Zacks Research Upgrades Construction Partners (NASDAQ:ROAD) to “Strong-Buy”

Construction Partners (NASDAQ:ROAD) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other equities analysts have also weighed in on the company. Robert W. Baird decreased their price target on Construction Partners from $169.00 to $145.00 and set an “outperform” rating for the company in a research report on Wednesday, July 1st. Raymond James Financial reiterated a “strong-buy” rating and issued a $140.00 target price on shares of Construction Partners in a report on Monday, April 27th. Truist Financial assumed coverage on shares of Construction Partners in a research report on Wednesday, June 3rd. They issued a “hold” rating and a $130.00 target price on the stock. B. Riley Financial upgraded shares of Construction Partners from a “neutral” rating to a “buy” rating and upped their price target for the company from $117.00 to $135.00 in a research report on Thursday, April 2nd. Finally, Weiss Ratings lowered shares of Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $132.50.

Construction Partners Trading Down 1.7%

Construction Partners stock opened at $101.90 on Tuesday. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.21 and a current ratio of 1.53. The firm has a market cap of $5.76 billion, a price-to-earnings ratio of 44.69, a price-to-earnings-growth ratio of 0.86 and a beta of 0.88. Construction Partners has a 1 year low of $93.22 and a 1 year high of $151.00. The firm’s 50 day moving average price is $117.58 and its two-hundred day moving average price is $117.99.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Capital World Investors boosted its stake in shares of Construction Partners by 97.5% during the 4th 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 during the period. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Construction Partners in the fourth quarter worth $42,518,000. Invesco Ltd. raised its holdings in shares of Construction Partners by 23.7% during the fourth 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. Fifth Third Bancorp boosted its position in Construction Partners by 30,525.8% during the first quarter. Fifth Third Bancorp now owns 239,800 shares of the company’s stock valued at $26,647,000 after purchasing an additional 239,017 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in Construction Partners by 29.6% during the first 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 during the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.

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.