Construction Partners (NASDAQ:ROAD) Stock Price Target Lowered at B. Riley Financial

Construction Partners (NASDAQ:ROAD) had its price target decreased by investment analysts at B. Riley Financial from $135.00 to $100.00 in a research note issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. B. Riley Financial‘s price objective indicates a potential upside of 22.23% from the stock’s current price.

A number of other research firms have also recently weighed in on ROAD. Zacks Research cut Construction Partners from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 16th. Robert W. Baird dropped their target price on Construction Partners from $145.00 to $141.00 and set an “outperform” rating on the stock in a report on Monday, August 10th. Weiss Ratings lowered Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, September 17th. Raymond James Financial restated a “strong-buy” rating and set a $125.00 price target on shares of Construction Partners in a research note on Friday. Finally, Truist Financial decreased their price target on Construction Partners from $130.00 to $90.00 and set a “hold” rating for the company in a report on Friday. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $116.83.

Construction Partners Stock Performance

Shares of NASDAQ ROAD traded up $4.63 during midday trading on Monday, reaching $81.81. 86,035 shares of the company were exchanged, compared to its average volume of 678,362. The company has a current ratio of 1.57, a quick ratio of 1.26 and a debt-to-equity ratio of 1.68. Construction Partners has a 1 year low of $74.51 and a 1 year high of $151.00. The stock has a fifty day simple moving average of $91.75 and a 200 day simple moving average of $110.34. The stock has a market cap of $4.64 billion, a P/E ratio of 32.23, a PEG ratio of 0.58 and a beta of 0.94.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings data on Friday, August 7th. The company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.01 by $0.07. The firm had revenue of $999.42 million during the quarter, compared to the consensus estimate of $948.77 million. Construction Partners had a return on equity of 16.06% and a net margin of 4.10%. The firm’s revenue was up 28.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.81 EPS. On average, research analysts forecast that Construction Partners will post 2.93 earnings per share for the current fiscal year.

Institutional Trading of Construction Partners

Several hedge funds and other institutional investors have recently made changes to their positions in ROAD. First Trust Advisors LP increased its stake in shares of Construction Partners by 29.6% during the first quarter. First Trust Advisors LP now owns 1,030,378 shares of the company’s stock worth $114,496,000 after acquiring an additional 235,616 shares during the period. Wasatch Advisors LP raised its holdings in Construction Partners by 20.6% during the second 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. Allspring Global Investments Holdings LLC lifted its position in Construction Partners by 19.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 967,350 shares of the company’s stock valued at $109,214,000 after purchasing an additional 156,469 shares during the period. Bank of New York Mellon Corp acquired a new stake in Construction Partners in the second quarter valued at about $78,248,000. Finally, Van Berkom & Associates Inc. lifted its position in Construction Partners by 45.5% in the third quarter. Van Berkom & Associates Inc. now owns 606,302 shares of the company’s stock valued at $54,585,000 after purchasing an additional 189,576 shares during the period. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Construction Partners Company Profile

Construction Partners, Inc is a civil infrastructure company that builds and maintains roads, highways, and other transportation-related projects. Its services include roadway paving, site development, milling and resurfacing, and related construction work for public and private customers.

The company also produces and supplies materials used in its projects, including hot-mix asphalt and aggregates. Its vertically integrated operations combine construction services with materials production and distribution.

Founded in 2007 and headquartered in Dothan, Alabama, Construction Partners operates across the southeastern United States and in Texas.