Construction Partners (NASDAQ:ROAD) Trading Up 6.9% After Earnings Beat

Construction Partners, Inc. (NASDAQ:ROAD)’s stock price traded up 6.9% during mid-day trading on Thursday following a better than expected earnings announcement. The stock traded as high as $123.65 and last traded at $122.6350. 552,061 shares changed hands during trading, an increase of 22% from the average session volume of 452,357 shares. The stock had previously closed at $114.77.

The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.16. Construction Partners had a net margin of 3.62% and a return on equity of 14.42%. Construction Partners’s revenue was up 44.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.25 EPS.

Analyst Ratings Changes

A number of equities analysts have issued reports on ROAD shares. Bank of America decreased their price target on Construction Partners from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, November 21st. DA Davidson reaffirmed a “neutral” rating and set a $120.00 target price on shares of Construction Partners in a research note on Friday, November 21st. Robert W. Baird dropped their price target on shares of Construction Partners from $131.00 to $124.00 and set an “outperform” rating on the stock in a research report on Friday, November 21st. Weiss Ratings restated a “hold (c+)” rating on shares of Construction Partners in a research report on Monday, December 29th. Finally, Zacks Research upgraded shares of Construction Partners from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 29th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $122.20.

Hedge Funds Weigh In On Construction Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its stake in Construction Partners by 14.4% during the 1st quarter. AQR Capital Management LLC now owns 10,333 shares of the company’s stock valued at $743,000 after purchasing an additional 1,302 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Construction Partners by 11.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 96,191 shares of the company’s stock worth $6,913,000 after buying an additional 9,656 shares during the period. Intech Investment Management LLC grew its holdings in shares of Construction Partners by 11.4% during the first quarter. Intech Investment Management LLC now owns 24,292 shares of the company’s stock valued at $1,746,000 after buying an additional 2,482 shares in the last quarter. Strs Ohio acquired a new position in Construction Partners during the first quarter valued at $165,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Construction Partners during the second quarter valued at $344,000. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Construction Partners Stock Up 6.9%

The firm has a 50-day moving average of $110.93 and a two-hundred day moving average of $113.93. The stock has a market capitalization of $6.94 billion, a price-to-earnings ratio of 67.06, a price-to-earnings-growth ratio of 1.11 and a beta of 0.87. The company has a quick ratio of 1.34, a current ratio of 1.61 and a debt-to-equity ratio of 1.73.

Construction Partners Company Profile

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.