Construction Partners (NASDAQ:ROAD) Upgraded to “B” at TheStreet

TheStreet upgraded shares of Construction Partners (NASDAQ:ROAD) from a c+ rating to a b rating in a research report sent to investors on Tuesday, TheStreetRatingsTable reports.

ROAD has been the topic of a number of other reports. Imperial Capital reduced their target price on shares of Construction Partners from $20.00 to $16.00 and set an outperform rating on the stock in a report on Wednesday, May 13th. Zacks Investment Research raised Construction Partners from a hold rating to a buy rating and set a $24.00 price objective for the company in a research note on Wednesday, August 12th. Bank of America lowered their target price on shares of Construction Partners from $20.00 to $17.00 and set a buy rating for the company in a report on Friday, May 15th. Raymond James upped their price target on shares of Construction Partners from $18.00 to $21.50 and gave the stock an outperform rating in a report on Monday, August 10th. Finally, BidaskClub raised Construction Partners from a hold rating to a buy rating in a research report on Thursday, August 13th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $19.50.

NASDAQ ROAD opened at $17.77 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.19 and a quick ratio of 1.88. Construction Partners has a 1-year low of $11.96 and a 1-year high of $22.15. The business has a 50 day simple moving average of $18.40 and a two-hundred day simple moving average of $17.15. The stock has a market capitalization of $940.87 million, a PE ratio of 23.38, a P/E/G ratio of 4.39 and a beta of 0.93.

Construction Partners (NASDAQ:ROAD) last posted its earnings results on Friday, August 7th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.05. Construction Partners had a return on equity of 11.14% and a net margin of 4.92%. The firm had revenue of $217.00 million during the quarter, compared to the consensus estimate of $233.95 million. During the same period in the prior year, the company earned $0.33 EPS. The company’s quarterly revenue was down 4.4% compared to the same quarter last year. On average, analysts anticipate that Construction Partners will post 0.69 EPS for the current fiscal year.

In related news, CEO Charles E. Owens sold 56,955 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $20.06, for a total value of $1,142,517.30. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Suntx Capital Management Corp. sold 862,500 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $16.00, for a total transaction of $13,800,000.00. The disclosure for this sale can be found here. Insiders have sold 1,279,899 shares of company stock valued at $22,003,463 over the last quarter. Insiders own 63.94% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in ROAD. Conestoga Capital Advisors LLC increased its stake in shares of Construction Partners by 27.8% in the second quarter. Conestoga Capital Advisors LLC now owns 4,635,722 shares of the company’s stock worth $82,330,000 after acquiring an additional 1,008,100 shares during the period. Wasatch Advisors Inc. boosted its holdings in Construction Partners by 73.6% in the second quarter. Wasatch Advisors Inc. now owns 2,450,434 shares of the company’s stock valued at $43,520,000 after purchasing an additional 1,038,931 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in Construction Partners during the 2nd quarter worth about $41,133,000. BlackRock Inc. raised its stake in shares of Construction Partners by 5.0% during the 1st quarter. BlackRock Inc. now owns 1,566,228 shares of the company’s stock valued at $26,454,000 after buying an additional 74,224 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Construction Partners by 17.5% in the 2nd quarter. Vanguard Group Inc. now owns 1,362,887 shares of the company’s stock valued at $24,205,000 after buying an additional 202,926 shares during the period. 64.75% of the stock is currently owned by institutional investors and hedge funds.

Construction Partners Company Profile

Construction Partners, Inc, an infrastructure and road construction company, provides construction products and services to public and private sectors. It offers construction of highways, roads, bridges, airports, and commercial and residential sites. The company provides a range of sitework construction services, including site development, paving, and utility and drainage systems construction, as well as supplies hot mix asphalt required for the projects.

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Analyst Recommendations for Construction Partners (NASDAQ:ROAD)

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