Construction Partners’ (ROAD) Neutral Rating Reiterated at DA Davidson

Construction Partners (NASDAQ:ROAD)‘s stock had its “neutral” rating reiterated by equities researchers at DA Davidson in a research note issued to investors on Friday,Benzinga reports. They presently have a $120.00 price objective on the stock. DA Davidson’s price target indicates a potential upside of 19.78% from the stock’s current price.

ROAD has been the subject of several other reports. Robert W. Baird decreased their price target on shares of Construction Partners from $131.00 to $124.00 and set an “outperform” rating for the company in a report on Friday. Bank of America lowered their price objective on shares of Construction Partners from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Friday. Zacks Research lowered Construction Partners from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Construction Partners in a research report on Tuesday. Finally, Baird R W upgraded shares of Construction Partners from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 8th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $123.50.

Construction Partners Trading Down 0.2%

Shares of ROAD traded down $0.25 during mid-day trading on Friday, reaching $100.18. The stock had a trading volume of 524,958 shares, compared to its average volume of 526,896. The firm has a market cap of $5.62 billion, a price-to-earnings ratio of 73.24, a P/E/G ratio of 0.92 and a beta of 1.02. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.47 and a quick ratio of 1.20. Construction Partners has a 52-week low of $64.79 and a 52-week high of $138.90. The business’s fifty day moving average is $119.24 and its 200 day moving average is $111.24.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings results on Thursday, November 20th. The company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.04). Construction Partners had a return on equity of 12.24% and a net margin of 3.04%.The company had revenue of $899.85 million for the quarter, compared to analyst estimates of $896.17 million. During the same period in the prior year, the business earned $0.56 earnings per share. Construction Partners’s revenue for the quarter was up 67.2% compared to the same quarter last year. On average, sell-side analysts predict that Construction Partners will post 1.96 EPS for the current fiscal year.

Institutional Trading of Construction Partners

A number of institutional investors have recently bought and sold shares of ROAD. TD Waterhouse Canada Inc. acquired a new stake in Construction Partners in the 3rd quarter valued at about $25,000. AlphaQuest LLC grew its position in shares of Construction Partners by 292.5% in the third quarter. AlphaQuest LLC now owns 208 shares of the company’s stock valued at $26,000 after purchasing an additional 155 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its stake in shares of Construction Partners by 2,750.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 285 shares of the company’s stock worth $30,000 after purchasing an additional 275 shares in the last quarter. Morse Asset Management Inc raised its position in shares of 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 purchasing an additional 180 shares during the last quarter. Finally, Danske Bank A S acquired a new stake in Construction Partners during the 3rd quarter valued at $38,000. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Construction Partners Company Profile

Construction Partners, Inc, a civil infrastructure company, constructs and maintains roadways in Alabama, Florida, Georgia, North Carolina, South Carolina, and Tennessee. The company provides various products and services to public and private infrastructure projects, such as highways, roads, bridges, airports, and commercial and residential developments.