Construction Partners (NASDAQ:ROAD) Hits New 1-Year High – Here’s Why

Construction Partners, Inc. (NASDAQ:ROADGet Free Report)’s share price hit a new 52-week high on Monday . The stock traded as high as $103.69 and last traded at $103.69, with a volume of 39698 shares. The stock had previously closed at $101.61.

Wall Street Analyst Weigh In

ROAD has been the subject of several recent analyst reports. Raymond James upped their target price 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. Robert W. Baird increased their price objective on shares of Construction Partners from $68.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. DA Davidson increased their price objective on shares of Construction Partners from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Finally, Stifel Nicolaus increased their price objective on shares of Construction Partners from $61.00 to $67.00 and gave the company a “buy” rating in a report on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Construction Partners presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.00.

Read Our Latest Stock Analysis on ROAD

Construction Partners Price Performance

The firm’s 50-day moving average price is $82.00 and its 200-day moving average price is $67.37. The company has a current ratio of 1.54, a quick ratio of 1.30 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $5.61 billion, a PE ratio of 76.98, a PEG ratio of 1.21 and a beta of 0.65.

Construction Partners (NASDAQ:ROADGet Free Report) last announced its earnings results on Thursday, November 21st. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.01). The business had revenue of $538.16 million for the quarter, compared to analysts’ expectations of $538.04 million. Construction Partners had a net margin of 3.78% and a return on equity of 12.90%. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.59 earnings per share. On average, equities analysts forecast that Construction Partners, Inc. will post 1.96 EPS for the current fiscal year.

Institutional Trading of Construction Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Conestoga Capital Advisors LLC raised its position in Construction Partners by 3.0% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 4,135,202 shares of the company’s stock worth $228,305,000 after purchasing an additional 120,155 shares during the period. State Street Corp increased its position in shares of Construction Partners by 2.7% during the third quarter. State Street Corp now owns 1,004,867 shares of the company’s stock worth $70,140,000 after acquiring an additional 26,189 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Construction Partners by 2.6% during the second quarter. Dimensional Fund Advisors LP now owns 972,400 shares of the company’s stock worth $53,687,000 after acquiring an additional 24,828 shares during the period. American Century Companies Inc. increased its position in shares of Construction Partners by 8.0% during the second quarter. American Century Companies Inc. now owns 949,123 shares of the company’s stock worth $52,401,000 after acquiring an additional 70,099 shares during the period. Finally, Driehaus Capital Management LLC increased its position in shares of Construction Partners by 31.9% during the second quarter. Driehaus Capital Management LLC now owns 569,440 shares of the company’s stock worth $31,439,000 after acquiring an additional 137,572 shares during the period. 94.83% of the stock is owned by hedge funds and other institutional investors.

About Construction Partners

(Get Free Report)

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.

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