Brokerages Set Construction Partners, Inc. (NASDAQ:ROAD) Price Target at $127.80
by Jessica Moore · The Cerbat GemConstruction Partners, Inc. (NASDAQ:ROAD – Get Free Report) has earned an average recommendation of “Buy” from the seven brokerages that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $131.40.
Several research analysts have recently weighed in on ROAD shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Construction Partners in a research report on Monday, December 29th. Robert W. Baird set a $142.00 target price on shares of Construction Partners in a research note on Friday, February 6th. DA Davidson boosted their target price on shares of Construction Partners from $120.00 to $130.00 and gave the company a “neutral” rating in a report on Friday, February 6th. Zacks Research raised shares of Construction Partners from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 29th. Finally, B. Riley Financial upgraded shares of Construction Partners from a “neutral” rating to a “buy” rating and raised their price target for the stock from $117.00 to $135.00 in a report on Thursday.
Read Our Latest Stock Report on ROAD
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in ROAD. Hsbc Holdings PLC lifted its stake in shares of Construction Partners by 191.7% in the 4th quarter. Hsbc Holdings PLC now owns 16,344 shares of the company’s stock valued at $1,787,000 after purchasing an additional 10,741 shares during the last quarter. Rockefeller Capital Management L.P. grew its holdings in shares of Construction Partners by 4.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 7,518 shares of the company’s stock worth $816,000 after purchasing an additional 352 shares during the period. Invesco Ltd. increased its position in shares of Construction Partners by 23.7% during the 4th quarter. Invesco Ltd. now owns 1,481,914 shares of the company’s stock worth $160,862,000 after purchasing an additional 284,082 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its position in shares of Construction Partners by 16.5% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 3,092 shares of the company’s stock worth $336,000 after purchasing an additional 437 shares during the last quarter. Finally, Zimmer Partners LP purchased a new stake in Construction Partners in the 4th quarter valued at about $13,026,000. 94.83% of the stock is currently owned by hedge funds and other institutional investors.
Construction Partners Price Performance
NASDAQ:ROAD opened at $105.89 on Wednesday. Construction Partners has a one year low of $64.79 and a one year high of $141.90. The stock has a market cap of $5.98 billion, a PE ratio of 48.13, a P/E/G ratio of 0.93 and a beta of 0.92. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.26 and a current ratio of 1.59. The stock has a 50 day moving average price of $121.46 and a 200 day moving average price of $116.96.
Construction Partners (NASDAQ:ROAD – Get Free Report) last released its quarterly earnings data on Thursday, February 5th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.16. The company had revenue of $809.47 million for the quarter, compared to analyst estimates of $740.14 million. Construction Partners had a return on equity of 15.26% and a net margin of 3.99%.The firm’s revenue for the quarter was up 44.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 earnings per share. Equities research analysts expect that Construction Partners will post 1.96 EPS for the current fiscal year.
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.