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

Construction Partners, Inc. (NASDAQ:ROAD) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $103.69 and last traded at $103.69, with a volume of 39698 shares trading hands. The stock had previously closed at $101.61.

Analyst Upgrades and Downgrades

ROAD has been the topic of a number of recent research reports. 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 research note on Tuesday, October 22nd. Stifel Nicolaus raised 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. DA Davidson raised their target price on shares of Construction Partners from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Finally, Raymond James raised their target price on shares of Construction Partners from $69.00 to $72.00 and gave the company a “strong-buy” rating in a research note on Monday, August 12th. Three 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $69.00.

Construction Partners Trading Down 1.2 %

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

Construction Partners (NASDAQ:ROAD) last issued 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). Construction Partners had a return on equity of 12.90% and a net margin of 3.78%. The business had revenue of $538.16 million for the quarter, compared to analysts’ expectations of $538.04 million. During the same period last year, the business earned $0.59 EPS. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. On average, sell-side analysts forecast that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ROAD. Conestoga Capital Advisors LLC increased its holdings in Construction Partners by 3.0% in the second 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 in the last quarter. State Street Corp increased its holdings in Construction Partners by 2.7% in the third quarter. State Street Corp now owns 1,004,867 shares of the company’s stock valued at $70,140,000 after buying an additional 26,189 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Construction Partners by 2.6% in the second quarter. Dimensional Fund Advisors LP now owns 972,400 shares of the company’s stock valued at $53,687,000 after buying an additional 24,828 shares in the last quarter. American Century Companies Inc. increased its holdings in Construction Partners by 8.0% in the second quarter. American Century Companies Inc. now owns 949,123 shares of the company’s stock valued at $52,401,000 after buying an additional 70,099 shares in the last quarter. Finally, Driehaus Capital Management LLC increased its holdings in Construction Partners by 31.9% in the second quarter. Driehaus Capital Management LLC now owns 569,440 shares of the company’s stock valued at $31,439,000 after buying an additional 137,572 shares in the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

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.