Construction Partners (NASDAQ:ROAD) Shares Up 8.4% – Should You Buy?

Construction Partners, Inc. (NASDAQ:ROAD)’s stock price traded up 8.4% during trading on Thursday. The company traded as high as $89.99 and last traded at $91.44. 97,807 shares traded hands during trading, a decline of 85% from the average daily volume of 663,103 shares. The stock had previously closed at $84.36.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Raymond James Financial lowered their price objective on Construction Partners from $150.00 to $145.00 and set a “strong-buy” rating on the stock in a research note on Friday, October 16th. Zacks Research downgraded Construction Partners from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 16th. Weiss Ratings cut Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, September 17th. Finally, Robert W. Baird decreased their price target on Construction Partners from $145.00 to $141.00 and set an “outperform” rating for the company in a report on Monday, August 10th. One investment 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $132.67.

Construction Partners Stock Down 2.1%

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 firm’s 50-day moving average price is $94.01 and its 200 day moving average price is $110.93. The firm has a market capitalization of $5.10 billion, a price-to-earnings ratio of 35.22, a price-to-earnings-growth ratio of 0.69 and a beta of 0.93.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings data on Friday, August 7th. The company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.07. The company had revenue of $999.42 million during the quarter, compared to the consensus estimate of $948.77 million. Construction Partners had a net margin of 4.10% and a return on equity of 16.06%. The company’s quarterly revenue was up 28.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.81 EPS. Sell-side analysts expect that Construction Partners, Inc. will post 3.04 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp acquired a new stake in shares of Construction Partners during the second quarter worth approximately $78,248,000. Fifth Third Bancorp lifted its holdings in Construction Partners by 30,525.8% during the 1st quarter. Fifth Third Bancorp now owns 239,800 shares of the company’s stock worth $26,647,000 after buying an additional 239,017 shares in the last quarter. First Trust Advisors LP boosted its holdings in Construction Partners by 29.6% in the first quarter. First Trust Advisors LP now owns 1,030,378 shares of the company’s stock valued at $114,496,000 after acquiring an additional 235,616 shares during the last quarter. Wasatch Advisors LP raised its position in shares of Construction Partners by 20.6% during the 2nd quarter. Wasatch Advisors LP now owns 1,008,474 shares of the company’s stock valued at $119,776,000 after acquiring an additional 172,034 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Construction Partners by 19.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 967,350 shares of the company’s stock valued at $109,214,000 after buying an additional 156,469 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 civil infrastructure company that builds and maintains transportation and other public infrastructure in the United States. The company primarily serves public-sector customers, including state and local governments, as well as private-sector customers involved in residential, commercial and industrial development.

Its services include asphalt production and paving, roadway construction, milling, maintenance and repair, site development, utility installation and related infrastructure work.