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

Shares of Construction Partners, Inc. (NASDAQ:ROAD) have received a consensus rating of “Moderate Buy” from the six analysts that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $125.6667.

Several research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Construction Partners in a research report on Wednesday, October 8th. DA Davidson raised 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. Raymond James Financial reaffirmed 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 downgraded shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Finally, Robert W. Baird set a $122.00 price target on shares of Construction Partners and gave the company an “outperform” rating in a report on Friday, August 8th.

Construction Partners Trading Down 1.3%

Shares of ROAD stock opened at $111.37 on Friday. The firm’s 50-day simple moving average is $121.79 and its 200-day simple moving average is $109.88. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.47 and a quick ratio of 1.20. Construction Partners has a 1-year low of $64.79 and a 1-year high of $138.90. The firm has a market cap of $6.25 billion, a P/E ratio of 81.29, a PEG ratio of 0.99 and a beta of 1.02.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). The company had revenue of $779.28 million for the quarter, compared to analyst estimates of $810.47 million. Construction Partners had a return on equity of 12.24% and a net margin of 3.04%.The business’s revenue for the quarter was up 50.5% on a year-over-year basis. During the same period last year, the company posted $0.59 EPS. As a group, equities analysts forecast that Construction Partners will post 1.96 EPS for the current year.

Institutional Trading of Construction Partners

A number of institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its position in Construction Partners by 81.8% in the second quarter. Bank of New York Mellon Corp now owns 496,783 shares of the company’s stock valued at $52,798,000 after purchasing an additional 223,457 shares during the period. Vanguard Group Inc. grew its stake 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 buying an additional 173,963 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Construction Partners by 19.9% during the 2nd quarter. American Century Companies Inc. now owns 984,879 shares of the company’s stock valued at $104,673,000 after buying an additional 163,334 shares during the period. Zimmer Partners LP purchased a new stake in shares of Construction Partners during the 1st quarter valued at about $10,062,000. Finally, Franklin Resources Inc. lifted its position in Construction Partners by 42.4% during the 2nd quarter. Franklin Resources Inc. now owns 468,926 shares of the company’s stock worth $49,837,000 after acquiring an additional 139,707 shares in the last quarter. 94.83% of the stock is owned by hedge funds and other 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.