Construction Partners, Inc. (NASDAQ:ROAD) Given Consensus Rating of “Moderate Buy” by Analysts

Construction Partners, Inc. (NASDAQ:ROAD) has been given an average recommendation of “Moderate Buy” by the eight ratings firms that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $133.50.

ROAD has been the subject of several recent research reports. Zacks Research cut shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 16th. Weiss Ratings upgraded shares of Construction Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Raymond James Financial reduced their price objective on shares of Construction Partners from $161.00 to $150.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, July 15th. Truist Financial began coverage on Construction Partners in a research report on Wednesday, June 3rd. They set a “hold” rating and a $130.00 target price for the company. Finally, Robert W. Baird cut their target price on Construction Partners from $145.00 to $141.00 and set an “outperform” rating on the stock in a report on Monday, August 10th.

Hedge Funds Weigh In On Construction Partners

A number of hedge funds have recently made changes to their positions in the stock. NFSG Corp boosted its holdings in Construction Partners by 8.7% in the first quarter. NFSG Corp now owns 1,251 shares of the company’s stock valued at $139,000 after acquiring an additional 100 shares during the last quarter. ANB Bank raised its holdings in Construction Partners by 3.4% during the 1st quarter. ANB Bank now owns 4,258 shares of the company’s stock worth $473,000 after purchasing an additional 140 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Construction Partners by 0.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 23,151 shares of the company’s stock worth $2,573,000 after purchasing an additional 149 shares during the period. &PARTNERS lifted its position in shares of Construction Partners by 2.5% in the 4th quarter. &PARTNERS now owns 6,899 shares of the company’s stock worth $749,000 after purchasing an additional 167 shares during the period. Finally, Morse Asset Management Inc boosted its stake in shares of Construction Partners by 300.0% in the 3rd quarter. Morse Asset Management Inc now owns 240 shares of the company’s stock valued at $30,000 after purchasing an additional 180 shares during the last quarter. 94.83% of the stock is currently owned by institutional investors.

Construction Partners Stock Performance

NASDAQ:ROAD opened at $101.13 on Friday. The stock has a market cap of $5.74 billion, a P/E ratio of 39.66, a price-to-earnings-growth ratio of 0.94 and a beta of 0.90. The company has a current ratio of 1.57, a quick ratio of 1.26 and a debt-to-equity ratio of 1.68. The stock’s 50-day moving average is $108.74 and its 200-day moving average is $115.92. Construction Partners has a 1-year low of $93.42 and a 1-year high of $151.00.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings data on Friday, August 7th. The company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.07. Construction Partners had a net margin of 4.10% and a return on equity of 16.06%. The business had revenue of $999.42 million during the quarter, compared to analyst estimates of $948.77 million. During the same quarter last year, the business earned $0.81 EPS. The firm’s quarterly revenue was up 28.2% on a year-over-year basis. Equities research analysts anticipate that Construction Partners will post 3.02 earnings per share for the current year.

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.