Construction Partners, Inc. (NASDAQ:ROAD – Get Free Report)’s stock price shot up 6.7% during mid-day trading on Wednesday . The company traded as high as $104.00 and last traded at $103.8770. 269,155 shares changed hands during trading, a decline of 54% from the average session volume of 582,848 shares. The stock had previously closed at $97.35.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on ROAD shares. Robert W. Baird dropped their target price on Construction Partners from $169.00 to $145.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 1st. Raymond James Financial reduced their price target on Construction Partners from $161.00 to $150.00 and set a “strong-buy” rating for the company in a research report on Wednesday. B. Riley Financial raised shares of Construction Partners from a “neutral” rating to a “buy” rating and raised their price target for the stock from $117.00 to $135.00 in a research note on Thursday, April 2nd. Zacks Research upgraded shares of Construction Partners from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. Finally, Truist Financial started coverage on shares of Construction Partners in a research report on Wednesday, June 3rd. They issued a “hold” rating and a $130.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Construction Partners presently has a consensus rating of “Moderate Buy” and an average target price of $134.17.
Check Out Our Latest Stock Analysis on ROAD
Construction Partners Price Performance
Construction Partners (NASDAQ:ROAD – Get Free Report) last released its earnings results on Friday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.23. The business had revenue of $769.20 million for the quarter, compared to analyst estimates of $678.46 million. Construction Partners had a return on equity of 15.22% and a net margin of 3.90%.Construction Partners’s revenue was up 34.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.08 earnings per share. On average, sell-side analysts anticipate that Construction Partners, Inc. will post 2.95 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Construction Partners
Large investors have recently made changes to their positions in the stock. Morse Asset Management Inc increased its holdings in Construction Partners by 300.0% during the third quarter. Morse Asset Management Inc now owns 240 shares of the company’s stock worth $30,000 after buying an additional 180 shares during the last quarter. Danske Bank A S bought a new position in shares of Construction Partners in the 3rd quarter valued at about $38,000. Harbor Investment Advisory LLC bought a new position in shares of Construction Partners in the 1st quarter valued at about $39,000. Hollencrest Capital Management acquired a new position in shares of Construction Partners during the 1st quarter worth about $39,000. Finally, Quarry LP acquired a new position in shares of Construction Partners during the 3rd quarter worth about $42,000. Institutional investors and hedge funds own 94.83% of the company’s stock.
Construction Partners Company Profile
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.
Read More
- Five stocks we like better than Construction Partners
- Why Abbott Laboratories Stock Is Suddenly Winning Back Wall Street
- Revving Up Returns: Big Banks Race Through the Rate Plateau
- Why Uber’s Biggest Deal Yet Could Unlock Its Next Growth Phase
- Why Microsoft Is Playing a Different AI Game Than Big Tech—and Cash Flow Is the Test
Receive News & Ratings for Construction Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Construction Partners and related companies with MarketBeat.com's FREE daily email newsletter.
