Imperial Capital reaffirmed their outperform rating on shares of Construction Partners (NASDAQ:ROAD) in a research report report published on Thursday morning, Briefing.com Automated Import reports. The brokerage currently has a $17.25 price objective on the stock, up from their previous price objective of $15.50.
ROAD has been the subject of a number of other research reports. Raymond James upped their target price on Construction Partners from $15.00 to $16.50 and gave the stock a strong-buy rating in a report on Monday, August 12th. ValuEngine cut Construction Partners from a hold rating to a sell rating in a report on Thursday, August 8th. Finally, Zacks Investment Research raised Construction Partners from a hold rating to a strong-buy rating and set a $17.00 target price for the company in a report on Wednesday. One investment analyst has rated the stock with a sell rating, two have given a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $16.44.
Shares of ROAD opened at $14.75 on Thursday. Construction Partners has a 12-month low of $7.70 and a 12-month high of $15.84. The business has a 50-day simple moving average of $14.59 and a two-hundred day simple moving average of $13.10. The company has a quick ratio of 1.75, a current ratio of 1.97 and a debt-to-equity ratio of 0.11. The stock has a market cap of $744.21 million, a PE ratio of 18.00, a PEG ratio of 1.71 and a beta of 1.96.
A number of institutional investors and hedge funds have recently modified their holdings of ROAD. Strs Ohio bought a new stake in shares of Construction Partners in the 2nd quarter valued at about $48,000. Bank of Montreal Can bought a new stake in shares of Construction Partners in the 2nd quarter valued at about $50,000. Acadian Asset Management LLC bought a new stake in shares of Construction Partners in the 2nd quarter valued at about $56,000. JPMorgan Chase & Co. bought a new stake in shares of Construction Partners in the 2nd quarter valued at about $66,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Construction Partners in the 2nd quarter valued at about $170,000. 21.68% of the stock is owned by institutional investors and hedge funds.
About Construction Partners
Construction Partners, Inc, an infrastructure and road construction company, provides construction products and services to public and private sectors. It offers construction of highways, roads, bridges, airports, and commercial and residential sites. The company provides a range of sitework construction services, including site development, paving, and utility and drainage systems construction, as well as supplies hot mix asphalt required for the projects.
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