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

Shares of Construction Partners, Inc. (NASDAQ:ROAD) have received a consensus recommendation of “Moderate Buy” from the eight brokerages that are currently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $132.67.

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

Institutional Investors Weigh In On Construction Partners

A number of hedge funds have recently made changes to their positions in the stock. Harbor Investment Advisory LLC purchased a new position in Construction Partners during the 1st quarter worth $39,000. Hollencrest Capital Management purchased a new stake in Construction Partners in the first quarter valued at about $39,000. USA Financial Formulas acquired a new stake in Construction Partners in the third quarter worth about $40,000. Signaturefd LLC boosted its holdings in Construction Partners by 78.0% in the third quarter. Signaturefd LLC now owns 470 shares of the company’s stock worth $42,000 after acquiring an additional 206 shares in the last quarter. Finally, Jones Financial Companies Lllp acquired a new stake in Construction Partners in the second quarter worth about $63,000. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Construction Partners Stock Performance

Construction Partners stock opened at $83.04 on Friday. The stock’s 50 day simple moving average is $96.71 and its two-hundred day simple moving average is $108.16. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.26 and a current ratio of 1.57. The stock has a market cap of $4.71 billion, a price-to-earnings ratio of 32.56, a PEG ratio of 0.62 and a beta of 0.93. Construction Partners has a fifty-two week low of $79.33 and a fifty-two week high of $151.00.

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

About Construction Partners

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.