Construction Partners (NASDAQ:ROAD) Sets New 12-Month High - Still a Buy?

Key Points

• Construction Partners, Inc. (NASDAQ:ROAD) achieved a new 52-week high, trading at $126.97, up from a previous close of $125.20, with a total volume of 54,339 shares.
• Analysts have set a consensus rating of "Buy" for the stock, with Robert W. Baird raising its price target to $122.00 and upgrading the stock to a "strong-buy" rating.
• Despite a year-over-year revenue increase of 50.5%, Construction Partners reported an EPS of $0.81 for the last quarter, missing the consensus estimate of $0.87.

Construction Partners, Inc. (NASDAQ:ROAD - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $126.85 and last traded at $126.97, with a volume of 54339 shares changing hands. The stock had previously closed at $125.20.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Robert W. Baird set a $122.00 target price on Construction Partners and gave the stock an "outperform" rating in a research report on Friday, August 8th. Raymond James Financial reissued a "strong-buy" rating on shares of Construction Partners in a research note on Friday, August 8th. Finally, Baird R W upgraded shares of Construction Partners from a "hold" rating to a "strong-buy" rating in a report on Friday, August 8th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $112.33.

Construction Partners Trading Up 2.2%

The firm has a market capitalization of $7.50 billion, a PE ratio of 97.57, a PEG ratio of 1.68 and a beta of 0.99. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.47 and a quick ratio of 1.20. The firm's fifty day moving average is $113.47 and its two-hundred day moving average is $98.05.

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

Institutional Trading of Construction Partners

Hedge funds and other institutional investors have recently bought and sold shares of the company. Artemis Investment Management LLP boosted its stake in shares of Construction Partners by 225.9% in the 1st quarter. Artemis Investment Management LLP now owns 695,949 shares of the company's stock valued at $50,018,000 after purchasing an additional 482,374 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Construction Partners by 39.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 856,528 shares of the company's stock worth $62,724,000 after acquiring an additional 240,496 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Construction Partners by 81.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 496,783 shares of the company's stock worth $52,798,000 after acquiring an additional 223,457 shares during the last quarter. Vanguard Group Inc. grew its holdings 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 acquiring an additional 173,963 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in Construction Partners by 19.9% in the 2nd quarter. American Century Companies Inc. now owns 984,879 shares of the company's stock worth $104,673,000 after acquiring an additional 163,334 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.