Construction Partners (NASDAQ:ROAD) had its price objective hoisted by Robert W. Baird from $16.00 to $20.00 in a research report sent to investors on Tuesday morning, BenzingaRatingsTable reports. The brokerage currently has an outperform rating on the stock.

A number of other brokerages have also issued reports on ROAD. Imperial Capital reissued an outperform rating and issued a $17.25 price objective (up previously from $15.50) on shares of Construction Partners in a report on Thursday, August 15th. ValuEngine raised shares of Construction Partners from a sell rating to a hold rating in a report on Tuesday. Bank of America started coverage on shares of Construction Partners in a report on Friday, December 6th. They issued a buy rating for the company. Zacks Investment Research lowered shares of Construction Partners from a strong-buy rating to a hold rating in a report on Tuesday, November 5th. Finally, Raymond James upped their price objective on shares of Construction Partners from $15.00 to $16.50 and gave the company a strong-buy rating in a report on Monday, August 12th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Construction Partners currently has an average rating of Buy and a consensus target price of $18.40.

Construction Partners stock opened at $17.18 on Tuesday. Construction Partners has a 52-week low of $7.70 and a 52-week high of $20.79. The firm has a market capitalization of $885.97 million, a price-to-earnings ratio of 20.61, a PEG ratio of 7.71 and a beta of 1.95. The company has a fifty day simple moving average of $18.35 and a 200-day simple moving average of $15.72. The company has a quick ratio of 1.69, a current ratio of 1.97 and a debt-to-equity ratio of 0.11.

Construction Partners (NASDAQ:ROAD) last released its earnings results on Tuesday, December 10th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.02). Construction Partners had a return on equity of 13.77% and a net margin of 5.51%. The business had revenue of $237.30 million for the quarter, compared to analysts’ expectations of $250.47 million. During the same period in the previous year, the company earned $0.29 EPS. Construction Partners’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, research analysts anticipate that Construction Partners will post 0.91 EPS for the current fiscal year.

In other Construction Partners news, Director Cpi Expansion Fund Gp L. Suntx sold 5,000,000 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $13.47, for a total transaction of $67,350,000.00. Also, Director Cpi Expansion Fund Gp L. Suntx sold 750,000 shares of the stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $17.24, for a total transaction of $12,930,000.00. Corporate insiders own 74.79% of the company’s stock.

A number of hedge funds have recently made changes to their positions in ROAD. Strs Ohio purchased a new position in Construction Partners during the second quarter worth about $48,000. Anchor Capital Advisors LLC boosted its stake in Construction Partners by 2.1% during the second quarter. Anchor Capital Advisors LLC now owns 96,161 shares of the company’s stock worth $1,444,000 after buying an additional 1,995 shares during the period. Swiss National Bank purchased a new position in Construction Partners during the second quarter worth about $333,000. Conestoga Capital Advisors LLC boosted its stake in Construction Partners by 3.9% during the second quarter. Conestoga Capital Advisors LLC now owns 27,360 shares of the company’s stock worth $411,000 after buying an additional 1,030 shares during the period. Finally, Wells Fargo & Company MN lifted its position in shares of Construction Partners by 545.8% during the second quarter. Wells Fargo & Company MN now owns 91,765 shares of the company’s stock worth $1,378,000 after purchasing an additional 77,555 shares in the last quarter. 35.57% of the stock is owned by institutional investors.

About Construction Partners

Construction Partners, Inc, an infrastructure and road construction company, provides construction products and services to public and private sectors. It offers construction of highways, roads, bridges, airports, and commercial and residential sites. The company provides a range of sitework construction services, including site development, paving, and utility and drainage systems construction, as well as supplies hot mix asphalt required for the projects.

Further Reading: Hold Rating

Analyst Recommendations for Construction Partners (NASDAQ:ROAD)

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