Construction Partners (NASDAQ:ROAD) Price Target Increased to $16.50 by Analysts at Raymond James

Construction Partners (NASDAQ:ROAD) had its target price hoisted by Raymond James from $15.00 to $16.50 in a research report sent to investors on Monday, BenzingaRatingsTable reports. They currently have a strong-buy rating on the stock.

A number of other equities research analysts also recently issued reports on ROAD. ValuEngine downgraded shares of Construction Partners from a hold rating to a sell rating in a report on Thursday, August 8th. Zacks Investment Research upgraded shares of Construction Partners from a hold rating to a strong-buy rating and set a $15.00 target price for the company in a report on Wednesday, May 15th. Finally, Imperial Capital restated an outperform rating and issued a $15.50 target price (up from $14.00) on shares of Construction Partners in a report on Tuesday, May 14th. One equities research analyst has rated the stock with a sell rating, two have given a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $16.44.

Construction Partners stock opened at $15.17 on Monday. Construction Partners has a 1 year low of $7.70 and a 1 year high of $15.84. The firm has a 50 day moving average of $14.57. The stock has a market capitalization of $778.92 million, a P/E ratio of 17.64, a price-to-earnings-growth ratio of 1.83 and a beta of 1.96. The company has a current ratio of 2.04, a quick ratio of 1.75 and a debt-to-equity ratio of 0.13.



Construction Partners (NASDAQ:ROAD) last released its earnings results 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 net margin of 5.48% and a return on equity of 13.71%. The firm had revenue of $227.30 million during the quarter, compared to the consensus estimate of $229.67 million. During the same period in the previous year, the firm earned $0.29 earnings per share. Construction Partners’s revenue was up 16.5% compared to the same quarter last year. As a group, analysts anticipate that Construction Partners will post 0.83 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ROAD. BlackRock Inc. grew its stake in Construction Partners by 713.6% during the second quarter. BlackRock Inc. now owns 723,838 shares of the company’s stock worth $10,871,000 after buying an additional 634,868 shares during the period. Royce & Associates LP grew its stake in Construction Partners by 58.0% during the first quarter. Royce & Associates LP now owns 666,105 shares of the company’s stock worth $8,506,000 after buying an additional 244,505 shares during the period. Wasatch Advisors Inc. grew its stake in Construction Partners by 19.4% during the second quarter. Wasatch Advisors Inc. now owns 1,341,330 shares of the company’s stock worth $20,147,000 after buying an additional 218,102 shares during the period. Summit Creek Advisors LLC grew its stake in Construction Partners by 20.6% during the first quarter. Summit Creek Advisors LLC now owns 676,478 shares of the company’s stock worth $8,639,000 after buying an additional 115,450 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in Construction Partners during the second quarter worth approximately $1,436,000. 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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