Construction Partners (NASDAQ:ROAD) Shares Up 9.2% – What’s Next?

Construction Partners, Inc. (NASDAQ:ROAD)’s stock price was up 9.2% on Thursday . The company traded as high as $100.47 and last traded at $99.71. Approximately 410,124 shares traded hands during mid-day trading, an increase of 13% from the average daily volume of 361,364 shares. The stock had previously closed at $91.31.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. DA Davidson boosted their price target on shares of Construction Partners from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Robert W. Baird increased their price target on Construction Partners from $68.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Raymond James raised their price target on Construction Partners from $69.00 to $72.00 and gave the stock a “strong-buy” rating in a research report on Monday, August 12th. Finally, Stifel Nicolaus boosted their price objective on Construction Partners from $61.00 to $67.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Three research 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $69.00.

Construction Partners Stock Up 3.2 %

The firm has a market cap of $5.27 billion, a price-to-earnings ratio of 75.74, a P/E/G ratio of 1.21 and a beta of 0.65. The firm has a fifty day simple moving average of $78.38 and a 200-day simple moving average of $65.26. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.30 and a current ratio of 1.60.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings results on Thursday, November 21st. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.01). Construction Partners had a return on equity of 13.15% and a net margin of 3.78%. The firm had revenue of $538.16 million for the quarter, compared to analyst estimates of $538.04 million. During the same period in the previous year, the business posted $0.59 earnings per share. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. As a group, sell-side analysts expect that Construction Partners, Inc. will post 1.87 EPS for the current year.

Institutional Trading of Construction Partners

Several large investors have recently modified their holdings of the stock. Conestoga Capital Advisors LLC lifted its position in Construction Partners by 3.0% during the second quarter. Conestoga Capital Advisors LLC now owns 4,135,202 shares of the company’s stock worth $228,305,000 after purchasing an additional 120,155 shares during the period. Vanguard Group Inc. increased its stake in shares of Construction Partners by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 2,415,461 shares of the company’s stock valued at $135,628,000 after purchasing an additional 69,223 shares during the last quarter. State Street Corp raised its holdings in shares of Construction Partners by 2.7% during the 3rd quarter. State Street Corp now owns 1,004,867 shares of the company’s stock worth $70,140,000 after buying an additional 26,189 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Construction Partners by 2.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 972,400 shares of the company’s stock worth $53,687,000 after buying an additional 24,828 shares during the last quarter. Finally, American Century Companies Inc. grew its position in Construction Partners by 8.0% in the second quarter. American Century Companies Inc. now owns 949,123 shares of the company’s stock valued at $52,401,000 after acquiring an additional 70,099 shares during the last quarter. 94.83% of the stock is owned by institutional investors and hedge funds.

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.