Construction Partners (NASDAQ:ROAD) Sets New 1-Year High - Still a Buy?

Key Points

• Construction Partners, Inc. (NASDAQ:ROAD) reached a new 52-week high of $136.83, with a last traded price of $135.82, reflecting strong trading activity with 170,903 shares changing hands.
• Analysts have varied ratings for the stock, with Robert W. Baird setting a price target of $122.00 and others giving a consensus rating of "Buy" with an average price target of $112.33.
• The company reported quarterly earnings of $0.81 EPS, which fell short of the consensus estimate of $0.87, despite showing a revenue increase of 50.5% year-over-year to $779.28 million.

Construction Partners, Inc. (NASDAQ:ROAD - Get Free Report) shares hit a new 52-week high on Monday . The company traded as high as $136.83 and last traded at $135.82, with a volume of 170903 shares changing hands. The stock had previously closed at $133.67.

Analysts Set New Price Targets

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

Construction Partners Price Performance

The company has a current ratio of 1.47, a quick ratio of 1.20 and a debt-to-equity ratio of 1.63. The firm has a market cap of $7.67 billion, a price-to-earnings ratio of 99.81, a price-to-earnings-growth ratio of 1.71 and a beta of 0.99. The stock has a 50-day moving average of $113.47 and a two-hundred day moving average of $98.46.

Construction Partners (NASDAQ:ROAD - Get Free Report) last released 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 return on equity of 12.24% and a net margin of 3.04%.The company had revenue of $779.28 million for the quarter, compared to the consensus estimate of $810.47 million. During the same quarter last year, the company posted $0.59 EPS. The business's revenue was up 50.5% compared to the same quarter last year. Construction Partners has set its FY 2025 guidance at EPS. On average, analysts anticipate that Construction Partners, Inc. will post 1.96 EPS for the current year.

Hedge Funds Weigh In On Construction Partners

Several hedge funds have recently modified their holdings of ROAD. Teacher Retirement System of Texas bought a new position in Construction Partners during the first quarter worth about $491,000. Asset Management One Co. Ltd. grew its position in shares of Construction Partners by 15.5% in the 1st quarter. Asset Management One Co. Ltd. now owns 76,119 shares of the company's stock valued at $5,471,000 after buying an additional 10,226 shares during the last quarter. LPL Financial LLC grew its position in shares of Construction Partners by 16.3% in the 1st quarter. LPL Financial LLC now owns 45,371 shares of the company's stock valued at $3,261,000 after buying an additional 6,365 shares during the last quarter. Swiss National Bank raised its position in shares of Construction Partners by 5.7% in the 1st quarter. Swiss National Bank now owns 91,000 shares of the company's stock worth $6,540,000 after acquiring an additional 4,900 shares in the last quarter. Finally, Zimmer Partners LP bought a new position in shares of Construction Partners in the 1st quarter worth about $10,062,000. Institutional investors own 94.83% of the company's stock.

Construction Partners Company Profile

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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