Construction Partners (NASDAQ:ROAD) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of Construction Partners (NASDAQ:ROAD) from a hold rating to a strong-buy rating in a research note released on Tuesday,Zacks.com reports.

ROAD has been the topic of several other reports. B. Riley Financial raised Construction Partners from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $117.00 to $135.00 in a research note on Thursday, April 2nd. Truist Financial began coverage on Construction Partners in a research note on Wednesday, June 3rd. They issued a “hold” rating and a $130.00 price objective for the company. Robert W. Baird dropped their target price on Construction Partners from $169.00 to $145.00 and set an “outperform” rating for the company in a report on Wednesday, July 1st. Weiss Ratings downgraded Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Finally, Raymond James Financial restated a “strong-buy” rating and set a $140.00 price target on shares of Construction Partners in a report on Monday, April 27th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.50.

Construction Partners Price Performance

ROAD stock opened at $101.90 on Tuesday. Construction Partners has a 52 week low of $93.22 and a 52 week high of $151.00. 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 company has a fifty day simple moving average of $117.58 and a two-hundred day simple moving average of $117.99. The firm has a market capitalization of $5.76 billion, a P/E ratio of 44.69, a price-to-earnings-growth ratio of 0.86 and a beta of 0.88.

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

Institutional Trading of Construction Partners

Several institutional investors have recently added to or reduced their stakes in ROAD. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Construction Partners during the 4th quarter worth approximately $42,518,000. Pinnbrook Capital Management LP bought a new position in Construction Partners in the 3rd quarter valued at $6,277,000. Artemis Investment Management LLP grew its position in Construction Partners by 7.8% in the 4th 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 during the last quarter. Comerica Bank increased its stake in Construction Partners by 30.1% in the fourth quarter. Comerica Bank now owns 255,975 shares of the company’s stock worth $27,786,000 after purchasing an additional 59,244 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in Construction Partners by 38.3% in the fourth 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 during the period. 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.