Zacks Investment Research upgraded shares of Construction Partners (NASDAQ:ROAD) from a hold rating to a strong-buy rating in a research report released on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $15.00 price objective on the stock.
According to Zacks, “Construction Partners Inc. is an infrastructure and road construction company. It provides construction products and services to public and private sectors. The company’s services include construction of highways, roads, bridges, airports and commercial and residential sites. Construction Partners Inc. is based in Alabama, United States. “
A number of other analysts have also recently weighed in on ROAD. ValuEngine cut shares of Construction Partners from a hold rating to a sell rating in a report on Wednesday, May 8th. Imperial Capital reaffirmed an outperform rating and issued a $15.50 price objective (up previously from $14.00) on shares of Construction Partners in a report on Tuesday. Finally, Raymond James set a $14.00 target price on shares of Construction Partners and gave the company a buy rating in a research note on Thursday, February 14th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of Buy and a consensus price target of $14.92.
Construction Partners (NASDAQ:ROAD) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.03. Construction Partners had a net margin of 5.20% and a return on equity of 12.80%. The business had revenue of $164.30 million for the quarter, compared to analysts’ expectations of $145.80 million. During the same quarter last year, the company earned $0.27 EPS. The company’s revenue for the quarter was up 38.2% compared to the same quarter last year. Equities analysts forecast that Construction Partners will post 0.78 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the business. GSA Capital Partners LLP acquired a new position in Construction Partners during the 4th quarter valued at about $100,000. Bailard Inc. acquired a new position in Construction Partners during the 1st quarter valued at about $175,000. BlueCrest Capital Management Ltd acquired a new position in Construction Partners during the 1st quarter valued at about $175,000. Wells Fargo & Company MN increased its stake in Construction Partners by 8.7% during the 1st quarter. Wells Fargo & Company MN now owns 14,210 shares of the company’s stock valued at $181,000 after buying an additional 1,140 shares during the period. Finally, Credit Suisse AG acquired a new position in Construction Partners during the 3rd quarter valued at about $185,000. 20.57% of the stock is currently owned by hedge funds and other institutional investors.
Construction Partners Company Profile
Construction Partners, Inc, an infrastructure and road construction company, provides construction products and services to public and private sectors. It offers construction of highways, roads, bridges, airports, and commercial and residential sites. The company provides a range of sitework construction services, including site development, paving, and utility and drainage systems construction, as well as supplies hot mix asphalt required for the projects.
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