Robert W. Baird Issues Pessimistic Forecast for Construction Partners (NASDAQ:ROAD) Stock Price

Construction Partners (NASDAQ:ROAD) had its price objective lowered by equities researchers at Robert W. Baird from $145.00 to $141.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price target indicates a potential upside of 17.76% from the stock’s current price.

ROAD has been the topic of a number of other reports. Raymond James Financial reduced their target price on shares of Construction Partners from $161.00 to $150.00 and set a “strong-buy” rating on the stock in a report on Wednesday, July 15th. Truist Financial assumed coverage on shares of Construction Partners in a research note on Wednesday, June 3rd. They issued a “hold” rating and a $130.00 price target for the company. Zacks Research lowered Construction Partners from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 16th. Finally, Weiss Ratings cut Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Construction Partners has a consensus rating of “Moderate Buy” and a consensus price target of $133.50.

Construction Partners Stock Performance

NASDAQ ROAD opened at $119.74 on Monday. The company has a market cap of $6.77 billion, a P/E ratio of 46.96, a P/E/G ratio of 1.01 and a beta of 0.90. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.57 and a quick ratio of 1.26. The stock has a 50-day moving average of $109.58 and a two-hundred day moving average of $116.54. Construction Partners has a 1-year low of $93.42 and a 1-year high of $151.00.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings results on Friday, August 7th. The company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.07. Construction Partners had a net margin of 4.10% and a return on equity of 16.06%. The company had revenue of $999.42 million for the quarter, compared to analyst estimates of $948.77 million. During the same period in the prior year, the firm earned $0.81 earnings per share. The business’s revenue for the quarter was up 28.2% compared to the same quarter last year. As a group, analysts anticipate that Construction Partners will post 2.91 EPS for the current year.

Institutional Trading of Construction Partners

Several hedge funds have recently added to or reduced their stakes in ROAD. Bank of New York Mellon Corp acquired a new position in shares of Construction Partners in the second quarter valued at approximately $78,248,000. Capital World Investors grew its position 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 buying an additional 423,033 shares during the last quarter. Invesco Ltd. grew its position in Construction Partners by 23.7% in the 4th quarter. Invesco Ltd. now owns 1,481,914 shares of the company’s stock valued at $160,862,000 after buying an additional 284,082 shares during the last quarter. Fifth Third Bancorp increased its stake in Construction Partners by 30,525.8% in the 1st 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 during the period. Finally, First Trust Advisors LP raised its position in Construction Partners by 29.6% during the 1st quarter. First Trust Advisors LP now owns 1,030,378 shares of the company’s stock worth $114,496,000 after buying an additional 235,616 shares during the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.

Construction Partners Company Profile

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.