Construction Partners (NASDAQ:ROAD) Price Target Raised to $92.00 at Robert W. Baird

Construction Partners (NASDAQ:ROAD) had its price objective increased by Robert W. Baird from $68.00 to $92.00 in a research note released on Tuesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Several other equities analysts have also commented on ROAD. Raymond James upped their price target on shares of Construction Partners from $69.00 to $72.00 and gave the stock a “strong-buy” rating in a research report on Monday, August 12th. DA Davidson upped their price objective on shares of Construction Partners from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Finally, Stifel Nicolaus upped their price objective on shares of Construction Partners from $61.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.00.

Construction Partners Stock Down 1.1 %

ROAD stock opened at $83.79 on Tuesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.60 and a quick ratio of 1.30. Construction Partners has a 1-year low of $36.70 and a 1-year high of $86.00. The firm has a fifty day moving average price of $67.57 and a two-hundred day moving average price of $60.25. The firm has a market cap of $4.42 billion, a price-to-earnings ratio of 71.62, a PEG ratio of 1.35 and a beta of 0.67.

Construction Partners (NASDAQ:ROAD) last released its earnings results on Friday, August 9th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.05. Construction Partners had a net margin of 4.01% and a return on equity of 13.34%. The firm had revenue of $517.80 million during the quarter, compared to analyst estimates of $503.57 million. During the same quarter in the previous year, the firm earned $0.41 earnings per share. The firm’s revenue for the quarter was up 22.7% compared to the same quarter last year. Research analysts predict that Construction Partners will post 1.43 EPS for the current year.

Insiders Place Their Bets

In other Construction Partners news, Director Mark R. Matteson sold 25,408 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $61.97, for a total transaction of $1,574,533.76. Following the sale, the director now owns 102,592 shares in the company, valued at approximately $6,357,626.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 18.80% of the company’s stock.

Hedge Funds Weigh In On Construction Partners

A number of hedge funds have recently added to or reduced their stakes in ROAD. Wasatch Advisors LP increased its holdings in Construction Partners by 188.3% in the first quarter. Wasatch Advisors LP now owns 1,692,328 shares of the company’s stock worth $95,024,000 after buying an additional 1,105,423 shares during the last quarter. Clearbridge Investments LLC acquired a new position in Construction Partners in the second quarter worth approximately $20,360,000. TimesSquare Capital Management LLC acquired a new position in Construction Partners in the first quarter worth approximately $19,832,000. Geneva Capital Management LLC increased its holdings in Construction Partners by 8.5% in the first quarter. Geneva Capital Management LLC now owns 3,408,788 shares of the company’s stock worth $191,403,000 after buying an additional 268,225 shares during the last quarter. Finally, Driehaus Capital Management LLC increased its holdings in Construction Partners by 31.9% in the second quarter. Driehaus Capital Management LLC now owns 569,440 shares of the company’s stock worth $31,439,000 after buying an additional 137,572 shares during the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.

Construction Partners Company Profile

Construction Partners, Inc, a civil infrastructure company, constructs and maintains roadways in Alabama, Florida, Georgia, North Carolina, South Carolina, and Tennessee. The company provides various products and services to public and private infrastructure projects, such as highways, roads, bridges, airports, and commercial and residential developments.