Stifel Nicolaus Raises Construction Partners (NASDAQ:ROAD) Price Target to $67.00

Construction Partners (NASDAQ:ROAD) had its price objective increased by Stifel Nicolaus from $61.00 to $67.00 in a report issued on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

Separately, Robert W. Baird raised their price objective on shares of Construction Partners from $50.00 to $60.00 and gave the company a neutral rating in a research note on Monday, May 13th. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $59.67.

Construction Partners Stock Performance

NASDAQ ROAD opened at $60.67 on Monday. The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of 51.86, a PEG ratio of 1.41 and a beta of 0.66. The business’s 50 day moving average is $57.38 and its two-hundred day moving average is $54.24. Construction Partners has a 12-month low of $32.75 and a 12-month high of $66.78. The company has a current ratio of 1.64, a quick ratio of 1.28 and a debt-to-equity ratio of 0.81.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings data on Friday, August 9th. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.05. The firm had revenue of $517.80 million for the quarter, compared to analyst estimates of $503.57 million. Construction Partners had a return on equity of 13.54% and a net margin of 4.01%. Construction Partners’s quarterly revenue was up 22.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.41 earnings per share. Research analysts expect that Construction Partners will post 1.4 EPS for the current year.

Institutional Investors Weigh In On Construction Partners

Several institutional investors and hedge funds have recently made changes to their positions in the business. Wasatch Advisors LP raised its position in Construction Partners by 188.3% during the first quarter. Wasatch Advisors LP now owns 1,692,328 shares of the company’s stock worth $95,024,000 after acquiring an additional 1,105,423 shares during the last quarter. TimesSquare Capital Management LLC purchased a new position in shares of Construction Partners during the 1st quarter worth approximately $19,832,000. Tyro Capital Management LLC acquired a new position in shares of Construction Partners during the 4th quarter worth approximately $12,410,000. Geneva Capital Management LLC lifted its stake in Construction Partners by 8.5% in the 1st quarter. Geneva Capital Management LLC now owns 3,408,788 shares of the company’s stock valued at $191,403,000 after buying an additional 268,225 shares in the last quarter. Finally, Conestoga Capital Advisors LLC grew its holdings in Construction Partners by 3.0% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 4,135,202 shares of the company’s stock valued at $228,305,000 after buying an additional 120,155 shares during the last quarter. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

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.