Robert W. Baird Issues Pessimistic Forecast for Construction Partners (NASDAQ:ROAD) Stock Price

Construction Partners (NASDAQ:ROAD) had its price target lowered by research analysts at Robert W. Baird from $145.00 to $141.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price target would indicate a potential upside of 17.76% from the company’s current price.

A number of other equities research analysts have also issued reports on ROAD. Truist Financial initiated coverage on Construction Partners in a research report on Wednesday, June 3rd. They issued a “hold” rating and a $130.00 price target for the company. Raymond James Financial lowered their price objective on Construction Partners from $161.00 to $150.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, July 15th. Weiss Ratings downgraded Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Finally, Zacks Research lowered Construction Partners from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $133.50.

Construction Partners Stock Performance

Shares of NASDAQ:ROAD opened at $119.74 on Monday. The business has a 50-day moving average price of $109.58 and a 200-day moving average price of $116.54. The stock has a market cap of $6.77 billion, a price-to-earnings ratio of 46.96, a PEG ratio of 1.01 and a beta of 0.90. Construction Partners has a 52-week low of $93.42 and a 52-week high of $151.00. The company has a quick ratio of 1.26, a current ratio of 1.57 and a debt-to-equity ratio of 1.68.

Construction Partners (NASDAQ:ROAD) last posted its earnings results on Friday, August 7th. The company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.07. Construction Partners had a net margin of 4.10% and a return on equity of 16.06%. The company had revenue of $999.42 million during the quarter, compared to the consensus estimate of $948.77 million. During the same period in the previous year, the firm posted $0.81 earnings per share. The firm’s quarterly revenue was up 28.2% on a year-over-year basis. Equities analysts predict that Construction Partners will post 2.91 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Geneva Capital Management LLC raised its position in Construction Partners by 0.3% in the fourth quarter. Geneva Capital Management LLC now owns 1,821,134 shares of the company’s stock valued at $197,684,000 after purchasing an additional 6,163 shares during the period. Invesco Ltd. increased its position in shares of Construction Partners by 23.7% during the 4th quarter. Invesco Ltd. now owns 1,481,914 shares of the company’s stock worth $160,862,000 after purchasing an additional 284,082 shares during the last quarter. Geode Capital Management LLC raised its holdings in Construction Partners by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 1,163,923 shares of the company’s stock valued at $126,364,000 after buying an additional 4,118 shares during the period. State Street Corp lifted its position in Construction Partners by 4.7% in the second quarter. State Street Corp now owns 1,112,231 shares of the company’s stock valued at $118,208,000 after buying an additional 49,898 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in Construction Partners by 29.6% during the first quarter. First Trust Advisors LP now owns 1,030,378 shares of the company’s stock worth $114,496,000 after buying an additional 235,616 shares during the period. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

About Construction Partners

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.