Construction Partners, Inc. (NASDAQ:ROAD) Stock Has Consensus Price Target of $133.50

Construction Partners, Inc. (NASDAQ:ROAD) has been given an average rating of “Moderate Buy” by the eight analysts that are currently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $133.50.

Several analysts have recently weighed in on the stock. Zacks Research lowered shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 16th. Raymond James Financial dropped their price target on shares of Construction Partners from $161.00 to $150.00 and set a “strong-buy” rating for the company in a research report on Wednesday, July 15th. Weiss Ratings cut shares of Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, September 17th. Robert W. Baird cut their price target on shares of Construction Partners from $145.00 to $141.00 and set an “outperform” rating for the company in a research note on Monday, August 10th. Finally, Truist Financial initiated coverage on Construction Partners in a report on Wednesday, June 3rd. They set a “hold” rating and a $130.00 price objective on the stock.

Hedge Funds Weigh In On Construction Partners

Hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC raised its position in Construction Partners by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 1,163,923 shares of the company’s stock valued at $126,364,000 after purchasing an additional 4,118 shares during the last quarter. Wasatch Advisors LP boosted its stake in Construction Partners by 20.6% in the second quarter. Wasatch Advisors LP now owns 1,008,474 shares of the company’s stock worth $119,776,000 after purchasing an additional 172,034 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Construction Partners by 29.6% during the first quarter. First Trust Advisors LP now owns 1,030,378 shares of the company’s stock worth $114,496,000 after purchasing an additional 235,616 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Construction Partners by 19.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 967,350 shares of the company’s stock worth $109,214,000 after purchasing an additional 156,469 shares during the last quarter. Finally, Capital World Investors increased its stake in shares of Construction Partners by 97.5% in the fourth quarter. Capital World Investors now owns 856,696 shares of the company’s stock valued at $92,994,000 after buying an additional 423,033 shares in the last quarter. Institutional investors own 94.83% of the company’s stock.

Construction Partners Stock Up 4.3%

Shares of ROAD stock opened at $93.71 on Wednesday. The stock has a market cap of $5.32 billion, a P/E ratio of 36.75, a price-to-earnings-growth ratio of 0.83 and a beta of 0.90. Construction Partners has a one year low of $88.73 and a one year high of $151.00. The stock has a fifty day moving average price of $105.44 and a 200 day moving average price of $111.81. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.57 and a quick ratio of 1.26.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings results on Friday, August 7th. The company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.07. Construction Partners had a net margin of 4.10% and a return on equity of 16.06%. The firm had revenue of $999.42 million for the quarter, compared to analyst estimates of $948.77 million. During the same quarter in the previous year, the firm posted $0.81 EPS. The business’s revenue for the quarter was up 28.2% on a year-over-year basis. Analysts predict that Construction Partners will post 3.04 earnings per share for the current year.

About Construction Partners

Construction Partners, Inc is an infrastructure-services company that specializes in the construction and maintenance of roads and other transportation-related projects. Operating primarily in the southeastern United States, the company serves public-sector customers, commercial developers and private entities.

The company’s activities include asphalt production and paving, road construction, highway and bridge work, site development, grading, milling and related infrastructure services.