Construction Partners, Inc. (NASDAQ:ROAD) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Analysts give Construction Partners a “Moderate Buy” consensus: Four analysts rate the stock a hold, three recommend buying, and one assigns a strong-buy rating. The average 12-month price target is $134.17, above the reported opening price of $108.12.
• Recent analyst actions were mixed but generally cautious: Raymond James and Robert W. Baird lowered their price targets, while Truist Financial initiated coverage with a hold rating; Weiss Ratings and Zacks Research also downgraded the stock to hold.
• Quarterly results exceeded expectations: Construction Partners reported $0.18 in EPS versus the $0.05 loss analysts expected, while revenue rose 34.6% year over year to $769.2 million. Institutional investors and hedge funds own approximately 94.83% of the company’s shares.

Shares of Construction Partners, Inc. (NASDAQ:ROAD - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the eight analysts that are presently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $134.1667.

A number of equities research analysts have issued reports on the stock. Raymond James Financial reduced their price objective on shares of Construction Partners from $161.00 to $150.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, July 15th. Truist Financial began coverage on shares of Construction Partners in a research report on Wednesday, June 3rd. They set a "hold" rating and a $130.00 price target on the stock. Robert W. Baird decreased their price objective on shares of Construction Partners from $169.00 to $145.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 1st. Weiss Ratings downgraded shares of Construction Partners from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, May 26th. Finally, Zacks Research cut Construction Partners from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 16th.

Construction Partners Price Performance

Shares of NASDAQ ROAD opened at $108.12 on Tuesday. The business has a fifty day moving average price of $110.31 and a two-hundred day moving average price of $116.70. The stock has a market capitalization of $6.11 billion, a PE ratio of 47.42, a P/E/G ratio of 0.87 and a beta of 0.90. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.53 and a quick ratio of 1.21. Construction Partners has a fifty-two week low of $93.22 and a fifty-two week high of $151.00.

Construction Partners (NASDAQ:ROAD - Get Free Report) last released its earnings results on Friday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.23. Construction Partners had a return on equity of 15.22% and a net margin of 3.90%.The company had revenue of $769.20 million for the quarter, compared to analyst estimates of $678.46 million. During the same period in the prior year, the firm posted $0.08 EPS. Construction Partners's quarterly revenue was up 34.6% on a year-over-year basis. As a group, equities analysts predict that Construction Partners will post 2.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Construction Partners

A number of institutional investors have recently modified their holdings of ROAD. Morse Asset Management Inc boosted its stake in Construction Partners by 300.0% in the third quarter. Morse Asset Management Inc now owns 240 shares of the company's stock valued at $30,000 after buying an additional 180 shares in the last quarter. Danske Bank A S acquired a new position in Construction Partners during the third quarter worth about $38,000. Harbor Investment Advisory LLC bought a new position in shares of Construction Partners in the first quarter worth about $39,000. Hollencrest Capital Management bought a new position in shares of Construction Partners in the first quarter worth about $39,000. Finally, Quarry LP acquired a new stake in shares of Construction Partners in the 3rd quarter valued at approximately $42,000. Institutional investors and hedge funds own 94.83% of the company's stock.

About Construction Partners

Construction Partners, Inc NASDAQ: ROAD is a specialty contractor and infrastructure solutions provider focused on road building, paving, site development and aggregate production. The company delivers a comprehensive suite of civil construction services, including roadway paving and milling, site grading and preparation, stormwater and utility installation, and full-scale asphalt plant operations. By integrating materials production with contracting capabilities, the firm aims to streamline project delivery and maintain quality control across its contracting and materials businesses.

At the heart of Construction Partners' operations are its network of asphalt plants, quarries and aggregate production facilities.

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