Raymond James Raises Construction Partners (NASDAQ:ROAD) Price Target to $72.00

Construction Partners (NASDAQ:ROAD - Get Free Report) had its price target increased by equities research analysts at Raymond James from $69.00 to $72.00 in a research report issued on Monday, Benzinga reports. The firm presently has a "strong-buy" rating on the stock. Raymond James' price objective points to a potential upside of 19.09% from the company's previous close.

A number of other research firms also recently commented on ROAD. Robert W. Baird lifted their price target on Construction Partners from $50.00 to $60.00 and gave the stock a "neutral" rating in a research note on Monday, May 13th. Stifel Nicolaus lifted their price target on Construction Partners from $61.00 to $67.00 and gave the stock a "buy" rating in a research note on Monday.

Construction Partners Stock Up 1.9 %

Shares of NASDAQ ROAD traded up $1.12 during midday trading on Monday, reaching $60.46. 468,415 shares of the company's stock were exchanged, compared to its average volume of 360,709. Construction Partners has a 52-week low of $32.75 and a 52-week high of $66.78. The stock has a market capitalization of $3.19 billion, a PE ratio of 51.68, a price-to-earnings-growth ratio of 1.36 and a beta of 0.66. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.28 and a current ratio of 1.64. The business's fifty day moving average price is $57.13 and its two-hundred day moving average price is $53.95.

Construction Partners (NASDAQ:ROAD - Get Free Report) last announced its earnings results on Friday, August 9th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.54 by $0.05. Construction Partners had a return on equity of 12.00% and a net margin of 3.68%. The business had revenue of $517.80 million for the quarter, compared to analyst estimates of $503.57 million. During the same period in the previous year, the company earned $0.41 earnings per share. The company's revenue for the quarter was up 22.7% compared to the same quarter last year. Analysts forecast that Construction Partners will post 1.4 EPS for the current year.

Hedge Funds Weigh In On Construction Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Conestoga Capital Advisors LLC boosted its stake in Construction Partners by 3.0% in the second quarter. Conestoga Capital Advisors LLC now owns 4,135,202 shares of the company's stock valued at $228,305,000 after acquiring an additional 120,155 shares during the period. Geneva Capital Management LLC boosted its stake in Construction Partners by 8.5% in the first quarter. Geneva Capital Management LLC now owns 3,408,788 shares of the company's stock valued at $191,403,000 after acquiring an additional 268,225 shares during the period. Vanguard Group Inc. raised its holdings in shares of Construction Partners by 3.0% during the first quarter. Vanguard Group Inc. now owns 2,415,461 shares of the company's stock valued at $135,628,000 after buying an additional 69,223 shares during the last quarter. Wasatch Advisors LP raised its holdings in shares of Construction Partners by 188.3% during the first quarter. Wasatch Advisors LP now owns 1,692,328 shares of the company's stock valued at $95,024,000 after buying an additional 1,105,423 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Construction Partners by 2.6% during the second quarter. Dimensional Fund Advisors LP now owns 972,400 shares of the company's stock valued at $53,687,000 after buying an additional 24,828 shares during the last quarter. 94.83% of the stock is currently owned by institutional investors and hedge funds.

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.