Construction Partners (NASDAQ:ROAD) Upgraded by B. Riley to Hold Rating

Construction Partners (NASDAQ:ROAD) was upgraded by stock analysts at B. Riley to a “hold” rating in a research note issued on Thursday, Marketbeat reports.

A number of other equities research analysts have also recently commented on the company. DA Davidson reissued a “neutral” rating and issued a $120.00 target price on shares of Construction Partners in a research note on Friday, November 21st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Construction Partners in a research note on Monday, December 29th. Zacks Research downgraded shares of Construction Partners from a “hold” rating to a “strong sell” rating in a research report on Monday, January 12th. Robert W. Baird decreased their target price on shares of Construction Partners from $131.00 to $124.00 and set an “outperform” rating for the company in a report on Friday, November 21st. Finally, Bank of America dropped their target price on shares of Construction Partners from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, November 21st. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Construction Partners currently has an average rating of “Moderate Buy” and an average price target of $122.20.

Construction Partners Price Performance

Shares of ROAD opened at $114.42 on Thursday. Construction Partners has a fifty-two week low of $64.79 and a fifty-two week high of $138.90. The firm’s 50-day simple moving average is $109.24 and its two-hundred day simple moving average is $113.25. The stock has a market cap of $6.47 billion, a PE ratio of 62.52, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.34 and a current ratio of 1.61.

Construction Partners (NASDAQ:ROAD) last released its earnings results on Thursday, November 20th. The company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.04). The business had revenue of $899.85 million for the quarter, compared to analysts’ expectations of $896.17 million. Construction Partners had a net margin of 3.62% and a return on equity of 14.42%. Construction Partners’s revenue for the quarter was up 67.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.56 earnings per share. Analysts anticipate that Construction Partners will post 1.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Construction Partners

A number of large investors have recently added to or reduced their stakes in the stock. TD Waterhouse Canada Inc. bought a new position in shares of Construction Partners during the 3rd quarter valued at $25,000. AlphaQuest LLC boosted its position in Construction Partners by 292.5% in the third quarter. AlphaQuest LLC now owns 208 shares of the company’s stock worth $26,000 after purchasing an additional 155 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its stake in shares of Construction Partners by 2,750.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 285 shares of the company’s stock valued at $30,000 after purchasing an additional 275 shares during the period. Morse Asset Management Inc grew its stake in shares of Construction Partners by 300.0% during the 3rd quarter. Morse Asset Management Inc now owns 240 shares of the company’s stock valued at $30,000 after purchasing an additional 180 shares during the period. Finally, Danske Bank A S bought a new position in shares of Construction Partners in the 3rd quarter worth approximately $38,000. 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.