Robert W. Baird Lowers Construction Partners (NASDAQ:ROAD) Price Target to $145.00

Construction Partners (NASDAQ:ROAD) had its price target cut by Robert W. Baird from $169.00 to $145.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price objective points to a potential upside of 22.08% from the company’s current price.

Several other equities research analysts have also recently weighed in on ROAD. Raymond James Financial reissued a “strong-buy” rating and set a $140.00 price target on shares of Construction Partners in a research report on Monday, April 27th. Zacks Research downgraded shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Truist Financial started coverage on shares of Construction Partners in a report on Wednesday, June 3rd. They set a “hold” rating and a $130.00 target price for the company. Weiss Ratings cut Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Finally, B. Riley Financial upgraded Construction Partners from a “neutral” rating to a “buy” rating and boosted their price target for the company from $117.00 to $135.00 in a report on Thursday, April 2nd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Construction Partners presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.50.

Construction Partners Stock Performance

Shares of NASDAQ ROAD opened at $118.77 on Wednesday. The stock’s 50-day moving average is $119.49 and its 200 day moving average is $118.14. The stock has a market cap of $6.71 billion, a price-to-earnings ratio of 52.09, a P/E/G ratio of 1.00 and a beta of 0.88. Construction Partners has a 1-year low of $93.22 and a 1-year high of $151.00. The company has a current ratio of 1.53, a quick ratio of 1.21 and a debt-to-equity ratio of 1.75.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings results on Friday, May 8th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.23. The firm had revenue of $769.20 million for the quarter, compared to the consensus estimate of $678.46 million. Construction Partners had a net margin of 3.90% and a return on equity of 15.22%. The business’s revenue was up 34.6% compared to the same quarter last year. During the same period last year, the firm posted $0.08 earnings per share. On average, sell-side analysts anticipate that Construction Partners will post 2.95 EPS for the current fiscal year.

Institutional Investors Weigh In On Construction Partners

A number of large investors have recently modified their holdings of the stock. Morse Asset Management Inc raised its stake in Construction Partners by 300.0% in the third quarter. Morse Asset Management Inc now owns 240 shares of the company’s stock worth $30,000 after buying an additional 180 shares in the last quarter. Danske Bank A S purchased a new stake in Construction Partners in the third quarter worth about $38,000. Quarry LP bought a new stake in Construction Partners during the 3rd quarter valued at approximately $42,000. Harbor Investment Advisory LLC bought a new stake in Construction Partners during the 1st quarter valued at approximately $39,000. Finally, Hollencrest Capital Management purchased a new position in shares of Construction Partners during the 1st quarter worth approximately $39,000. Institutional investors own 94.83% of the company’s stock.

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.