Construction Partners (NASDAQ:ROAD) Rating Increased to Strong-Buy at Zacks Research

Construction Partners (NASDAQ:ROAD) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “strong-buy” rating in a research note issued on Thursday,Zacks.com reports.

Several other equities analysts also recently issued reports on the stock. Robert W. Baird reduced their price target on shares of Construction Partners from $131.00 to $124.00 and set an “outperform” rating for the company in a report on Friday, November 21st. Bank of America cut their price objective on shares of Construction Partners from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, November 21st. Raymond James Financial restated a “strong-buy” rating and issued a $135.00 target price (up previously from $120.00) on shares of Construction Partners in a research report on Tuesday, October 21st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Construction Partners in a report on Monday, December 29th. Finally, B. Riley began coverage on Construction Partners in a research report on Thursday, January 15th. They set a “neutral” rating and a $117.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Construction Partners has a consensus rating of “Moderate Buy” and an average target price of $122.20.

Construction Partners Stock Performance

Shares of ROAD stock opened at $109.88 on Thursday. The company has a market cap of $6.21 billion, a P/E ratio of 60.04, a PEG ratio of 1.06 and a beta of 0.87. The business has a 50 day moving average of $110.35 and a two-hundred day moving average of $113.76. Construction Partners has a 52 week low of $64.79 and a 52 week high of $138.90. The company has a quick ratio of 1.34, a current ratio of 1.61 and a debt-to-equity ratio of 1.73.

Construction Partners (NASDAQ:ROAD) last announced 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 company had revenue of $899.85 million during the quarter, compared to the consensus estimate of $896.17 million. During the same period last year, the business posted $0.56 EPS. The company’s revenue for the quarter was up 67.2% on a year-over-year basis. As a group, analysts anticipate that Construction Partners will post 1.96 EPS for the current year.

Hedge Funds Weigh In On Construction Partners

Hedge funds have recently modified their holdings of the company. Atria Investments Inc grew its stake in Construction Partners by 5.5% in the second quarter. Atria Investments Inc now owns 16,129 shares of the company’s stock valued at $1,714,000 after purchasing an additional 835 shares in the last quarter. Castleark Management LLC acquired a new stake in shares of Construction Partners in the second quarter worth about $5,386,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Construction Partners during the 2nd quarter worth about $542,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Construction Partners during the 2nd quarter valued at about $344,000. Finally, Janney Montgomery Scott LLC bought a new position in shares of Construction Partners in the 2nd quarter valued at approximately $802,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Construction Partners Company Profile

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.