Robert W. Baird Boosts Construction Partners (NASDAQ:ROAD) Price Target to $60.00

Construction Partners (NASDAQ:ROAD - Get Free Report) had its price target boosted by stock analysts at Robert W. Baird from $50.00 to $60.00 in a report issued on Monday, Benzinga reports. The firm currently has a "neutral" rating on the stock. Robert W. Baird's price objective would indicate a potential upside of 9.25% from the stock's current price.

Several other equities research analysts also recently issued reports on ROAD. Stifel Nicolaus raised their price target on Construction Partners from $51.00 to $57.00 and gave the company a "buy" rating in a research report on Monday, February 12th. Sidoti lowered Construction Partners from a "buy" rating to a "neutral" rating and set a $59.00 price target for the company. in a report on Thursday, March 28th. Two investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Construction Partners has a consensus rating of "Moderate Buy" and an average price target of $54.00.

Construction Partners Stock Down 0.9 %

NASDAQ ROAD traded down $0.52 during trading on Monday, reaching $54.92. The company's stock had a trading volume of 405,947 shares, compared to its average volume of 365,601. The business has a 50-day moving average price of $53.50 and a 200-day moving average price of $46.99. Construction Partners has a 1-year low of $27.33 and a 1-year high of $58.65. The stock has a market capitalization of $2.89 billion, a PE ratio of 46.94, a PEG ratio of 1.44 and a beta of 0.68. The company has a current ratio of 1.75, a quick ratio of 1.39 and a debt-to-equity ratio of 0.82.

Construction Partners (NASDAQ:ROAD - Get Free Report) last issued its quarterly earnings data on Friday, May 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.07) by $0.05. The firm had revenue of $371.43 million during the quarter, compared to analysts' expectations of $363.12 million. Construction Partners had a net margin of 3.68% and a return on equity of 12.11%. Construction Partners's revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.11) earnings per share. On average, research analysts forecast that Construction Partners will post 1.34 earnings per share for the current fiscal year.

Institutional Trading of Construction Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geneva Capital Management LLC grew its stake in shares of Construction Partners by 8.5% in the 1st quarter. Geneva Capital Management LLC now owns 3,408,788 shares of the company's stock valued at $191,403,000 after purchasing an additional 268,225 shares during the period. Vanguard Group Inc. boosted its position in Construction Partners by 3.0% in the first quarter. Vanguard Group Inc. now owns 2,415,461 shares of the company's stock valued at $135,628,000 after buying an additional 69,223 shares in the last quarter. Invesco Ltd. grew its stake in Construction Partners by 2.6% during the third quarter. Invesco Ltd. now owns 2,225,619 shares of the company's stock worth $81,369,000 after buying an additional 56,595 shares during the last quarter. Wasatch Advisors LP raised its stake in shares of Construction Partners by 188.3% in the first quarter. Wasatch Advisors LP now owns 1,692,328 shares of the company's stock valued at $95,024,000 after acquiring an additional 1,105,423 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Construction Partners by 15.0% during the third quarter. American Century Companies Inc. now owns 1,316,081 shares of the company's stock worth $48,116,000 after purchasing an additional 172,109 shares during the last quarter. 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.