Construction Partners (NASDAQ:ROAD) Stock Price Up 9.2% – Here’s What Happened

Construction Partners, Inc. (NASDAQ:ROAD) was up 9.2% on Thursday . The company traded as high as $100.47 and last traded at $99.71. Approximately 410,124 shares traded hands during trading, an increase of 13% from the average daily volume of 361,364 shares. The stock had previously closed at $91.31.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Raymond James raised their price objective on Construction Partners from $69.00 to $72.00 and gave the company a “strong-buy” rating in a research report on Monday, August 12th. DA Davidson raised their price target on Construction Partners from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Stifel Nicolaus upped their price objective on shares of Construction Partners from $61.00 to $67.00 and gave the company a “buy” rating in a report on Monday, August 12th. Finally, Robert W. Baird upped their price target on shares of Construction Partners from $68.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $69.00.

Construction Partners Stock Up 6.1 %

The stock has a fifty day moving average price of $77.71 and a two-hundred day moving average price of $65.04. The company has a market cap of $5.11 billion, a price-to-earnings ratio of 73.24, a P/E/G ratio of 1.16 and a beta of 0.65. The company has a quick ratio of 1.30, a current ratio of 1.60 and a debt-to-equity ratio of 0.82.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings results on Thursday, November 21st. The company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). Construction Partners had a return on equity of 13.34% and a net margin of 4.01%. The business had revenue of $538.16 million for the quarter, compared to the consensus estimate of $538.04 million. During the same period in the prior year, the business posted $0.59 earnings per share. Construction Partners’s revenue was up 13.3% compared to the same quarter last year. As a group, sell-side analysts expect that Construction Partners, Inc. will post 1.33 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC increased its stake in shares of Construction Partners by 24.4% in the 3rd quarter. GAMMA Investing LLC now owns 873 shares of the company’s stock valued at $61,000 after purchasing an additional 171 shares during the last quarter. Arizona State Retirement System boosted its position in Construction Partners by 2.1% in the second quarter. Arizona State Retirement System now owns 12,270 shares of the company’s stock valued at $677,000 after buying an additional 257 shares in the last quarter. Ameritas Investment Partners Inc. grew its stake in shares of Construction Partners by 7.1% during the first quarter. Ameritas Investment Partners Inc. now owns 4,279 shares of the company’s stock worth $240,000 after buying an additional 285 shares during the last quarter. KBC Group NV grew its stake in shares of Construction Partners by 35.0% during the third quarter. KBC Group NV now owns 1,417 shares of the company’s stock worth $99,000 after buying an additional 367 shares during the last quarter. Finally, nVerses Capital LLC increased its holdings in shares of Construction Partners by 19.0% during the third quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock worth $174,000 after buying an additional 400 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.

Construction Partners Company Profile

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.