Construction Partners (NASDAQ:ROAD) Stock Price Up 7.1% – What’s Next?

Construction Partners, Inc. (NASDAQ:ROAD)’s stock price was up 7.1% during mid-day trading on Friday . The company traded as high as $112.48 and last traded at $113.2310. Approximately 147,381 shares traded hands during trading, a decline of 73% from the average daily volume of 549,324 shares. The stock had previously closed at $105.70.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ROAD shares. B. Riley Financial raised Construction Partners from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $117.00 to $135.00 in a report on Thursday, April 2nd. Raymond James Financial reaffirmed a “strong-buy” rating and set a $140.00 target price on shares of Construction Partners in a report on Monday, April 27th. Zacks Research downgraded shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Weiss Ratings downgraded shares of Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Finally, Truist Financial assumed coverage on shares of Construction Partners in a report on Wednesday, June 3rd. They issued a “hold” rating and a $130.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $136.50.

Construction Partners Trading Up 7.7%

The firm has a market cap of $6.43 billion, a price-to-earnings ratio of 49.91, a PEG ratio of 0.87 and a beta of 0.88. The company has a 50-day moving average price of $117.23 and a 200 day moving average price of $116.67. 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 earnings results on Friday, May 8th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.23. The business had revenue of $769.20 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the firm posted $0.08 earnings per share. As a group, research analysts anticipate that Construction Partners, Inc. will post 2.95 earnings per share for the current fiscal year.

Institutional Trading of Construction Partners

Several hedge funds and other institutional investors have recently modified their holdings of the business. AlphaQuest LLC lifted its position in Construction Partners by 292.5% in the 3rd quarter. AlphaQuest LLC now owns 208 shares of the company’s stock worth $26,000 after buying an additional 155 shares in the last quarter. Morse Asset Management Inc lifted its position in Construction Partners by 300.0% in the 3rd quarter. Morse Asset Management Inc now owns 240 shares of the company’s stock worth $30,000 after buying an additional 180 shares in the last quarter. Danske Bank A S purchased a new stake in Construction Partners in the 3rd quarter worth approximately $38,000. Harbor Investment Advisory LLC purchased a new stake in Construction Partners in the 1st quarter worth approximately $39,000. Finally, Hollencrest Capital Management purchased a new stake in Construction Partners in the 1st quarter worth approximately $39,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

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.