Construction Partners, Inc. (NASDAQ:ROAD) Receives $127.80 Average Target Price from Analysts

Shares of Construction Partners, Inc. (NASDAQ:ROAD) have been given an average recommendation of “Moderate Buy” by the seven analysts that are covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $127.80.

ROAD has been the topic of several research analyst reports. Zacks Research raised shares of Construction Partners from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 29th. Raymond James Financial restated a “strong-buy” rating and issued a $135.00 target price (up previously from $120.00) on shares of Construction Partners in a research note on Tuesday, October 21st. Robert W. Baird set a $142.00 price target on shares of Construction Partners in a research report on Friday, February 6th. DA Davidson boosted their price objective on Construction Partners from $120.00 to $130.00 and gave the company a “neutral” rating in a research report on Friday, February 6th. Finally, B. Riley Financial started coverage on shares of Construction Partners in a research report on Thursday, January 15th. They set a “neutral” rating and a $117.00 price target for the company.

Construction Partners Stock Up 0.4%

Shares of ROAD stock opened at $134.77 on Tuesday. The stock’s fifty day moving average price is $113.67 and its 200 day moving average price is $114.91. Construction Partners has a 1-year low of $64.79 and a 1-year high of $141.90. The company has a market cap of $7.62 billion, a price-to-earnings ratio of 61.26, a price-to-earnings-growth ratio of 1.25 and a beta of 0.87. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.59 and a quick ratio of 1.34.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings results on Thursday, February 5th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.16. Construction Partners had a return on equity of 15.26% and a net margin of 3.99%.The business had revenue of $809.47 million during the quarter, compared to the consensus estimate of $740.14 million. During the same quarter last year, the company earned $0.25 earnings per share. The company’s quarterly revenue was up 44.1% on a year-over-year basis. On average, research analysts expect that Construction Partners will post 1.96 earnings per share for the current fiscal year.

Institutional Trading of Construction Partners

A number of hedge funds and other institutional investors have recently modified their holdings of ROAD. Geneva Capital Management LLC increased its stake in Construction Partners by 0.3% during the fourth quarter. Geneva Capital Management LLC now owns 1,821,134 shares of the company’s stock worth $197,684,000 after purchasing an additional 6,163 shares during the period. Invesco Ltd. grew its position in shares of Construction Partners by 4.2% in the 2nd quarter. Invesco Ltd. now owns 1,308,761 shares of the company’s stock valued at $139,095,000 after buying an additional 52,670 shares during the last quarter. Geode Capital Management LLC raised its stake in Construction Partners by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 1,163,923 shares of the company’s stock worth $126,364,000 after acquiring an additional 4,118 shares in the last quarter. 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 acquiring an additional 49,898 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in Construction Partners by 33.2% in the third quarter. First Trust Advisors LP now owns 1,059,566 shares of the company’s stock valued at $134,565,000 after acquiring an additional 264,069 shares during the last quarter. 94.83% of the stock is owned by institutional investors and hedge funds.

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.