Construction Partners (NASDAQ:ROAD) Raised to “Hold” at B. Riley

Construction Partners (NASDAQ:ROAD) was upgraded by B. Riley to a “hold” rating in a research report issued on Thursday, MarketBeat.com reports.

Several other equities research analysts also recently weighed in on the stock. DA Davidson reissued a “neutral” rating and issued a $120.00 target price on shares of Construction Partners in a research note on Friday, November 21st. Raymond James Financial reiterated a “strong-buy” rating and set a $135.00 price target (up from $120.00) on shares of Construction Partners in a report on Tuesday, October 21st. Robert W. Baird decreased their price objective on shares of Construction Partners from $131.00 to $124.00 and set an “outperform” rating for the company in a research note on Friday, November 21st. Zacks Research lowered Construction Partners from a “hold” rating to a “strong sell” rating in a research report on Monday, January 12th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Construction Partners in a research note on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.20.

Construction Partners Price Performance

Shares of Construction Partners stock opened at $114.42 on Thursday. The stock has a market cap of $6.47 billion, a price-to-earnings ratio of 62.52, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.34 and a current ratio of 1.61. The stock has a 50 day moving average price of $109.24 and a 200-day moving average price of $113.25. Construction Partners has a one year low of $64.79 and a one year high of $138.90.

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

Hedge Funds Weigh In On Construction Partners

A number of institutional investors have recently modified their holdings of ROAD. TD Waterhouse Canada Inc. bought a new stake in shares of Construction Partners during the third quarter valued at approximately $25,000. AlphaQuest LLC increased its holdings in Construction Partners by 292.5% during the 3rd quarter. AlphaQuest LLC now owns 208 shares of the company’s stock worth $26,000 after purchasing an additional 155 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Construction Partners by 2,750.0% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 285 shares of the company’s stock worth $30,000 after buying an additional 275 shares during the period. Morse Asset Management Inc lifted its holdings in shares of 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 during the period. Finally, Danske Bank A S bought a new position in shares of Construction Partners during the 3rd quarter worth $38,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

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.