Construction Partners (NASDAQ:ROAD) Shares Gap Up to $53.81

Shares of Construction Partners, Inc. (NASDAQ:ROAD - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $53.81, but opened at $57.11. Construction Partners shares last traded at $54.92, with a volume of 88,747 shares.

Analyst Upgrades and Downgrades

ROAD has been the subject of a number of research reports. Stifel Nicolaus lifted their price objective on Construction Partners from $51.00 to $57.00 and gave the stock a "buy" rating in a research report on Monday, February 12th. Robert W. Baird downgraded shares of Construction Partners from an "outperform" rating to a "neutral" rating and boosted their price target for the stock from $46.00 to $50.00 in a research note on Monday, February 12th. Finally, Sidoti lowered shares of Construction Partners from a "buy" rating to a "neutral" rating and set a $59.00 price objective on the stock. in a report on Thursday, March 28th. Two analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $52.00.

Construction Partners Stock Performance

The stock has a market cap of $2.92 billion, a P/E ratio of 49.82, a PEG ratio of 1.33 and a beta of 0.68. The stock has a fifty day simple moving average of $53.26 and a 200-day simple moving average of $46.64. The company has a quick ratio of 1.39, a current ratio of 1.75 and a debt-to-equity ratio of 0.82.

Construction Partners (NASDAQ:ROAD - Get Free Report) last released its quarterly earnings data on Friday, February 9th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.06. The business had revenue of $396.51 million for the quarter, compared to analyst estimates of $393.62 million. Construction Partners had a net margin of 3.52% and a return on equity of 11.56%. Construction Partners's quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.04 EPS. Equities analysts expect that Construction Partners, Inc. will post 1.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ROAD. ProShare Advisors LLC increased its holdings in shares of Construction Partners by 15.8% in the first quarter. ProShare Advisors LLC now owns 7,709 shares of the company's stock worth $433,000 after acquiring an additional 1,054 shares in the last quarter. Sei Investments Co. raised its holdings in Construction Partners by 12.6% during the 1st quarter. Sei Investments Co. now owns 72,337 shares of the company's stock worth $4,062,000 after buying an additional 8,083 shares during the period. Tectonic Advisors LLC bought a new position in Construction Partners in the first quarter valued at approximately $310,000. TimesSquare Capital Management LLC acquired a new position in shares of Construction Partners in the first quarter valued at approximately $19,832,000. Finally, SG Americas Securities LLC bought a new stake in shares of Construction Partners during the first quarter worth $139,000. 94.83% of the stock is currently owned by institutional investors.

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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