Finally, Revolve Wealth Partners LLC acquired a new stake in Construction Partners in the second quarter valued at approximately $302,000. 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.