Construction Partners, Inc. (NASDAQ:ROAD) Receives Average Recommendation of "Buy" from Analysts

Key Points

• Construction Partners, Inc. (NASDAQ:ROAD) has received a consensus recommendation of "Buy" from six analysts, with an average 12-month price target of $112.33.
• The company reported $0.81 earnings per share for the recent quarter, missing estimates, but showed a revenue increase of 50.5% year-over-year.
• Institutional investors hold 94.83% of the company's stock, with notable recent increases in positions by major firms like Vanguard Group and Invesco Ltd.

Construction Partners, Inc. (NASDAQ:ROAD - Get Free Report) has received a consensus recommendation of "Buy" from the six analysts that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, one has issued a buy rating and three have given a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $112.3333.

Several equities research analysts recently weighed in on ROAD shares. Zacks Research upgraded shares of Construction Partners from a "hold" rating to a "strong-buy" rating in a research note on Monday. Weiss Ratings reiterated a "hold (c+)" rating on shares of Construction Partners in a research note on Saturday, September 27th. Baird R W upgraded shares of Construction Partners from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 8th. Raymond James Financial reiterated a "strong-buy" rating on shares of Construction Partners in a research note on Friday, August 8th. Finally, Robert W. Baird set a $122.00 price objective on shares of Construction Partners and gave the stock an "outperform" rating in a research note on Friday, August 8th.

Construction Partners Stock Performance

Shares of Construction Partners stock opened at $121.79 on Wednesday. The firm has a market cap of $6.83 billion, a PE ratio of 88.90, a price-to-earnings-growth ratio of 1.07 and a beta of 0.98. The firm's 50-day simple moving average is $118.73 and its 200-day simple moving average is $102.94. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.20 and a current ratio of 1.47. Construction Partners has a 1 year low of $64.79 and a 1 year high of $138.90.

Construction Partners (NASDAQ:ROAD - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The company had revenue of $779.28 million during the quarter, compared to analyst estimates of $810.47 million. Construction Partners had a net margin of 3.04% and a return on equity of 12.24%. The business's revenue for the quarter was up 50.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.59 EPS. Construction Partners has set its FY 2025 guidance at EPS. Equities analysts forecast that Construction Partners will post 1.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Construction Partners by 5.0% in the 1st quarter. Vanguard Group Inc. now owns 3,666,331 shares of the company's stock worth $263,499,000 after purchasing an additional 173,963 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in Construction Partners by 0.5% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,592,079 shares of the company's stock worth $186,293,000 after purchasing an additional 12,808 shares during the last quarter. Invesco Ltd. grew its position in Construction Partners by 4.2% in the 2nd quarter. Invesco Ltd. now owns 1,308,761 shares of the company's stock worth $139,095,000 after purchasing an additional 52,670 shares during the last quarter. Geode Capital Management LLC grew its position in Construction Partners by 1.6% in the 2nd quarter. Geode Capital Management LLC now owns 1,153,123 shares of the company's stock worth $122,568,000 after purchasing an additional 18,229 shares during the last quarter. Finally, State Street Corp grew its position in Construction Partners by 4.7% in the 2nd quarter. State Street Corp now owns 1,112,231 shares of the company's stock worth $118,208,000 after purchasing an additional 49,898 shares during the last quarter. Institutional investors own 94.83% of the company's stock.

About Construction Partners

Construction Partners, Inc, a civil infrastructure company, constructs and maintains roadways in Alabama, Florida, Georgia, North Carolina, South Carolina, and Tennessee. The company provides various products and services to public and private infrastructure projects, such as highways, roads, bridges, airports, and commercial and residential developments.

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