Robert W. Baird Forecasts Strong Price Appreciation for Construction Partners (NASDAQ:ROAD) Stock

Key Points

• Robert W. Baird raised its price target on Construction Partners to $169 from $129 and kept an outperform rating, implying about 20.3% upside from the current share price.
• The company recently reported strong quarterly results, with EPS of $0.18 versus expectations for a loss and revenue of $769.2 million, beating estimates and rising 34.6% year over year.
• Analyst sentiment remains positive overall, with a Moderate Buy consensus and a consensus target price of $137.80, while institutional ownership is high at 94.83%.

Construction Partners (NASDAQ:ROAD - Get Free Report) had its price objective lifted by stock analysts at Robert W. Baird from $129.00 to $169.00 in a report issued on Monday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Robert W. Baird's price target points to a potential upside of 20.30% from the company's current price.

ROAD has been the topic of several other research reports. Zacks Research cut shares of Construction Partners from a "strong-buy" rating to a "hold" rating in a report on Monday, April 27th. DA Davidson raised their target price on shares of Construction Partners from $120.00 to $130.00 and gave the company a "neutral" rating in a report on Friday, February 6th. Weiss Ratings raised shares of Construction Partners from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, April 21st. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $140.00 target price on shares of Construction Partners in a report on Monday, April 27th. Finally, B. Riley Financial raised shares of Construction Partners from a "neutral" rating to a "buy" rating and raised their target price for the company from $117.00 to $135.00 in a report on Thursday, April 2nd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $137.80.

Construction Partners Price Performance

Shares of ROAD opened at $140.48 on Monday. The stock has a market capitalization of $7.94 billion, a PE ratio of 61.61, a P/E/G ratio of 1.25 and a beta of 0.92. Construction Partners has a 1 year low of $91.72 and a 1 year high of $151.00. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.26 and a current ratio of 1.59. The company's 50-day simple moving average is $119.17 and its 200-day simple moving average is $115.97.

Construction Partners (NASDAQ:ROAD - Get Free Report) last issued its quarterly earnings results on Friday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.23. The business had revenue of $769.20 million for the quarter, compared to analysts' expectations of $678.46 million. Construction Partners had a net margin of 3.90% and a return on equity of 15.50%. The business's quarterly revenue was up 34.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.08 earnings per share. Analysts forecast that Construction Partners will post 2.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Construction Partners

Several hedge funds and other institutional investors have recently bought and sold shares of ROAD. TD Waterhouse Canada Inc. purchased a new position in shares of Construction Partners during the third quarter worth approximately $25,000. AlphaQuest LLC grew its position in shares of Construction Partners by 292.5% during the third quarter. AlphaQuest LLC now owns 208 shares of the company's stock worth $26,000 after acquiring an additional 155 shares during the last quarter. Morse Asset Management Inc grew its position in shares of Construction Partners by 300.0% during the third quarter. Morse Asset Management Inc now owns 240 shares of the company's stock worth $30,000 after acquiring an additional 180 shares during the last quarter. Danske Bank A S purchased a new position in shares of Construction Partners during the third quarter worth approximately $38,000. Finally, Quarry LP purchased a new position in shares of Construction Partners during the third quarter worth approximately $42,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

About Construction Partners

Construction Partners, Inc NASDAQ: ROAD is a specialty contractor and infrastructure solutions provider focused on road building, paving, site development and aggregate production. The company delivers a comprehensive suite of civil construction services, including roadway paving and milling, site grading and preparation, stormwater and utility installation, and full-scale asphalt plant operations. By integrating materials production with contracting capabilities, the firm aims to streamline project delivery and maintain quality control across its contracting and materials businesses.

At the heart of Construction Partners' operations are its network of asphalt plants, quarries and aggregate production facilities.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.