Construction Partners (NASDAQ:ROAD) Hits New 52-Week High – Should You Buy?

Construction Partners, Inc. (NASDAQ:ROAD) shares hit a new 52-week high during trading on Monday . The company traded as high as $100.99 and last traded at $100.99, with a volume of 1412 shares changing hands. The stock had previously closed at $99.98.

Analyst Ratings Changes

ROAD has been the topic of several research analyst reports. DA Davidson boosted their price objective on Construction Partners from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Robert W. Baird increased their price target on shares of Construction Partners from $68.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Raymond James raised their price objective on shares of Construction Partners from $69.00 to $72.00 and gave the stock a “strong-buy” rating in a report on Monday, August 12th. Finally, Stifel Nicolaus boosted their target price on shares of Construction Partners from $61.00 to $67.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Three 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 stock. According to MarketBeat.com, Construction Partners has an average rating of “Moderate Buy” and a consensus target price of $69.00.

Construction Partners Price Performance

The firm has a 50 day moving average price of $79.08 and a two-hundred day moving average price of $65.77. The company has a market cap of $5.29 billion, a P/E ratio of 75.74, a P/E/G ratio of 1.22 and a beta of 0.65. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.30 and a current ratio of 1.60.

Construction Partners (NASDAQ:ROAD) last posted its earnings results on Thursday, November 21st. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.01). Construction Partners had a return on equity of 13.15% and a net margin of 3.78%. The business had revenue of $538.16 million during the quarter, compared to analysts’ expectations of $538.04 million. During the same quarter in the previous year, the business earned $0.59 EPS. Construction Partners’s revenue for the quarter was up 13.3% on a year-over-year basis. On average, analysts predict that Construction Partners, Inc. will post 1.91 EPS for the current fiscal year.

Hedge Funds Weigh In On Construction Partners

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its holdings in Construction Partners by 24.4% during the 3rd quarter. GAMMA Investing LLC now owns 873 shares of the company’s stock worth $61,000 after purchasing an additional 171 shares in the last quarter. KBC Group NV increased its position in shares of Construction Partners by 35.0% during the third quarter. KBC Group NV now owns 1,417 shares of the company’s stock valued at $99,000 after buying an additional 367 shares during the period. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Construction Partners by 55.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,831 shares of the company’s stock worth $101,000 after buying an additional 653 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Construction Partners in the second quarter valued at approximately $116,000. Finally, SG Americas Securities LLC purchased a new position in Construction Partners during the first quarter valued at approximately $139,000. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

About Construction Partners

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.