Brokerages Set Construction Partners, Inc. (NASDAQ:ROAD) PT at $132.50

Shares of Construction Partners, Inc. (NASDAQ:ROAD) have earned a consensus rating of “Moderate Buy” from the eight ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $132.50.

Several analysts recently commented on the company. Truist Financial initiated coverage on Construction Partners in a research note on Wednesday, June 3rd. They issued a “hold” rating and a $130.00 price target on the stock. Robert W. Baird dropped their price objective on Construction Partners from $169.00 to $145.00 and set an “outperform” rating for the company in a research note on Wednesday, July 1st. B. Riley Financial raised Construction Partners from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $117.00 to $135.00 in a report on Thursday, April 2nd. Weiss Ratings downgraded shares of Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Finally, Zacks Research raised shares of Construction Partners from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th.

Institutional Trading of Construction Partners

Large investors have recently added to or reduced their stakes in the company. Geneva Capital Management LLC increased its holdings in shares of Construction Partners by 0.3% during the fourth quarter. Geneva Capital Management LLC now owns 1,821,134 shares of the company’s stock worth $197,684,000 after buying an additional 6,163 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Construction Partners by 23.7% in the 4th quarter. Invesco Ltd. now owns 1,481,914 shares of the company’s stock worth $160,862,000 after acquiring an additional 284,082 shares in the last quarter. Geode Capital Management LLC grew its position in Construction Partners by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 1,163,923 shares of the company’s stock worth $126,364,000 after acquiring an additional 4,118 shares during the last quarter. State Street Corp grew its position in Construction Partners by 4.7% during the 2nd quarter. State Street Corp now owns 1,112,231 shares of the company’s stock worth $118,208,000 after acquiring an additional 49,898 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in Construction Partners by 29.6% during the 1st quarter. First Trust Advisors LP now owns 1,030,378 shares of the company’s stock valued at $114,496,000 after purchasing an additional 235,616 shares in the last quarter. 94.83% of the stock is owned by institutional investors.

Construction Partners Stock Up 4.1%

Shares of ROAD opened at $97.35 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.53 and a debt-to-equity ratio of 1.75. The company has a 50-day moving average price of $115.45 and a two-hundred day moving average price of $117.54. The stock has a market cap of $5.50 billion, a price-to-earnings ratio of 42.70, a P/E/G ratio of 0.78 and a beta of 0.88. Construction Partners has a 12 month low of $93.22 and a 12 month high of $151.00.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings data on Friday, May 8th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.23. Construction Partners had a return on equity of 15.22% and a net margin of 3.90%.The company had revenue of $769.20 million for the quarter, compared to analyst estimates of $678.46 million. During the same period in the prior year, the company posted $0.08 EPS. The company’s revenue was up 34.6% compared to the same quarter last year. Equities analysts predict that Construction Partners will post 2.95 EPS for the current fiscal year.

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.