Weiss Ratings Reiterates "Hold (C+)" Rating for Construction Partners (NASDAQ:ROAD)

Key Points

• Weiss Ratings has reiterated a "hold (C+)" rating for Construction Partners (NASDAQ:ROAD), while other firms like Robert W. Baird have set a price target of $122.00, marking it as an "outperform."
• Construction Partners reported a quarterly earnings per share (EPS) of $0.81, falling short of analysts' estimates of $0.87, despite a notable 50.5% year-over-year increase in revenue.
• Institutional investors and hedge funds own approximately 94.83% of Construction Partners' stock, indicating strong institutional support in the company.

Construction Partners (NASDAQ:ROAD - Get Free Report)'s stock had its "hold (c+)" rating restated by analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

A number of other research firms have also issued reports on ROAD. Robert W. Baird set a $122.00 price target on shares of Construction Partners and gave the company an "outperform" rating in a report on Friday, August 8th. Zacks Research upgraded shares of Construction Partners from a "hold" rating to a "strong-buy" rating in a report on Monday. Baird R W upgraded shares of Construction Partners from a "hold" rating to a "strong-buy" rating in a report on Friday, August 8th. Finally, Raymond James Financial reiterated a "strong-buy" rating on shares of Construction Partners in a research note on Friday, August 8th. Three research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $112.33.

Construction Partners Price Performance

Shares of NASDAQ ROAD traded up $3.34 during midday trading on Wednesday, reaching $125.13. The company's stock had a trading volume of 607,005 shares, compared to its average volume of 430,494. 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 company has a 50 day moving average price of $119.15 and a 200 day moving average price of $103.10. Construction Partners has a one year low of $64.79 and a one year high of $138.90. The company has a market cap of $7.02 billion, a price-to-earnings ratio of 91.34, a price-to-earnings-growth ratio of 1.05 and a beta of 0.98.

Construction Partners (NASDAQ:ROAD - Get Free Report) last released 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 business had revenue of $779.28 million during the quarter, compared to the consensus estimate of $810.47 million. During the same quarter in the previous year, the firm earned $0.59 earnings per share. The firm's revenue for the quarter was up 50.5% compared to the same quarter last year. Construction Partners has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Construction Partners will post 1.96 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. GAMMA Investing LLC boosted its holdings in shares of Construction Partners by 33.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,164 shares of the company's stock worth $124,000 after buying an additional 293 shares during the period. Teacher Retirement System of Texas bought a new stake in Construction Partners in the 1st quarter valued at $491,000. Wealth Enhancement Advisory Services LLC bought a new stake in Construction Partners in the 2nd quarter valued at $344,000. Asset Management One Co. Ltd. boosted its holdings in 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 purchasing an additional 10,226 shares during the period. Finally, LPL Financial LLC boosted its holdings in 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 purchasing an additional 6,365 shares during the period. Institutional investors and hedge funds 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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