Brokerages Set Construction Partners, Inc. (NASDAQ:ROAD) Target Price at $123.50

Shares of Construction Partners, Inc. (NASDAQ:ROAD) have been given an average rating of “Moderate Buy” by the seven brokerages that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $123.50.

A number of equities research analysts have recently issued reports on the stock. Zacks Research cut shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Raymond James Financial reissued a “strong-buy” rating and set a $135.00 price target (up previously from $120.00) on shares of Construction Partners in a research report on Tuesday, October 21st. DA Davidson reaffirmed a “neutral” rating and issued a $120.00 price objective on shares of Construction Partners in a research report on Friday, November 21st. Bank of America reduced their target price on Construction Partners from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, November 21st. Finally, Robert W. Baird decreased their target price on Construction Partners from $131.00 to $124.00 and set an “outperform” rating on the stock in a report on Friday, November 21st.

Hedge Funds Weigh In On Construction Partners

Several large investors have recently modified their holdings of ROAD. MAI Capital Management lifted its stake in shares of Construction Partners by 21.7% during the 3rd quarter. MAI Capital Management now owns 505 shares of the company’s stock worth $64,000 after buying an additional 90 shares during the last quarter. Handelsbanken Fonder AB grew its stake in Construction Partners by 0.8% in the 2nd quarter. Handelsbanken Fonder AB now owns 12,000 shares of the company’s stock valued at $1,275,000 after buying an additional 100 shares during the last quarter. Ameritas Investment Partners Inc. raised its holdings in Construction Partners by 2.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,794 shares of the company’s stock valued at $510,000 after acquiring an additional 118 shares during the period. GAMMA Investing LLC lifted its position in Construction Partners by 10.7% during the third quarter. GAMMA Investing LLC now owns 1,288 shares of the company’s stock worth $164,000 after acquiring an additional 124 shares during the last quarter. Finally, Byrne Asset Management LLC lifted its position in Construction Partners by 41.7% during the third quarter. Byrne Asset Management LLC now owns 425 shares of the company’s stock worth $54,000 after acquiring an additional 125 shares during the last quarter. 94.83% of the stock is owned by institutional investors.

Construction Partners Price Performance

NASDAQ:ROAD opened at $113.07 on Monday. The stock has a market capitalization of $6.39 billion, a PE ratio of 61.79, a P/E/G ratio of 1.07 and a beta of 0.88. Construction Partners has a 1-year low of $64.79 and a 1-year high of $138.90. The firm has a fifty day simple moving average of $110.15 and a 200 day simple moving average of $112.48. The company has a current ratio of 1.61, a quick ratio of 1.34 and a debt-to-equity ratio of 1.73.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings results on Thursday, November 20th. The company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.04). Construction Partners had a return on equity of 14.42% and a net margin of 3.62%.The firm had revenue of $899.85 million for the quarter, compared to the consensus estimate of $896.17 million. During the same period last year, the company posted $0.56 earnings per share. The business’s revenue was up 67.2% compared to the same quarter last year. On average, research analysts expect that Construction Partners will post 1.96 EPS for the current fiscal year.

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.