Construction Partners, Inc. (NASDAQ:ROAD) Stock Has Consensus Price Target of $116.83 According to Analysts

Shares of Construction Partners, Inc. (NASDAQ:ROAD) have been given a consensus rating of “Moderate Buy” by the eight research firms that are presently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $116.83.

Several equities research analysts have recently issued reports on the stock. Robert W. Baird lowered their target price 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. Zacks Research downgraded shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 16th. Raymond James Financial reissued a “strong-buy” rating and issued a $125.00 price objective on shares of Construction Partners in a research note on Friday, November 6th. Truist Financial dropped their target price on Construction Partners from $130.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, November 6th. Finally, B. Riley Financial cut their target price on Construction Partners from $135.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday.

Construction Partners Trading Up 2.9%

Shares of NASDAQ ROAD opened at $84.03 on Thursday. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.57 and a quick ratio of 1.26. The business’s 50 day moving average is $90.43 and its two-hundred day moving average is $109.91. The stock has a market capitalization of $4.77 billion, a P/E ratio of 32.95, a PEG ratio of 0.68 and a beta of 0.94. Construction Partners has a 1-year low of $74.51 and a 1-year high of $151.00.

Institutional Trading of Construction Partners

Several institutional investors and hedge funds have recently made changes to their positions in ROAD. Bank of New York Mellon Corp bought a new position in shares of Construction Partners in the second quarter worth about $78,248,000. First Trust Advisors LP raised its stake in shares of Construction Partners by 29.6% during the first quarter. First Trust Advisors LP now owns 1,030,378 shares of the company’s stock valued at $114,496,000 after acquiring an additional 235,616 shares in the last quarter. Public Sector Pension Investment Board purchased a new stake in shares of Construction Partners in the third quarter valued at approximately $17,326,000. Van Berkom & Associates Inc. boosted its holdings in shares of Construction Partners by 45.5% in the third quarter. Van Berkom & Associates Inc. now owns 606,302 shares of the company’s stock valued at $54,585,000 after purchasing an additional 189,576 shares during the period. Finally, Wasatch Advisors LP grew its stake in Construction Partners by 20.6% in the second quarter. Wasatch Advisors LP now owns 1,008,474 shares of the company’s stock worth $119,776,000 after purchasing an additional 172,034 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors.

About Construction Partners

Construction Partners, Inc. is a civil infrastructure company that builds and maintains roads, highways, and other transportation-related projects. Its services include roadway paving, site development, milling and resurfacing, and related construction work for public and private customers. The company also produces and supplies materials used in its projects, including hot-mix asphalt and aggregates. Its vertically integrated operations combine construction services with materials production and distribution.