Construction Partners (NASDAQ:ROAD) Hits New 12-Month High at $57.87

Construction Partners, Inc. (NASDAQ:ROADGet Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $57.87 and last traded at $57.63, with a volume of 78270 shares changing hands. The stock had previously closed at $56.10.

Analyst Ratings Changes

ROAD has been the subject of a number of recent analyst reports. Stifel Nicolaus upped their price objective 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 price objective on the stock. in a research report on Thursday, March 28th. Finally, Robert W. Baird lowered Construction Partners from an “outperform” rating to a “neutral” rating and boosted their price target for the company from $46.00 to $50.00 in a report on Monday, February 12th. Two 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $52.00.

Check Out Our Latest Analysis on ROAD

Construction Partners Price Performance

The company’s 50-day moving average price is $49.50 and its two-hundred day moving average price is $43.75. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.75 and a quick ratio of 1.39. The company has a market capitalization of $3.05 billion, a P/E ratio of 51.94, a price-to-earnings-growth ratio of 1.46 and a beta of 0.65.

Construction Partners (NASDAQ:ROADGet Free Report) last released its earnings results on Friday, February 9th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.06. The company had revenue of $396.51 million for the quarter, compared to analyst estimates of $393.62 million. Construction Partners had a return on equity of 11.56% and a net margin of 3.52%. Construction Partners’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.04 EPS. As a group, sell-side analysts expect that Construction Partners, Inc. will post 1.35 EPS for the current year.

Institutional Trading of Construction Partners

Several large investors have recently made changes to their positions in ROAD. Bank of New York Mellon Corp raised its holdings in shares of Construction Partners by 11.7% during the 1st quarter. Bank of New York Mellon Corp now owns 573,400 shares of the company’s stock worth $15,012,000 after buying an additional 59,957 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in Construction Partners during the first quarter worth about $229,000. MetLife Investment Management LLC lifted its holdings in shares of Construction Partners by 82.3% in the first 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 during the last quarter. Rhumbline Advisers boosted its stake in shares of Construction Partners by 38.5% in the 1st quarter. Rhumbline Advisers now owns 34,539 shares of the company’s stock valued at $904,000 after purchasing an additional 9,598 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in shares of Construction Partners by 23.2% during the 1st quarter. BlackRock Inc. now owns 2,655,171 shares of the company’s stock valued at $69,511,000 after purchasing an additional 500,697 shares during the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.

Construction Partners Company Profile

(Get Free Report)

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.

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