Construction Partners, Inc. (NASDAQ:ROAD) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Construction Partners has a “Moderate Buy” consensus rating from eight analysts, with three buys, four holds and one strong buy. The average 12-month price target is $133.50.
• The company exceeded quarterly expectations, reporting EPS of $1.08 versus $1.01 expected and revenue of $999.42 million, up 28.2% year over year.
• ROAD shares opened at $96.71, near their 52-week low of $93.42 and below both their 50-day and 200-day moving averages. Institutional investors own approximately 94.83% of the stock.

Construction Partners, Inc. (NASDAQ:ROAD - Get Free Report) has been given a consensus rating of "Moderate Buy" by the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $133.50.

Several brokerages have commented on ROAD. Raymond James Financial lowered their price objective on Construction Partners from $161.00 to $150.00 and set a "strong-buy" rating for the company in a research report on Wednesday, July 15th. Zacks Research cut shares of Construction Partners from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 16th. Robert W. Baird dropped their target price on shares of Construction Partners from $145.00 to $141.00 and set an "outperform" rating on the stock in a research note on Monday, August 10th. Truist Financial started coverage on shares of Construction Partners in a report on Wednesday, June 3rd. They set a "hold" rating and a $130.00 price target on the stock. Finally, Weiss Ratings downgraded shares of Construction Partners from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, September 17th.

Construction Partners Price Performance

Shares of Construction Partners stock opened at $96.71 on Wednesday. The stock has a market capitalization of $5.49 billion, a P/E ratio of 37.93, a price-to-earnings-growth ratio of 0.87 and a beta of 0.90. 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 business's 50 day simple moving average is $106.12 and its two-hundred day simple moving average is $112.36. Construction Partners has a one year low of $93.42 and a one year high of $151.00.

Construction Partners (NASDAQ:ROAD - Get Free Report) last posted its earnings results on Friday, August 7th. The company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.07. The company had revenue of $999.42 million for 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 quarterly revenue was up 28.2% on a year-over-year basis. During the same period last year, the firm earned $0.81 earnings per share. Analysts forecast that Construction Partners will post 3.04 EPS for the current year.

Institutional Investors Weigh In On Construction Partners

A number of large investors have recently made changes to their positions in ROAD. Sequoia Financial Advisors LLC purchased a new stake in shares of Construction Partners in the 2nd quarter worth $242,000. Engineers Gate Manager LP purchased a new stake in Construction Partners in the 2nd quarter worth $733,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Construction Partners in the second quarter worth about $90,000. Nykredit A S bought a new position in shares of Construction Partners during the 2nd quarter valued at approximately $259,000. Finally, Corient Private Wealth LP lifted its position in Construction Partners by 69.5% during the second quarter. Corient Private Wealth LP now owns 33,590 shares of the company's stock valued at $3,989,000 after purchasing an additional 13,770 shares during the last quarter. 94.83% of the stock is currently owned by institutional investors.

About Construction Partners

Construction Partners, Inc is an infrastructure-services company that specializes in the construction and maintenance of roads and other transportation-related projects. Operating primarily in the southeastern United States, the company serves public-sector customers, commercial developers and private entities.

The company's activities include asphalt production and paving, road construction, highway and bridge work, site development, grading, milling and related infrastructure services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.