Construction Partners (NASDAQ:ROAD) Sets New 52-Week High at $55.94

Construction Partners, Inc. (NASDAQ:ROAD)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $55.94 and last traded at $55.81, with a volume of 215351 shares. The stock had previously closed at $55.50.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ROAD shares. Stifel Nicolaus boosted their target price on shares of Construction Partners from $51.00 to $57.00 and gave the company a “buy” rating in a research report on Monday, February 12th. Sidoti cut shares of Construction Partners from a “buy” rating to a “neutral” rating and set a $59.00 target price for the company. in a research report on Thursday. Raymond James upped their price objective on shares of Construction Partners from $45.00 to $49.00 and gave the stock a “strong-buy” rating in a research report on Friday, December 1st. Finally, Robert W. Baird cut shares of Construction Partners from an “outperform” rating to a “neutral” rating and boosted their target price for the stock from $46.00 to $50.00 in a research note on Monday, February 12th. Two research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $52.00.

Construction Partners Stock Performance

The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.39 and a current ratio of 1.75. The company has a market cap of $2.96 billion, a price-to-earnings ratio of 51.99, a P/E/G ratio of 1.44 and a beta of 0.64. The company has a fifty day moving average of $48.68 and a two-hundred day moving average of $43.22.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings data on Friday, February 9th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.06. The company had revenue of $396.51 million for the quarter, compared to the consensus estimate of $393.62 million. Construction Partners had a return on equity of 11.56% and a net margin of 3.52%. Construction Partners’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter last year, the business posted $0.04 EPS. Equities research analysts anticipate that Construction Partners, Inc. will post 1.35 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ROAD. Bank of New York Mellon Corp raised its position in shares of Construction Partners by 11.7% in the 1st quarter. Bank of New York Mellon Corp now owns 573,400 shares of the company’s stock worth $15,012,000 after acquiring an additional 59,957 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in shares of Construction Partners in the 1st quarter worth about $229,000. MetLife Investment Management LLC raised its position in shares of Construction Partners by 82.3% in the 1st quarter. MetLife Investment Management LLC now owns 21,313 shares of the company’s stock worth $558,000 after acquiring an additional 9,622 shares in the last quarter. Rhumbline Advisers raised its position in shares of Construction Partners by 38.5% in the 1st quarter. Rhumbline Advisers now owns 34,539 shares of the company’s stock worth $904,000 after acquiring an additional 9,598 shares in the last quarter. Finally, BlackRock Inc. raised its position in shares of Construction Partners by 23.2% in the 1st quarter. BlackRock Inc. now owns 2,655,171 shares of the company’s stock worth $69,511,000 after acquiring an additional 500,697 shares in the last quarter. 94.83% of the stock is owned by institutional investors.

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.