Construction Partners, Inc. (NASDAQ:ROAD) Stock Rated "Moderate Buy" by Wall Street Brokerages

Key Points

• Construction Partners has a consensus “Moderate Buy” rating from eight analysts, with four holds, three buys, and one strong buy. The average 12-month price target is $132.67, although several firms recently lowered their targets or ratings.
• Institutional investors and hedge funds own 94.83% of ROAD’s shares, while several smaller investment firms recently initiated positions.
• The company exceeded quarterly expectations, reporting $1.08 in EPS versus a $1.01 estimate and $999.42 million in revenue, up 28.2% year over year. Shares opened at $82.71, near the lower end of their 12-month range of $79.33 to $151.00.

Shares of Construction Partners, Inc. (NASDAQ:ROAD - Get Free Report) have been given a consensus rating of "Moderate Buy" by the eight research firms that are covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $132.67.

Several research firms have weighed in on ROAD. Weiss Ratings cut shares of Construction Partners from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, September 17th. Raymond James Financial reduced 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 research report on Friday. Robert W. Baird decreased their price target 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. Finally, Zacks Research cut shares of Construction Partners from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 16th.

Institutional Trading of Construction Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Harbor Investment Advisory LLC bought a new position in shares of Construction Partners in the 1st quarter valued at about $39,000. Hollencrest Capital Management bought a new stake in shares of Construction Partners during the first quarter worth approximately $39,000. USA Financial Formulas bought a new stake in shares of Construction Partners during the third quarter worth approximately $40,000. Jones Financial Companies Lllp bought a new stake in shares of Construction Partners during the second quarter worth approximately $63,000. Finally, Integrated Wealth Concepts LLC acquired a new position in Construction Partners in the second quarter valued at approximately $90,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Construction Partners Stock Performance

Shares of NASDAQ:ROAD opened at $82.71 on Friday. Construction Partners has a twelve month low of $79.33 and a twelve month high of $151.00. The firm has a market cap of $4.69 billion, a PE ratio of 32.44, a price-to-earnings-growth ratio of 0.60 and a beta of 0.93. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.26 and a current ratio of 1.57. The business has a fifty day moving average of $100.33 and a 200-day moving average of $109.01.

Construction Partners (NASDAQ:ROAD - Get Free Report) last issued its quarterly 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. 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 for the quarter, compared to the consensus estimate of $948.77 million. During the same quarter in the prior year, the company earned $0.81 EPS. The firm's quarterly revenue was up 28.2% on a year-over-year basis. On average, equities research analysts predict that Construction Partners will post 3.08 EPS for the current fiscal year.

Construction Partners Company Profile

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.

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