Analysts Set Construction Partners, Inc. (NASDAQ:ROAD) Target Price at $132.50

Shares of Construction Partners, Inc. (NASDAQ:ROAD) have been given an average recommendation of “Moderate Buy” by the eight brokerages that are currently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $134.1667.

Several analysts have issued reports on the stock. Zacks Research raised shares of Construction Partners from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. Robert W. Baird dropped their price objective on shares of Construction Partners from $169.00 to $145.00 and set an “outperform” rating for the company in a research note on Wednesday, July 1st. B. Riley Financial upgraded Construction Partners from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $117.00 to $135.00 in a research report on Thursday, April 2nd. Truist Financial began coverage on Construction Partners in a research note on Wednesday, June 3rd. They issued a “hold” rating and a $130.00 target price on the stock. Finally, Weiss Ratings cut Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th.

Construction Partners Trading Down 1.4%

Shares of ROAD stock opened at $102.41 on Friday. Construction Partners has a fifty-two week low of $93.22 and a fifty-two week high of $151.00. The stock has a market cap of $5.79 billion, a P/E ratio of 44.92, a P/E/G ratio of 0.87 and a beta of 0.88. The business has a fifty day simple moving average of $114.25 and a 200-day simple moving average of $117.41. 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 released its quarterly earnings data on Friday, May 8th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.23. Construction Partners had a net margin of 3.90% and a return on equity of 15.22%. The business had revenue of $769.20 million for the quarter, compared to analyst estimates of $678.46 million. During the same period in the previous year, the firm earned $0.08 EPS. The business’s revenue for the quarter was up 34.6% compared to the same quarter last year. On average, analysts forecast that Construction Partners will post 2.95 earnings per share for the current fiscal year.

Institutional Trading of Construction Partners

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wasatch Advisors LP increased its position in Construction Partners by 20.6% during the 2nd quarter. Wasatch Advisors LP now owns 1,008,474 shares of the company’s stock worth $119,776,000 after purchasing an additional 172,034 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in Construction Partners by 9.5% in the 2nd quarter. Handelsbanken Fonder AB now owns 16,100 shares of the company’s stock valued at $1,912,000 after purchasing an additional 1,400 shares in the last quarter. Revolve Wealth Partners LLC purchased a new position in Construction Partners in the 2nd quarter valued at about $302,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Construction Partners by 30.7% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,391 shares of the company’s stock valued at $403,000 after purchasing an additional 797 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Construction Partners by 29.5% during the 2nd quarter. GAMMA Investing LLC now owns 3,824 shares of the company’s stock worth $454,000 after purchasing an additional 872 shares during the last quarter. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

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.