Construction Partners (NASDAQ:ROAD) Given New $124.00 Price Target at Robert W. Baird

Construction Partners (NASDAQ:ROAD) had its price objective decreased by Robert W. Baird from $131.00 to $124.00 in a research report sent to investors on Friday morning, MarketBeat Ratings reports. Robert W. Baird currently has an outperform rating on the stock.

Other analysts also recently issued research reports about the company. Bank of America cut their target price on Construction Partners from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday. Raymond James Financial reiterated a “strong-buy” rating and issued a $135.00 price objective (up from $120.00) on shares of Construction Partners in a research note on Tuesday, October 21st. Zacks Research cut shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. DA Davidson upped their price objective on Construction Partners from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, October 23rd. Finally, Baird R W upgraded Construction Partners from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $123.50.

Construction Partners Stock Up 0.7%

Shares of ROAD traded up $0.73 during midday trading on Friday, reaching $101.16. The stock had a trading volume of 1,048,407 shares, compared to its average volume of 413,967. Construction Partners has a 1-year low of $64.79 and a 1-year high of $138.90. The company has a market cap of $5.67 billion, a price-to-earnings ratio of 55.28, a PEG ratio of 0.89 and a beta of 1.02. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.47 and a quick ratio of 1.20. The company’s fifty day simple moving average is $118.76 and its two-hundred day simple moving average is $111.32.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings data on Thursday, November 20th. The company reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.04). The business had revenue of $899.85 million for the quarter, compared to analyst estimates of $896.17 million. Construction Partners had a return on equity of 14.80% and a net margin of 3.62%.The company’s revenue was up 67.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.56 EPS. Equities research analysts expect that Construction Partners will post 1.96 earnings per share for the current year.

Hedge Funds Weigh In On Construction Partners

Hedge funds and other institutional investors have recently modified their holdings of the company. First Trust Advisors LP raised its stake in Construction Partners by 33.2% during the third quarter. First Trust Advisors LP now owns 1,059,566 shares of the company’s stock valued at $134,565,000 after buying an additional 264,069 shares during the last quarter. Bank of America Corp DE lifted its position in Construction Partners by 41.9% during the third quarter. Bank of America Corp DE now owns 757,172 shares of the company’s stock valued at $96,161,000 after purchasing an additional 223,549 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Construction Partners by 81.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 496,783 shares of the company’s stock worth $52,798,000 after purchasing an additional 223,457 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Construction Partners by 5.0% in the first quarter. Vanguard Group Inc. now owns 3,666,331 shares of the company’s stock valued at $263,499,000 after purchasing an additional 173,963 shares during the period. Finally, American Century Companies Inc. raised its stake in Construction Partners by 19.9% in the second quarter. American Century Companies Inc. now owns 984,879 shares of the company’s stock worth $104,673,000 after buying an additional 163,334 shares in the last quarter. 94.83% of the stock is owned by institutional investors.

About Construction Partners

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.