Construction Partners (NASDAQ:ROAD) Upgraded at Zacks Research

Construction Partners (NASDAQ:ROAD) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “strong-buy” rating in a research note issued on Thursday,Zacks.com reports.

Other research analysts have also issued reports about the company. Weiss Ratings restated a “hold (c+)” rating on shares of Construction Partners in a research note on Monday, December 29th. DA Davidson reissued a “neutral” rating and issued a $120.00 price target on shares of Construction Partners in a report on Friday, November 21st. Bank of America reduced their price objective on shares of Construction Partners from $120.00 to $115.00 and set a “buy” rating for the company in a report on Friday, November 21st. B. Riley initiated coverage on shares of Construction Partners in a research report on Thursday, January 15th. They set a “neutral” rating and a $117.00 target price on the stock. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $135.00 price target (up previously from $120.00) on shares of Construction Partners in a research report on Tuesday, October 21st. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.20.

Construction Partners Stock Performance

NASDAQ:ROAD opened at $109.88 on Thursday. The firm’s 50-day moving average is $110.35 and its 200-day moving average is $113.76. The company has a market cap of $6.21 billion, a price-to-earnings ratio of 60.04, a PEG ratio of 1.06 and a beta of 0.87. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.34 and a current ratio of 1.61. Construction Partners has a 52-week low of $64.79 and a 52-week high of $138.90.

Construction Partners (NASDAQ:ROAD) last released its earnings results on Thursday, November 20th. The company reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.04). The firm had revenue of $899.85 million for the quarter, compared to analyst estimates of $896.17 million. Construction Partners had a return on equity of 14.42% and a net margin of 3.62%.The firm’s quarterly revenue was up 67.2% compared to the same quarter last year. During the same period last year, the business earned $0.56 earnings per share. Equities research analysts anticipate that Construction Partners will post 1.96 earnings per share for the current year.

Hedge Funds Weigh In On Construction Partners

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

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.