Construction Partners (NASDAQ:ROAD) Given New $92.00 Price Target at Robert W. Baird

Construction Partners (NASDAQ:ROAD) had its target price hoisted by analysts at Robert W. Baird from $68.00 to $92.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s price objective suggests a potential upside of 8.62% from the stock’s current price.

Several other research firms have also recently weighed in on ROAD. DA Davidson lifted their price objective on Construction Partners from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Raymond James boosted 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 upped their price objective on Construction Partners from $61.00 to $67.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Construction Partners has a consensus rating of “Moderate Buy” and an average target price of $69.00.

Construction Partners Price Performance

Shares of NASDAQ ROAD opened at $84.70 on Tuesday. The stock has a fifty day simple moving average of $67.11 and a two-hundred day simple moving average of $60.07. Construction Partners has a 1-year low of $36.70 and a 1-year high of $86.00. The firm has a market cap of $4.46 billion, a price-to-earnings ratio of 72.39, a price-to-earnings-growth ratio of 1.35 and a beta of 0.67. The company has a current ratio of 1.60, a quick ratio of 1.30 and a debt-to-equity ratio of 0.82.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings data on Friday, August 9th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.05. The company had revenue of $517.80 million during the quarter, compared to analyst estimates of $503.57 million. Construction Partners had a return on equity of 13.34% and a net margin of 4.01%. The firm’s quarterly revenue was up 22.7% on a year-over-year basis. During the same quarter last year, the company earned $0.41 earnings per share. Analysts anticipate that Construction Partners will post 1.43 earnings per share for the current year.

Insider Buying and Selling at Construction Partners

In other Construction Partners news, Director Mark R. Matteson sold 25,408 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $61.97, for a total value of $1,574,533.76. Following the completion of the sale, the director now directly owns 102,592 shares in the company, valued at $6,357,626.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 18.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Construction Partners

Several institutional investors and hedge funds have recently made changes to their positions in ROAD. Covestor Ltd raised its holdings in shares of Construction Partners by 17,700.0% during the first quarter. Covestor Ltd now owns 534 shares of the company’s stock worth $30,000 after purchasing an additional 531 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Construction Partners by 24.4% during the third quarter. GAMMA Investing LLC now owns 873 shares of the company’s stock worth $61,000 after purchasing an additional 171 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Construction Partners by 244.4% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,178 shares of the company’s stock worth $66,000 after purchasing an additional 836 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of Construction Partners during the second quarter worth $116,000. Finally, SG Americas Securities LLC purchased a new position in Construction Partners in the first quarter valued at $139,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

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.