Construction Partners (NASDAQ:ROAD) Coverage Initiated by Analysts at Truist Financial

Truist Financial started coverage on shares of Construction Partners (NASDAQ:ROAD) in a note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage set a “hold” rating and a $130.00 price target on the stock. Truist Financial’s target price indicates a potential upside of 16.67% from the stock’s previous close.

A number of other analysts also recently issued reports on the company. DA Davidson raised their price target on Construction Partners from $120.00 to $130.00 and gave the stock a “neutral” rating in a research report on Friday, February 6th. B. Riley Financial upgraded Construction Partners from a “neutral” rating to a “buy” rating and increased their target price for the stock from $117.00 to $135.00 in a research note on Thursday, April 2nd. Weiss Ratings lowered Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Raymond James Financial reiterated a “strong-buy” rating and issued a $140.00 target price on shares of Construction Partners in a research note on Monday, April 27th. Finally, Zacks Research lowered Construction Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Construction Partners has a consensus rating of “Moderate Buy” and a consensus price target of $136.50.

Construction Partners Stock Down 2.9%

Shares of ROAD opened at $111.43 on Wednesday. The company has a market cap of $6.30 billion, a PE ratio of 48.87, a P/E/G ratio of 0.96 and a beta of 0.88. The business has a fifty day moving average of $117.32 and a 200 day moving average of $116.46. Construction Partners has a 52-week low of $93.22 and a 52-week high of $151.00. The company has a quick ratio of 1.21, a current ratio of 1.53 and a debt-to-equity ratio of 1.75.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings results on Friday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.23. The company had revenue of $769.20 million during the quarter, compared to the consensus estimate of $678.46 million. Construction Partners had a return on equity of 15.22% and a net margin of 3.90%.Construction Partners’s revenue was up 34.6% on a year-over-year basis. During the same period last year, the company earned $0.08 earnings per share. On average, sell-side analysts expect that Construction Partners will post 2.95 EPS for the current year.

Institutional Trading of Construction Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of ROAD. Capital World Investors increased its stake in shares of Construction Partners by 97.5% during the fourth quarter. Capital World Investors now owns 856,696 shares of the company’s stock valued at $92,994,000 after buying an additional 423,033 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Construction Partners during the fourth quarter valued at $42,518,000. Invesco Ltd. increased its stake in shares of Construction Partners by 23.7% during the fourth quarter. Invesco Ltd. now owns 1,481,914 shares of the company’s stock valued at $160,862,000 after buying an additional 284,082 shares during the period. First Trust Advisors LP increased its stake in shares of Construction Partners by 33.2% during the third quarter. First Trust Advisors LP now owns 1,059,566 shares of the company’s stock valued at $134,565,000 after buying an additional 264,069 shares during the period. Finally, Fifth Third Bancorp increased its stake in shares of Construction Partners by 30,525.8% during the first quarter. Fifth Third Bancorp now owns 239,800 shares of the company’s stock valued at $26,647,000 after buying an additional 239,017 shares during the period. Hedge funds and other institutional investors own 94.83% of the company’s stock.

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.