Construction Partners (NASDAQ:ROAD) Stock Price Up 7.1% – What’s Next?

Shares of Construction Partners, Inc. (NASDAQ:ROAD) shot up 7.1% during mid-day trading on Friday . The company traded as high as $112.48 and last traded at $113.2310. 147,381 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 549,324 shares. The stock had previously closed at $105.70.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ROAD. Raymond James Financial reiterated a “strong-buy” rating and issued a $140.00 target price on shares of Construction Partners in a research report on Monday, April 27th. Robert W. Baird increased their price objective on Construction Partners from $129.00 to $169.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. B. Riley Financial upgraded Construction Partners from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $117.00 to $135.00 in a report on Thursday, April 2nd. Truist Financial began coverage on Construction Partners in a report on Wednesday, June 3rd. They issued a “hold” rating and a $130.00 price objective on the stock. Finally, Weiss Ratings downgraded Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $136.50.

Construction Partners Stock Performance

The stock has a market cap of $6.43 billion, a price-to-earnings ratio of 49.91, a price-to-earnings-growth ratio of 0.87 and a beta of 0.88. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.21 and a current ratio of 1.53. The stock’s 50-day simple moving average is $117.23 and its two-hundred day simple moving average is $116.67.

Construction Partners (NASDAQ:ROAD) last released its earnings results on Friday, May 8th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.23. Construction Partners had a net margin of 3.90% and a return on equity of 15.22%. The firm had revenue of $769.20 million during the quarter, compared to analyst estimates of $678.46 million. During the same quarter in the previous year, the business earned $0.08 EPS. The business’s revenue was up 34.6% on a year-over-year basis. Analysts forecast that Construction Partners, Inc. will post 2.95 earnings per share for the current year.

Hedge Funds Weigh In On Construction Partners

A number of institutional investors and hedge funds have recently bought and sold shares of ROAD. Capital World Investors increased its position in Construction Partners by 97.5% during the fourth quarter. Capital World Investors now owns 856,696 shares of the company’s stock worth $92,994,000 after acquiring an additional 423,033 shares during the period. Vaughan Nelson Investment Management L.P. bought a new position in Construction Partners during the fourth quarter worth $42,518,000. Invesco Ltd. increased its position in Construction Partners by 23.7% during the fourth quarter. Invesco Ltd. now owns 1,481,914 shares of the company’s stock worth $160,862,000 after acquiring an additional 284,082 shares during the period. First Trust Advisors LP increased its position in Construction Partners by 33.2% during the third quarter. First Trust Advisors LP now owns 1,059,566 shares of the company’s stock worth $134,565,000 after acquiring an additional 264,069 shares during the period. Finally, Fifth Third Bancorp increased its position in Construction Partners by 30,525.8% during the first quarter. Fifth Third Bancorp now owns 239,800 shares of the company’s stock worth $26,647,000 after acquiring an additional 239,017 shares during the period. 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.