Construction Partners (NASDAQ:ROAD) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Construction Partners (NASDAQ:ROAD) from a strong sell rating to a strong-buy rating in a research report sent to investors on Thursday morning,Zacks.com reports.

A number of other brokerages have also recently issued reports on ROAD. Weiss Ratings reissued a “hold (c+)” rating on shares of Construction Partners in a report on Monday, December 29th. Raymond James Financial reiterated a “strong-buy” rating and issued a $135.00 price target (up from $120.00) on shares of Construction Partners in a research report on Tuesday, October 21st. Robert W. Baird dropped their price objective on Construction Partners from $131.00 to $124.00 and set an “outperform” rating on the stock in a report on Friday, November 21st. B. Riley assumed coverage on Construction Partners in a research report on Thursday, January 15th. They set a “neutral” rating and a $117.00 price target on the stock. Finally, DA Davidson restated a “neutral” rating and issued a $120.00 price objective on shares of Construction Partners in a research report on Friday, November 21st. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.20.

Construction Partners Trading Down 2.6%

Shares of Construction Partners stock opened at $109.88 on Thursday. The stock has a market capitalization of $6.21 billion, a P/E ratio of 60.04, a P/E/G ratio of 1.06 and a beta of 0.87. Construction Partners has a 52-week low of $64.79 and a 52-week high of $138.90. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.34 and a current ratio of 1.61. The stock’s 50-day simple moving average is $110.35 and its 200 day simple moving average is $113.76.

Construction Partners (NASDAQ:ROAD) last issued its earnings results on Thursday, November 20th. The company reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.04). Construction Partners had a return on equity of 14.42% and a net margin of 3.62%.The business had revenue of $899.85 million for the quarter, compared to the consensus estimate of $896.17 million. During the same quarter in the prior year, the business earned $0.56 EPS. Construction Partners’s revenue for the quarter was up 67.2% compared to the same quarter last year. As a group, research analysts anticipate that Construction Partners will post 1.96 EPS for the current year.

Institutional Trading of Construction Partners

Institutional investors and hedge funds have recently modified their holdings of the business. MAI Capital Management grew its holdings in shares of Construction Partners by 21.7% during the third quarter. MAI Capital Management now owns 505 shares of the company’s stock worth $64,000 after purchasing an additional 90 shares in the last quarter. Handelsbanken Fonder AB lifted its position in Construction Partners by 0.8% during the second quarter. Handelsbanken Fonder AB now owns 12,000 shares of the company’s stock valued at $1,275,000 after purchasing an additional 100 shares during the last quarter. Ameritas Investment Partners Inc. grew its stake in Construction Partners by 2.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,794 shares of the company’s stock worth $510,000 after buying an additional 118 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Construction Partners by 10.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,288 shares of the company’s stock worth $164,000 after buying an additional 124 shares during the last quarter. Finally, Byrne Asset Management LLC increased its holdings in shares of Construction Partners by 41.7% in the 3rd quarter. Byrne Asset Management LLC now owns 425 shares of the company’s stock worth $54,000 after buying an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

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.