Robert W. Baird Boosts Construction Partners (NASDAQ:ROAD) Price Target to $102.00

Construction Partners (NASDAQ:ROAD) had its target price boosted by equities researchers at Robert W. Baird from $100.00 to $102.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s price target indicates a potential upside of 17.57% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. Raymond James dropped their price objective on shares of Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating for the company in a research report on Thursday, January 16th. DA Davidson restated a “neutral” rating and set a $95.00 target price on shares of Construction Partners in a research report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $85.40.

Construction Partners Stock Performance

Shares of ROAD opened at $86.76 on Monday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.54 and a quick ratio of 1.26. Construction Partners has a one year low of $44.77 and a one year high of $103.69. The company’s fifty day moving average price is $90.02 and its 200 day moving average price is $79.02. The company has a market capitalization of $4.85 billion, a PE ratio of 65.73, a price-to-earnings-growth ratio of 1.25 and a beta of 0.74.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings data on Thursday, November 21st. The company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). The company had revenue of $538.16 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the company posted $0.59 EPS. As a group, analysts expect that Construction Partners will post 1.95 earnings per share for the current year.

Insider Activity

In other Construction Partners news, CAO Todd Keith Andrews sold 2,511 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $95.86, for a total value of $240,704.46. Following the transaction, the chief accounting officer now directly owns 19,339 shares in the company, valued at $1,853,836.54. The trade was a 11.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP John L. Harper sold 6,000 shares of Construction Partners stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $94.41, for a total transaction of $566,460.00. Following the sale, the senior vice president now directly owns 154,856 shares of the company’s stock, valued at $14,619,954.96. The trade was a 3.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 139,225 shares of company stock valued at $13,904,358 in the last quarter. Company insiders own 16.36% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ROAD. Raymond James Financial Inc. bought a new stake in shares of Construction Partners during the 4th quarter worth approximately $42,527,000. Allspring Global Investments Holdings LLC raised its position in Construction Partners by 197.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 616,032 shares of the company’s stock valued at $54,104,000 after purchasing an additional 408,610 shares in the last quarter. Fred Alger Management LLC bought a new stake in Construction Partners during the third quarter worth $16,535,000. Artemis Investment Management LLP acquired a new stake in shares of Construction Partners in the 4th quarter valued at $18,893,000. Finally, Segall Bryant & Hamill LLC bought a new position in shares of Construction Partners in the 3rd quarter valued at $10,377,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

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.