Construction Partners (NASDAQ:ROAD) Sets New 52-Week High – What’s Next?

Construction Partners, Inc. (NASDAQ:ROAD) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $141.90 and last traded at $141.0790, with a volume of 265299 shares traded. The stock had previously closed at $134.21.

Analysts Set New Price Targets

A number of research firms recently weighed in on ROAD. Weiss Ratings restated a “hold (c+)” rating on shares of Construction Partners in a research report on Monday, December 29th. DA Davidson increased their price target on Construction Partners from $120.00 to $130.00 and gave the company a “neutral” rating in a report on Friday, February 6th. B. Riley Financial initiated coverage on Construction Partners in a research note on Thursday, January 15th. They set a “neutral” rating and a $117.00 price objective on the stock. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $135.00 target price (up from $120.00) on shares of Construction Partners in a research note on Tuesday, October 21st. Finally, Robert W. Baird set a $142.00 price target on Construction Partners in a report on Friday, February 6th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $127.80.

Construction Partners Stock Performance

The company has a current ratio of 1.59, a quick ratio of 1.34 and a debt-to-equity ratio of 1.76. The stock has a market capitalization of $7.84 billion, a price-to-earnings ratio of 63.02, a price-to-earnings-growth ratio of 1.19 and a beta of 0.87. The firm’s fifty day moving average price is $113.08 and its 200 day moving average price is $114.77.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings results on Thursday, February 5th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.16. The company had revenue of $809.47 million for the quarter, compared to analysts’ expectations of $740.14 million. Construction Partners had a return on equity of 15.26% and a net margin of 3.99%.The firm’s revenue was up 44.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.25 earnings per share. Analysts forecast that Construction Partners, Inc. will post 1.96 EPS for the current fiscal year.

Hedge Funds Weigh In On Construction Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. TD Waterhouse Canada Inc. purchased a new stake in shares of Construction Partners during the third quarter worth $25,000. AlphaQuest LLC increased its holdings in Construction Partners by 292.5% during the 3rd quarter. AlphaQuest LLC now owns 208 shares of the company’s stock worth $26,000 after purchasing an additional 155 shares during the period. Caitong International Asset Management Co. Ltd increased its holdings in 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 worth $30,000 after purchasing an additional 275 shares during the period. Morse Asset Management Inc raised its position in Construction Partners by 300.0% in 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 in the last quarter. Finally, Danske Bank A S acquired a new stake in Construction Partners in the 3rd quarter valued at about $38,000. Hedge funds and other institutional investors 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.