Construction Partners, Inc. (NASDAQ:ROAD) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Construction Partners, Inc. (NASDAQ:ROAD) have earned an average rating of “Moderate Buy” from the seven brokerages that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $137.80.

Several research analysts have recently issued reports on ROAD shares. Robert W. Baird upped their target price on shares of Construction Partners from $129.00 to $169.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Zacks Research cut shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Weiss Ratings downgraded Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday. Raymond James Financial reissued a “strong-buy” rating and issued a $140.00 target price on shares of Construction Partners in a report on Monday, April 27th. Finally, B. Riley Financial raised Construction Partners from a “neutral” rating to a “buy” rating and boosted their target price for the company from $117.00 to $135.00 in a report on Thursday, April 2nd.

Construction Partners Trading Up 1.1%

ROAD opened at $116.29 on Thursday. Construction Partners has a one year low of $93.22 and a one year high of $151.00. The company has a market cap of $6.57 billion, a P/E ratio of 51.00, a PEG ratio of 0.96 and a beta of 0.92. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.21 and a current ratio of 1.53. The business’s 50-day simple moving average is $117.26 and its 200-day simple moving average is $116.35.

Construction Partners (NASDAQ:ROAD) last issued its earnings results on Friday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.23. Construction Partners had a net margin of 3.90% and a return on equity of 15.22%. The business had revenue of $769.20 million during the quarter, compared to analysts’ expectations of $678.46 million. During the same quarter in the prior year, the business posted $0.08 EPS. The company’s revenue for the quarter was up 34.6% on a year-over-year basis. As a group, equities research analysts expect that Construction Partners will post 2.95 EPS for the current fiscal year.

Institutional Trading of Construction Partners

Institutional investors and hedge funds have recently made changes to their positions in the company. Janus Henderson Group PLC increased its holdings in shares of Construction Partners by 11.5% in the 1st quarter. Janus Henderson Group PLC now owns 22,367 shares of the company’s stock valued at $2,488,000 after acquiring an additional 2,300 shares during the period. Amundi acquired a new position in shares of Construction Partners in the 1st quarter valued at $392,000. California State Teachers Retirement System increased its holdings in shares of Construction Partners by 23.8% in the 1st quarter. California State Teachers Retirement System now owns 55,972 shares of the company’s stock valued at $6,220,000 after acquiring an additional 10,759 shares during the period. Empowered Funds LLC acquired a new position in shares of Construction Partners in the 1st quarter valued at $292,000. Finally, Engle Capital Management L.P. increased its holdings in shares of Construction Partners by 10.8% in the 1st quarter. Engle Capital Management L.P. now owns 205,000 shares of the company’s stock valued at $22,780,000 after acquiring an additional 20,000 shares during the period. 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.