Robert W. Baird Forecasts Strong Price Appreciation for Construction Partners (NASDAQ:ROAD) Stock

Construction Partners (NASDAQ:ROAD) had its price objective boosted by Robert W. Baird from $100.00 to $102.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other equities analysts also recently issued reports on the stock. Raymond James cut their price objective on shares of Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating on the stock in a report on Thursday, January 16th. DA Davidson restated a “neutral” rating and set a $95.00 price objective on shares of Construction Partners in a report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $85.40.

Construction Partners Stock Performance

ROAD stock opened at $80.60 on Monday. The firm has a market cap of $4.50 billion, a price-to-earnings ratio of 61.06, a PEG ratio of 1.25 and a beta of 0.74. The firm has a 50-day simple moving average of $88.85 and a two-hundred day simple moving average of $79.32. Construction Partners has a one year low of $45.22 and a one year high of $103.69. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.26 and a current ratio of 1.54.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings data on Thursday, November 21st. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.01). Construction Partners had a net margin of 3.78% and a return on equity of 12.90%. The company had revenue of $538.16 million for the quarter, compared to analyst estimates of $538.04 million. During the same quarter last year, the company earned $0.59 EPS. The business’s revenue was up 13.3% compared to the same quarter last year. On average, equities analysts forecast that Construction Partners will post 1.95 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Todd Keith Andrews sold 2,511 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $95.86, for a total value of $240,704.46. Following the transaction, the chief accounting officer now owns 19,339 shares in the company, valued at approximately $1,853,836.54. This represents a 11.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles E. Owens sold 46,596 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $101.33, for a total value of $4,721,572.68. Following the completion of the sale, the director now owns 203,404 shares in the company, valued at approximately $20,610,927.32. This represents a 18.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 139,225 shares of company stock worth $13,904,358. 16.36% of the stock is owned by company insiders.

Institutional Investors Weigh In On Construction Partners

Several hedge funds have recently bought and sold shares of ROAD. Vanguard Group Inc. boosted its position in Construction Partners by 42.8% in the 4th quarter. Vanguard Group Inc. now owns 3,492,368 shares of the company’s stock worth $308,935,000 after purchasing an additional 1,046,617 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Construction Partners in the 4th quarter worth approximately $42,527,000. Allspring Global Investments Holdings LLC boosted its position in Construction Partners by 197.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 616,032 shares of the company’s stock worth $54,104,000 after purchasing an additional 408,610 shares in the last quarter. Fred Alger Management LLC purchased a new stake in Construction Partners in the 3rd quarter worth approximately $16,535,000. Finally, Franklin Resources Inc. boosted its position in Construction Partners by 6,332.5% in the 4th quarter. Franklin Resources Inc. now owns 235,880 shares of the company’s stock worth $20,866,000 after purchasing an additional 232,213 shares in the last quarter. Hedge funds and other institutional investors 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.