Construction Partners, Inc. (NASDAQ:ROAD) Stock Has Average Target Price of $132.67

Construction Partners, Inc. (NASDAQ:ROAD) has been assigned an average recommendation of “Moderate Buy” from the eight research firms that are currently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $132.67.

Several equities research analysts have commented on ROAD shares. Raymond James Financial cut their price objective on Construction Partners from $150.00 to $145.00 and set a “strong-buy” rating for the company in a research note on Friday, October 16th. Weiss Ratings lowered shares of Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, September 17th. Zacks Research lowered Construction Partners from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 16th. Finally, Robert W. Baird reduced their price objective on Construction Partners from $145.00 to $141.00 and set an “outperform” rating on the stock in a research note on Monday, August 10th.

Hedge Funds Weigh In On Construction Partners

Hedge funds have recently added to or reduced their stakes in the stock. Harbor Investment Advisory LLC acquired a new stake in Construction Partners during the 1st quarter worth $39,000. Hollencrest Capital Management purchased a new stake in Construction Partners in the 1st quarter valued at approximately $39,000. USA Financial Formulas purchased a new position in Construction Partners in the third quarter worth $40,000. Jones Financial Companies Lllp purchased a new stake in shares of Construction Partners during the 2nd quarter worth approximately $63,000. Finally, Integrated Wealth Concepts LLC acquired a new position in Construction Partners during the second quarter worth about $90,000. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Construction Partners Trading Down 1.2%

Shares of Construction Partners stock opened at $83.93 on Friday. 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 12-month low of $79.33 and a 12-month high of $151.00. The firm has a market capitalization of $4.76 billion, a price-to-earnings ratio of 32.91, a PEG ratio of 0.64 and a beta of 0.93. The firm’s 50 day simple moving average is $97.48 and its two-hundred day simple moving average is $108.33.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings results on Friday, August 7th. The company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.07. Construction Partners had a net margin of 4.10% and a return on equity of 16.06%. The company had revenue of $999.42 million for the quarter, compared to the consensus estimate of $948.77 million. During the same quarter in the prior year, the company earned $0.81 EPS. Construction Partners’s quarterly revenue was up 28.2% on a year-over-year basis. Analysts predict that Construction Partners will post 3.04 EPS for the current year.

Construction Partners Company Profile

Construction Partners, Inc (NASDAQ:ROAD) is a civil infrastructure company that builds and maintains transportation and other public infrastructure in the United States. The company primarily serves public-sector customers, including state and local governments, as well as private-sector customers involved in residential, commercial and industrial development.

Its services include asphalt production and paving, roadway construction, milling, maintenance and repair, site development, utility installation and related infrastructure work.