Construction Partners (NASDAQ:ROAD) Trading 10.3% Higher – Here’s Why

Construction Partners, Inc. (NASDAQ:ROAD) traded up 10.3% during mid-day trading on Friday . The stock traded as high as $123.68 and last traded at $123.72. 242,957 shares were traded during trading, a decline of 55% from the average session volume of 535,937 shares. The stock had previously closed at $112.15.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Zacks Research raised shares of Construction Partners from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 29th. DA Davidson increased their target price on shares of Construction Partners from $120.00 to $130.00 and gave the stock a “neutral” rating in a research note on Friday, February 6th. Robert W. Baird set a $142.00 target price on shares of Construction Partners in a research note on Friday, February 6th. Weiss Ratings reissued a “hold (c+)” rating on shares of Construction Partners in a research note on Monday, December 29th. Finally, B. Riley Financial raised shares of Construction Partners from a “neutral” rating to a “buy” rating and increased their target price for the stock from $117.00 to $135.00 in a research note on Thursday, April 2nd. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Construction Partners has a consensus rating of “Buy” and a consensus target price of $131.40.

Construction Partners Stock Performance

The company has a 50-day moving average of $121.18 and a 200-day moving average of $115.84. The company has a market cap of $7.10 billion, a PE ratio of 57.11, a PEG ratio of 0.99 and a beta of 0.92. The company has a quick ratio of 1.26, a current ratio of 1.59 and a debt-to-equity ratio of 1.76.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings results on Thursday, February 5th. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.16. The business had revenue of $809.47 million during the quarter, compared to analyst estimates of $740.14 million. Construction Partners had a return on equity of 15.26% and a net margin of 3.99%.Construction Partners’s quarterly revenue was up 44.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.25 EPS. As a group, analysts anticipate that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in shares of Construction Partners by 10.4% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 100,106 shares of the company’s stock worth $12,713,000 after buying an additional 9,435 shares in the last quarter. AGF Management Ltd. bought a new position in shares of Construction Partners in the third quarter valued at approximately $15,062,000. Tyro Capital Management LLC grew its holdings in shares of Construction Partners by 6.8% in the third quarter. Tyro Capital Management LLC now owns 164,488 shares of the company’s stock valued at $20,890,000 after acquiring an additional 10,465 shares in the last quarter. Telligent Fund LP purchased a new stake in shares of Construction Partners during the third quarter valued at approximately $1,016,000. Finally, American Century Companies Inc. increased its position in shares of Construction Partners by 5.6% during the third quarter. American Century Companies Inc. now owns 1,039,928 shares of the company’s stock valued at $132,071,000 after acquiring an additional 55,049 shares during the last quarter. 94.83% of the stock is owned by institutional investors.

About Construction Partners

Construction Partners, Inc (NASDAQ: ROAD) is a specialty contractor and infrastructure solutions provider focused on road building, paving, site development and aggregate production. The company delivers a comprehensive suite of civil construction services, including roadway paving and milling, site grading and preparation, stormwater and utility installation, and full-scale asphalt plant operations. By integrating materials production with contracting capabilities, the firm aims to streamline project delivery and maintain quality control across its contracting and materials businesses.

At the heart of Construction Partners’ operations are its network of asphalt plants, quarries and aggregate production facilities.