Construction Partners (NASDAQ:ROAD) Lifted to “Strong-Buy” at Zacks Investment Research

Construction Partners (NASDAQ:ROAD) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Wednesday, Zacks.com reports. The firm currently has a $17.00 price target on the stock. Zacks Investment Research‘s target price indicates a potential upside of 14.71% from the stock’s previous close.

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. “

ROAD has been the topic of a number of other reports. Imperial Capital restated an “outperform” rating and set a $15.50 price objective (up from $14.00) on shares of Construction Partners in a research report on Tuesday, May 14th. ValuEngine downgraded Construction Partners from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Finally, Raymond James upped their price objective on Construction Partners from $15.00 to $16.50 and gave the company a “strong-buy” rating in a research report on Monday. One analyst has rated the stock with a sell rating, two have issued a buy rating and two have given a strong buy rating to the company’s stock. Construction Partners currently has a consensus rating of “Buy” and a consensus target price of $16.00.



Shares of ROAD stock opened at $14.82 on Wednesday. Construction Partners has a 1 year low of $7.70 and a 1 year high of $15.84. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.75 and a current ratio of 2.04. The company’s 50 day moving average is $14.55. The stock has a market capitalization of $756.30 million, a P/E ratio of 17.23, a PEG ratio of 1.70 and a beta of 1.96.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. Construction Partners had a return on equity of 13.71% and a net margin of 5.48%. The business had revenue of $227.30 million for the quarter, compared to the consensus estimate of $229.67 million. During the same period in the prior year, the business posted $0.29 earnings per share. The company’s quarterly revenue was up 16.5% compared to the same quarter last year. Equities research analysts expect that Construction Partners will post 0.83 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Strs Ohio purchased a new stake in shares of Construction Partners in the second quarter worth approximately $48,000. Bank of Montreal Can purchased a new stake in shares of Construction Partners in the second quarter worth approximately $50,000. Acadian Asset Management LLC purchased a new stake in shares of Construction Partners in the second quarter worth approximately $56,000. JPMorgan Chase & Co. purchased a new stake in shares of Construction Partners in the second quarter worth approximately $66,000. Finally, Bailard Inc. purchased a new stake in shares of Construction Partners in the first quarter worth approximately $175,000. Hedge funds and other institutional investors own 21.68% of the company’s stock.

About Construction Partners

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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