Construction Partners, Inc. (NASDAQ:ROAD) Receives Average Rating of “Moderate Buy” from Analysts

Construction Partners, Inc. (NASDAQ:ROAD) has been given an average rating of “Moderate Buy” by the eight ratings firms that are covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $134.1667.

ROAD has been the topic of a number of research reports. Raymond James Financial reduced their price objective on Construction Partners from $161.00 to $150.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, July 15th. Truist Financial assumed coverage on Construction Partners in a research report on Wednesday, June 3rd. They issued a “hold” rating and a $130.00 target price for the company. Zacks Research lowered Construction Partners from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 16th. Robert W. Baird reduced their price target on Construction Partners from $169.00 to $145.00 and set an “outperform” rating on the stock in a report on Wednesday, July 1st. Finally, Weiss Ratings cut Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th.

Institutional Investors Weigh In On Construction Partners

A number of institutional investors have recently added to or reduced their stakes in ROAD. Morse Asset Management Inc grew its holdings in Construction Partners by 300.0% during the 3rd quarter. Morse Asset Management Inc now owns 240 shares of the company’s stock worth $30,000 after acquiring an additional 180 shares during the last quarter. Danske Bank A S bought a new position in shares of Construction Partners during the third quarter valued at $38,000. Harbor Investment Advisory LLC bought a new position in shares of Construction Partners during the first quarter valued at $39,000. Hollencrest Capital Management acquired a new position in shares of Construction Partners during the first quarter worth $39,000. Finally, Quarry LP acquired a new position in shares of Construction Partners during the third quarter worth $42,000. 94.83% of the stock is owned by institutional investors.

Construction Partners Stock Performance

NASDAQ ROAD opened at $108.12 on Tuesday. The firm’s fifty day moving average price is $110.31 and its two-hundred day moving average price is $116.70. The stock has a market cap of $6.11 billion, a PE ratio of 47.42, a PEG ratio of 0.87 and a beta of 0.90. Construction Partners has a fifty-two week low of $93.22 and a fifty-two week high of $151.00. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.21 and a current ratio of 1.53.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings results on Friday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.23. Construction Partners had a net margin of 3.90% and a return on equity of 15.22%. The company had revenue of $769.20 million during the quarter, compared to the consensus estimate of $678.46 million. During the same period in the prior year, the business earned $0.08 earnings per share. The company’s revenue for the quarter was up 34.6% compared to the same quarter last year. On average, equities analysts expect that Construction Partners will post 2.91 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.