Construction Partners, Inc. (NASDAQ:ROAD) Receives Average Recommendation of “Moderate Buy” from Brokerages

Construction Partners, Inc. (NASDAQ:ROAD) has received an average rating of “Moderate Buy” from the seven research firms that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $127.80.

ROAD has been the topic of several recent analyst reports. Bank of America cut their target price on Construction Partners from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, November 21st. Robert W. Baird set a $142.00 price objective on Construction Partners in a research report on Friday, February 6th. Zacks Research upgraded Construction Partners from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 29th. Weiss Ratings restated a “hold (c+)” rating on shares of Construction Partners in a research note on Monday, December 29th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $135.00 price target (up previously from $120.00) on shares of Construction Partners in a report on Tuesday, October 21st.

Institutional Investors Weigh In On Construction Partners

A number of hedge funds have recently added to or reduced their stakes in the stock. Capital World Investors boosted its stake in shares of Construction Partners by 97.5% in the 4th quarter. Capital World Investors now owns 856,696 shares of the company’s stock worth $92,994,000 after buying an additional 423,033 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in Construction Partners in the fourth quarter valued at about $42,518,000. First Trust Advisors LP boosted its position in Construction Partners by 33.2% in the third quarter. First Trust Advisors LP now owns 1,059,566 shares of the company’s stock worth $134,565,000 after purchasing an additional 264,069 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Construction Partners by 176.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 361,837 shares of the company’s stock worth $39,277,000 after purchasing an additional 231,160 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Construction Partners by 38.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 810,881 shares of the company’s stock valued at $90,948,000 after purchasing an additional 224,575 shares during the period. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Construction Partners Stock Performance

Shares of Construction Partners stock opened at $133.93 on Tuesday. Construction Partners has a 1 year low of $64.79 and a 1 year high of $141.90. The firm’s 50-day moving average is $114.29 and its 200 day moving average is $115.22. The stock has a market cap of $7.57 billion, a price-to-earnings ratio of 60.88, a PEG ratio of 1.25 and a beta of 0.87. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.59 and a quick ratio of 1.34.

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

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.