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

Shares of Construction Partners, Inc. (NASDAQ:ROAD – Get Rating) have earned a consensus rating of “Buy” from the six analysts that are currently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $31.25.

Several brokerages have recently weighed in on ROAD. Robert W. Baird decreased their target price on shares of Construction Partners from $30.00 to $26.00 and set an “outperform” rating for the company in a research note on Friday, July 8th. Sidoti began coverage on shares of Construction Partners in a research note on Wednesday, June 1st. They issued a “buy” rating for the company. Finally, Raymond James upgraded shares of Construction Partners from an “outperform” rating to a “strong-buy” rating and decreased their target price for the company from $30.00 to $25.00 in a research note on Wednesday, May 11th.

Insider Activity at Construction Partners

In related news, SVP John L. Harper purchased 30,000 shares of the business’s stock in a transaction that occurred on Thursday, May 12th. The shares were purchased at an average cost of $20.94 per share, with a total value of $628,200.00. Following the completion of the acquisition, the senior vice president now directly owns 15,000 shares of the company’s stock, valued at approximately $314,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 24.35% of the stock is currently owned by corporate insiders.

Institutional Trading of Construction Partners

A number of institutional investors and hedge funds have recently modified their holdings of ROAD. Conestoga Capital Advisors LLC increased its holdings in shares of Construction Partners by 0.9% in the 1st quarter. Conestoga Capital Advisors LLC now owns 5,386,003 shares of the company’s stock worth $141,006,000 after acquiring an additional 47,060 shares during the period. BlackRock Inc. increased its holdings in shares of Construction Partners by 23.2% in the 1st quarter. BlackRock Inc. now owns 2,655,171 shares of the company’s stock worth $69,511,000 after acquiring an additional 500,697 shares during the period. Geneva Capital Management LLC increased its holdings in shares of Construction Partners by 1.7% in the 1st quarter. Geneva Capital Management LLC now owns 2,328,472 shares of the company’s stock worth $60,959,000 after acquiring an additional 39,546 shares during the period. Invesco Ltd. increased its holdings in shares of Construction Partners by 2.4% in the 1st quarter. Invesco Ltd. now owns 2,069,099 shares of the company’s stock worth $54,170,000 after acquiring an additional 48,604 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Construction Partners by 19.8% in the 1st quarter. Vanguard Group Inc. now owns 2,029,848 shares of the company’s stock worth $53,141,000 after acquiring an additional 336,161 shares during the period. 69.45% of the stock is owned by institutional investors and hedge funds.

Construction Partners Price Performance

ROAD opened at $23.57 on Tuesday. The company has a quick ratio of 1.50, a current ratio of 1.93 and a debt-to-equity ratio of 0.76. Construction Partners has a 52-week low of $18.89 and a 52-week high of $44.99. The company has a 50 day moving average of $21.56 and a two-hundred day moving average of $24.23. The company has a market cap of $1.24 billion, a P/E ratio of 90.66, a P/E/G ratio of 3.91 and a beta of 0.98.

Construction Partners (NASDAQ:ROAD – Get Rating) last released its quarterly earnings data on Friday, May 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.14). The business had revenue of $243.40 million for the quarter, compared to analysts’ expectations of $218.14 million. Construction Partners had a return on equity of 3.30% and a net margin of 1.25%. Construction Partners’s quarterly revenue was up 35.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.04) earnings per share. On average, analysts expect that Construction Partners will post 0.29 earnings per share for the current year.

About Construction Partners

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Construction Partners, Inc, a civil infrastructure company, engages in the construction and maintenance of roadways across Alabama, Florida, Georgia, North Carolina, and South Carolina. The company, through its subsidiaries, provides various products and services to public and private infrastructure projects, with a focus on highways, roads, bridges, airports, and commercial and residential developments.