Construction Partners (NASDAQ:ROAD) Price Target Cut to $90.00 by Analysts at Truist Financial

Key Points

• Truist cut its price target on Construction Partners to $90 from $130 and maintained a Hold rating, implying about 16% upside from the reported share price of $77.56.
• Analyst views are mixed: the consensus rating is Moderate Buy with a $122.67 target, while Raymond James reiterated Strong Buy at $125; three analysts rate the stock Buy and four Hold.
• The company beat quarterly estimates, reporting EPS of $1.08 versus $1.01 expected and revenue of $999.42 million, up 28.2% year over year. Shares have fallen from a 52-week high of $151 to a reported $77.56.

Construction Partners (NASDAQ:ROAD - Get Free Report) had its price objective cut by analysts at Truist Financial from $130.00 to $90.00 in a report released on Friday, Benzinga reports. The firm presently has a "hold" rating on the stock. Truist Financial's price objective would suggest a potential upside of 16.03% from the company's current price.

A number of other analysts also recently issued reports on ROAD. Raymond James Financial reissued a "strong-buy" rating and issued a $125.00 target price on shares of Construction Partners in a research report on Friday. Weiss Ratings downgraded Construction Partners from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, September 17th. Zacks Research lowered Construction Partners from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 16th. Finally, Robert W. Baird decreased their price objective on Construction Partners from $145.00 to $141.00 and set an "outperform" rating for the company in a report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $122.67.

Construction Partners Stock Performance

Shares of NASDAQ ROAD traded up $0.04 during mid-day trading on Friday, reaching $77.56. 711,783 shares of the company's stock were exchanged, compared to its average volume of 677,680. The firm has a market capitalization of $4.40 billion, a price-to-earnings ratio of 30.45, a price-to-earnings-growth ratio of 0.74 and a beta of 0.94. Construction Partners has a 52 week low of $74.51 and a 52 week high of $151.00. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.57 and a quick ratio of 1.26. The firm has a 50-day moving average price of $92.50 and a two-hundred day moving average price of $110.50.

Construction Partners (NASDAQ:ROAD - Get Free Report) last posted its quarterly earnings data on Friday, August 7th. The company reported $1.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.01 by $0.07. Construction Partners had a net margin of 4.10% and a return on equity of 16.06%. The business had revenue of $999.42 million during the quarter, compared to the consensus estimate of $948.77 million. During the same quarter last year, the company posted $0.81 earnings per share. The firm's quarterly revenue was up 28.2% compared to the same quarter last year. Analysts predict that Construction Partners will post 3.04 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ROAD. Russell Investments Group Ltd. grew its position in Construction Partners by 7.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 96,723 shares of the company's stock worth $8,708,000 after acquiring an additional 6,850 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of Construction Partners by 8.1% in the third quarter. Fifth Third Bancorp now owns 218,441 shares of the company's stock worth $19,666,000 after purchasing an additional 16,402 shares during the last quarter. Maryland State Retirement & Pension System purchased a new position in shares of Construction Partners in the third quarter worth $968,000. Van Berkom & Associates Inc. raised its holdings in Construction Partners by 45.5% during the 3rd quarter. Van Berkom & Associates Inc. now owns 606,302 shares of the company's stock valued at $54,585,000 after buying an additional 189,576 shares during the last quarter. Finally, Summit Creek Advisors LLC raised its holdings in Construction Partners by 6.7% during the 3rd quarter. Summit Creek Advisors LLC now owns 74,831 shares of the company's stock valued at $6,737,000 after buying an additional 4,701 shares during the last quarter. Institutional investors own 94.83% of the company's stock.

Construction Partners Company Profile

Construction Partners, Inc NASDAQ: ROAD is a civil infrastructure company that builds and maintains transportation and other public infrastructure in the United States. The company primarily serves public-sector customers, including state and local governments, as well as private-sector customers involved in residential, commercial and industrial development.

Its services include asphalt production and paving, roadway construction, milling, maintenance and repair, site development, utility installation and related infrastructure work.

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