Construction Partners (NASDAQ:ROAD) Upgraded to “Buy” at B. Riley Financial

Construction Partners (NASDAQ:ROAD) was upgraded by stock analysts at B. Riley Financial from a “neutral” rating to a “buy” rating in a note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage currently has a $135.00 price objective on the stock, up from their prior price objective of $117.00. B. Riley Financial’s price objective suggests a potential upside of 19.57% from the company’s previous close.

Several other equities analysts also recently weighed in on ROAD. DA Davidson lifted their target price on Construction Partners from $120.00 to $130.00 and gave the company a “neutral” rating in a research report on Friday, February 6th. Weiss Ratings reissued a “hold (c+)” rating on shares of Construction Partners in a research report on Monday, December 29th. Robert W. Baird set a $142.00 price objective on shares of Construction Partners in a research note on Friday, February 6th. Finally, Zacks Research upgraded shares of Construction Partners from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 29th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $131.40.

Construction Partners Stock Up 1.6%

NASDAQ:ROAD opened at $112.90 on Thursday. Construction Partners has a 52 week low of $64.79 and a 52 week high of $141.90. The stock’s fifty day moving average is $121.73 and its two-hundred day moving average is $117.18. The stock has a market capitalization of $6.38 billion, a price-to-earnings ratio of 51.32, a price-to-earnings-growth ratio of 0.98 and a beta of 0.92. The company has a quick ratio of 1.26, a current ratio of 1.59 and a debt-to-equity ratio of 1.76.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings data on Thursday, February 5th. The company reported $0.47 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $809.47 million for the quarter, compared to the consensus estimate of $740.14 million. During the same quarter in the previous year, the business earned $0.25 EPS. The company’s quarterly revenue was up 44.1% compared to the same quarter last year. Research analysts anticipate that Construction Partners will post 1.96 EPS for the current year.

Institutional Investors Weigh In On Construction Partners

Several large investors have recently bought and sold shares of the stock. AQR Capital Management LLC boosted its stake in shares of Construction Partners by 14.4% in the 1st quarter. AQR Capital Management LLC now owns 10,333 shares of the company’s stock valued at $743,000 after buying an additional 1,302 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Construction Partners by 11.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 96,191 shares of the company’s stock worth $6,913,000 after buying an additional 9,656 shares during the period. Intech Investment Management LLC raised its holdings in Construction Partners by 11.4% in the first quarter. Intech Investment Management LLC now owns 24,292 shares of the company’s stock valued at $1,746,000 after acquiring an additional 2,482 shares in the last quarter. Strs Ohio purchased a new position in Construction Partners in the first quarter worth approximately $165,000. Finally, JPMorgan Chase & Co. lifted its stake in Construction Partners by 24.7% in the second quarter. JPMorgan Chase & Co. now owns 140,742 shares of the company’s stock worth $14,958,000 after acquiring an additional 27,901 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.