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Construction Partners' (ROAD) Strong-Buy Rating Reaffirmed at Raymond James Financial

Construction Partners logo with Construction background

Key Points

  • Construction Partners' stock received a "strong-buy" rating from Raymond James Financial, with a revised price target of $135.00, indicating a potential upside of 11.21% from its current price.
  • Other brokerages, including Zacks Research and Baird R W, also upgraded the stock's rating to "strong-buy", contributing to the company's current average rating of "Buy" and consensus price target of $117.33.
  • Construction Partners shares recently traded up 3.1% to $121.39, with a market capitalization of $6.81 billion, and a significant year-over-year revenue increase of 50.5% despite missing EPS estimates in their latest quarter.
  • MarketBeat previews top five stocks to own in November.

Construction Partners (NASDAQ:ROAD - Get Free Report)'s stock had its "strong-buy" rating reaffirmed by equities research analysts at Raymond James Financial in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $135.00 price objective on the stock, up from their previous price objective of $120.00. Raymond James Financial's price objective would indicate a potential upside of 11.21% from the company's current price.

Several other brokerages have also weighed in on ROAD. Zacks Research upgraded shares of Construction Partners from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 6th. Baird R W raised shares of Construction Partners from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 8th. Robert W. Baird set a $122.00 price target on Construction Partners and gave the stock an "outperform" rating in a research note on Friday, August 8th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Construction Partners in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, Construction Partners presently has an average rating of "Buy" and a consensus price target of $117.33.

Check Out Our Latest Research Report on ROAD

Construction Partners Stock Up 3.1%

Shares of NASDAQ:ROAD traded up $3.68 on Tuesday, hitting $121.39. 184,527 shares of the company's stock were exchanged, compared to its average volume of 537,035. The company has a market capitalization of $6.81 billion, a PE ratio of 88.57, a P/E/G ratio of 0.99 and a beta of 0.98. Construction Partners has a 1-year low of $64.79 and a 1-year high of $138.90. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.20 and a current ratio of 1.47. The firm's 50-day moving average is $122.05 and its 200 day moving average is $106.04.

Construction Partners (NASDAQ:ROAD - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). Construction Partners had a return on equity of 12.24% and a net margin of 3.04%.The firm had revenue of $779.28 million for the quarter, compared to analyst estimates of $810.47 million. During the same quarter last year, the firm posted $0.59 EPS. The firm'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. Sell-side analysts predict that Construction Partners will post 1.96 EPS for the current year.

Institutional Investors Weigh In On Construction Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ROAD. Montag A & Associates Inc. bought a new stake in shares of Construction Partners in the 1st quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Construction Partners by 2,750.0% in the second quarter. Caitong International Asset Management Co. Ltd now owns 285 shares of the company's stock worth $30,000 after acquiring an additional 275 shares during the last quarter. MAI Capital Management purchased a new stake in shares of Construction Partners during the 2nd quarter worth about $44,000. Hazlett Burt & Watson Inc. raised its position in Construction Partners by 88.9% during the second quarter. Hazlett Burt & Watson Inc. now owns 425 shares of the company's stock valued at $45,000 after acquiring an additional 200 shares in the last quarter. Finally, Mather Group LLC. acquired a new stake in shares of Construction Partners in the 3rd quarter valued at $47,000. Institutional investors own 94.83% of the company's stock.

Construction Partners Company Profile

(Get Free Report)

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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Analyst Recommendations for Construction Partners (NASDAQ:ROAD)

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