Construction Partners, Inc. (NASDAQ:ROAD) Stock Has Average Target Price of $132.67

Construction Partners, Inc. (NASDAQ:ROAD) has been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $132.67.

Several research analysts recently weighed in on the stock. Zacks Research lowered shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 16th. Robert W. Baird lowered their target price on shares of Construction Partners from $145.00 to $141.00 and set an “outperform” rating for the company in a research note on Monday, August 10th. Weiss Ratings lowered shares of Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, September 17th. Finally, Raymond James Financial cut their target price on shares of Construction Partners from $150.00 to $145.00 and set a “strong-buy” rating on the stock in a report on Friday.

Construction Partners Price Performance

Construction Partners stock opened at $82.71 on Friday. The firm has a market capitalization of $4.69 billion, a P/E ratio of 32.44, a PEG ratio of 0.60 and a beta of 0.93. Construction Partners has a 1 year low of $79.33 and a 1 year high of $151.00. The business has a 50-day moving average of $100.33 and a 200-day moving average of $109.01. The company has a current ratio of 1.57, a quick ratio of 1.26 and a debt-to-equity ratio of 1.68.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings results on Friday, August 7th. The company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.07. The company had revenue of $999.42 million during the quarter, compared to analysts’ expectations of $948.77 million. Construction Partners had a return on equity of 16.06% and a net margin of 4.10%. Construction Partners’s revenue was up 28.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.81 EPS. On average, equities analysts anticipate that Construction Partners will post 3.08 EPS for the current year.

Institutional Trading of Construction Partners

Several hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its holdings in Construction Partners by 3.2% during the first quarter. Bank of New York Mellon Corp now owns 579,757 shares of the company’s stock worth $64,423,000 after acquiring an additional 17,851 shares in the last quarter. Wasatch Advisors LP grew its stake in Construction Partners by 20.6% in the second quarter. Wasatch Advisors LP now owns 1,008,474 shares of the company’s stock valued at $119,776,000 after acquiring an additional 172,034 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Construction Partners by 11.1% in the first quarter. Dimensional Fund Advisors LP now owns 587,477 shares of the company’s stock worth $65,271,000 after acquiring an additional 58,908 shares in the last quarter. PVG Asset Management Corp increased its holdings in shares of Construction Partners by 510.4% in the first quarter. PVG Asset Management Corp now owns 14,614 shares of the company’s stock worth $1,758,000 after acquiring an additional 12,220 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Construction Partners by 19.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 967,350 shares of the company’s stock worth $109,214,000 after acquiring an additional 156,469 shares in 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 vertically integrated civil infrastructure company that builds and maintains transportation infrastructure in the southeastern United States. The company serves public and private-sector customers, including state and local governments, commercial developers, and other contractors.

Its primary activities include the production and sale of hot-mix asphalt, aggregate production, asphalt paving, grading, site development, and road construction.