Brokerages Set Construction Partners, Inc. (NASDAQ:ROAD) PT at $123.50

Shares of Construction Partners, Inc. (NASDAQ:ROAD) have been given an average recommendation of “Moderate Buy” by the eight analysts that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, two have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $122.20.

Several research firms have recently issued reports on ROAD. Weiss Ratings reissued a “hold (c+)” rating on shares of Construction Partners in a research note on Monday, December 29th. Zacks Research downgraded Construction Partners from a “hold” rating to a “strong sell” rating in a research report on Monday, January 12th. Bank of America dropped their price objective on Construction Partners from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, November 21st. Raymond James Financial reaffirmed a “strong-buy” rating and set a $135.00 target price (up from $120.00) on shares of Construction Partners in a research note on Tuesday, October 21st. Finally, DA Davidson reiterated a “neutral” rating and set a $120.00 target price on shares of Construction Partners in a research report on Friday, November 21st.

Institutional Trading of Construction Partners

A number of institutional investors and hedge funds have recently modified their holdings of the stock. TD Waterhouse Canada Inc. purchased a new position in Construction Partners in the 3rd quarter valued at about $25,000. AlphaQuest LLC lifted its position in shares of Construction Partners by 292.5% in the third quarter. AlphaQuest LLC now owns 208 shares of the company’s stock valued at $26,000 after acquiring an additional 155 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of Construction Partners by 2,750.0% in the second quarter. Caitong International Asset Management Co. Ltd now owns 285 shares of the company’s stock worth $30,000 after acquiring an additional 275 shares during the last quarter. Morse Asset Management Inc increased its position in shares of Construction Partners by 300.0% during the third quarter. Morse Asset Management Inc now owns 240 shares of the company’s stock worth $30,000 after purchasing an additional 180 shares in the last quarter. Finally, Danske Bank A S purchased a new stake in shares of Construction Partners during the third quarter worth approximately $38,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Construction Partners Price Performance

Shares of NASDAQ ROAD opened at $114.42 on Friday. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.61 and a quick ratio of 1.34. The stock has a market capitalization of $6.47 billion, a price-to-earnings ratio of 62.52, a PEG ratio of 1.09 and a beta of 0.87. The firm’s 50 day simple moving average is $109.24 and its 200-day simple moving average is $113.36. Construction Partners has a 12 month low of $64.79 and a 12 month high of $138.90.

Construction Partners (NASDAQ:ROAD) last posted 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 firm had revenue of $899.85 million during the quarter, compared to analyst estimates of $896.17 million. Construction Partners had a net margin of 3.62% and a return on equity of 14.42%. The business’s revenue for the quarter was up 67.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.56 earnings per share. Analysts expect that Construction Partners will post 1.96 EPS for the current 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.