Construction Partners, Inc. (NASDAQ:ROAD) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Construction Partners, Inc. (NASDAQ:ROAD) has been assigned an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $136.50.

A number of equities research analysts have commented on the company. Zacks Research downgraded Construction Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Truist Financial started coverage on Construction Partners in a research report on Wednesday, June 3rd. They set a “hold” rating and a $130.00 price objective for the company. B. Riley Financial upgraded shares of Construction Partners from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $117.00 to $135.00 in a report on Thursday, April 2nd. Robert W. Baird upped their target price on shares of Construction Partners from $129.00 to $169.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $140.00 target price on shares of Construction Partners in a research note on Monday, April 27th.

Construction Partners Price Performance

Shares of NASDAQ ROAD opened at $113.87 on Monday. The company has a market capitalization of $6.44 billion, a P/E ratio of 49.94, a P/E/G ratio of 0.95 and a beta of 0.88. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.53 and a quick ratio of 1.21. The company has a 50 day simple moving average of $117.25 and a 200-day simple moving average of $116.75. Construction Partners has a 1 year low of $93.22 and a 1 year high of $151.00.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings data on Friday, May 8th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.23. The firm had revenue of $769.20 million for the quarter, compared to analysts’ expectations of $678.46 million. Construction Partners had a return on equity of 15.22% and a net margin of 3.90%.The firm’s quarterly revenue was up 34.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.08 earnings per share. On average, equities research analysts predict that Construction Partners will post 2.95 earnings per share for the current year.

Hedge Funds Weigh In On Construction Partners

A number of hedge funds have recently made changes to their positions in ROAD. Capital World Investors increased its holdings in Construction Partners by 97.5% in the 4th quarter. Capital World Investors now owns 856,696 shares of the company’s stock valued at $92,994,000 after purchasing an additional 423,033 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in Construction Partners during the fourth quarter worth $42,518,000. Invesco Ltd. lifted its stake in Construction Partners by 23.7% during the fourth quarter. Invesco Ltd. now owns 1,481,914 shares of the company’s stock worth $160,862,000 after purchasing an additional 284,082 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Construction Partners by 33.2% during the third quarter. First Trust Advisors LP now owns 1,059,566 shares of the company’s stock worth $134,565,000 after buying an additional 264,069 shares during the period. Finally, Fifth Third Bancorp grew its stake in shares of Construction Partners by 30,525.8% in the first quarter. Fifth Third Bancorp now owns 239,800 shares of the company’s stock valued at $26,647,000 after buying an additional 239,017 shares in the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

About Construction Partners

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.