Construction Partners (NASDAQ:ROAD) Reaches New 52-Week High – Still a Buy?

Shares of Construction Partners, Inc. (NASDAQ:ROAD) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $141.90 and last traded at $141.0790, with a volume of 265299 shares. The stock had previously closed at $134.21.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ROAD shares. DA Davidson raised their target price on Construction Partners from $120.00 to $130.00 and gave the company a “neutral” rating in a research report on Friday, February 6th. Raymond James Financial restated a “strong-buy” rating and issued a $135.00 price objective (up previously from $120.00) on shares of Construction Partners in a report on Tuesday, October 21st. B. Riley Financial assumed coverage on shares of Construction Partners in a research report on Thursday, January 15th. They set a “neutral” rating and a $117.00 price target on the stock. Bank of America dropped their target price on Construction Partners from $120.00 to $115.00 and set a “buy” rating for the company in a report on Friday, November 21st. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Construction Partners in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $127.80.

Construction Partners Trading Down 0.6%

The firm has a market capitalization of $7.57 billion, a price-to-earnings ratio of 60.88, a PEG ratio of 1.26 and a beta of 0.87. The business’s 50-day simple moving average is $114.29 and its two-hundred day simple moving average is $115.13. The company has a quick ratio of 1.34, a current ratio of 1.59 and a debt-to-equity ratio of 1.76.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings data on Thursday, February 5th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.31 by $0.16. The firm had revenue of $809.47 million for the quarter, compared to analyst estimates of $740.14 million. Construction Partners had a net margin of 3.99% and a return on equity of 15.26%. The business’s revenue for the quarter was up 44.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.25 EPS. Equities analysts forecast that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

Institutional Investors Weigh In On Construction Partners

A number of institutional investors have recently modified their holdings of ROAD. AQR Capital Management LLC lifted 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 worth $743,000 after acquiring an additional 1,302 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Construction Partners by 11.2% during 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 purchasing an additional 9,656 shares during the period. Intech Investment Management LLC lifted its position 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 worth $1,746,000 after purchasing an additional 2,482 shares in the last quarter. Strs Ohio purchased a new position in shares of Construction Partners in the first quarter valued at approximately $165,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in shares of Construction Partners in the second quarter valued at approximately $542,000. 94.83% of the stock is 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.