Construction Partners (NASDAQ:ROAD) Rating Increased to Hold at B. Riley

B. Riley upgraded shares of Construction Partners (NASDAQ:ROAD) to a hold rating in a research note published on Thursday, Marketbeat.com reports.

A number of other equities analysts also recently issued reports on the stock. Zacks Research downgraded shares of Construction Partners from a “hold” rating to a “strong sell” rating in a report on Monday, January 12th. DA Davidson reaffirmed a “neutral” rating and issued a $120.00 target price on shares of Construction Partners in a report on Friday, November 21st. Raymond James Financial reissued a “strong-buy” rating and set a $135.00 price target (up previously from $120.00) on shares of Construction Partners in a research note on Tuesday, October 21st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Construction Partners in a research note on Monday, December 29th. Finally, Robert W. Baird reduced their price objective on Construction Partners from $131.00 to $124.00 and set an “outperform” rating for the company in a report on Friday, November 21st. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $122.20.

Construction Partners Stock Up 2.0%

Shares of NASDAQ:ROAD opened at $114.42 on Thursday. The company has a market cap of $6.47 billion, a price-to-earnings ratio of 62.52, a PEG ratio of 1.07 and a beta of 0.87. Construction Partners has a fifty-two week low of $64.79 and a fifty-two week high of $138.90. The firm’s 50-day simple moving average is $109.24 and its 200-day simple moving average is $113.25. The company has a quick ratio of 1.34, a current ratio of 1.61 and a debt-to-equity ratio of 1.73.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings data on Thursday, November 20th. The company reported $1.07 EPS for the quarter, missing analysts’ consensus estimates 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%. Construction Partners’s revenue for the quarter was up 67.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.56 EPS. As a group, equities research analysts predict that Construction Partners will post 1.96 earnings per share for the current year.

Hedge Funds Weigh In On Construction Partners

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