Construction Partners (NASDAQ:ROAD) Stock Price Up 9.2% – Time to Buy?

Construction Partners, Inc. (NASDAQ:ROAD)’s share price traded up 9.2% on Thursday . The company traded as high as $100.47 and last traded at $99.71. 410,124 shares were traded during trading, an increase of 13% from the average session volume of 361,364 shares. The stock had previously closed at $91.31.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ROAD. DA Davidson upped their price objective on shares of Construction Partners from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Robert W. Baird increased their price objective on Construction Partners from $68.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Stifel Nicolaus boosted their target price on Construction Partners from $61.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, Raymond James upped their target price on Construction Partners from $69.00 to $72.00 and gave the stock a “strong-buy” rating in a research 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $69.00.

Construction Partners Trading Up 3.2 %

The company has a debt-to-equity ratio of 0.82, a current ratio of 1.60 and a quick ratio of 1.30. The business’s 50 day simple moving average is $78.38 and its 200 day simple moving average is $65.26. The stock has a market cap of $5.27 billion, a P/E ratio of 75.74, a PEG ratio of 1.21 and a beta of 0.65.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings data on Thursday, November 21st. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). Construction Partners had a net margin of 3.78% and a return on equity of 13.15%. The company had revenue of $538.16 million for the quarter, compared to the consensus estimate of $538.04 million. During the same period in the previous year, the business posted $0.59 earnings per share. The firm’s revenue was up 13.3% compared to the same quarter last year. On average, analysts expect that Construction Partners, Inc. will post 1.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Construction Partners

Hedge funds have recently added to or reduced their stakes in the stock. Conestoga Capital Advisors LLC lifted its stake in shares of Construction Partners by 3.0% during the second quarter. Conestoga Capital Advisors LLC now owns 4,135,202 shares of the company’s stock valued at $228,305,000 after acquiring an additional 120,155 shares during the period. Vanguard Group Inc. raised its stake in shares of Construction Partners by 3.0% during the first quarter. Vanguard Group Inc. now owns 2,415,461 shares of the company’s stock worth $135,628,000 after buying an additional 69,223 shares during the last quarter. State Street Corp lifted 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 during the period. Dimensional Fund Advisors LP boosted its stake 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 acquiring an additional 24,828 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in Construction Partners by 8.0% during the 2nd 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. Institutional investors 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.