Construction Partners (NASDAQ:ROAD) Reaches New 52-Week High – Still a Buy?

Construction Partners, Inc. (NASDAQ:ROAD) shares hit a new 52-week high during trading on Monday . The stock traded as high as $100.99 and last traded at $100.99, with a volume of 1412 shares traded. The stock had previously closed at $99.98.

Analysts Set New Price Targets

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

Construction Partners Trading Down 1.7 %

The company has a market capitalization of $5.25 billion, a price-to-earnings ratio of 75.39, a P/E/G ratio of 1.22 and a beta of 0.65. The company has a current ratio of 1.60, a quick ratio of 1.30 and a debt-to-equity ratio of 0.82. The business’s 50 day moving average price is $79.76 and its two-hundred day moving average price is $66.10.

Construction Partners (NASDAQ:ROAD) last issued its earnings results on Thursday, November 21st. The company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). The company had revenue of $538.16 million during the quarter, compared to analyst estimates of $538.04 million. Construction Partners had a net margin of 3.78% and a return on equity of 13.15%. The business’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.59 EPS. On average, equities analysts predict that Construction Partners, Inc. will post 1.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Construction Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Clearbridge Investments LLC acquired a new position in shares of Construction Partners in the second quarter valued at approximately $20,360,000. Fred Alger Management LLC acquired a new stake in Construction Partners during the 3rd quarter worth approximately $16,535,000. Segall Bryant & Hamill LLC bought a new stake in Construction Partners during the 3rd quarter worth approximately $10,377,000. Driehaus Capital Management LLC increased its position in Construction Partners by 31.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 569,440 shares of the company’s stock valued at $31,439,000 after acquiring an additional 137,572 shares during the period. Finally, Conestoga Capital Advisors LLC raised its stake in shares of Construction Partners by 3.0% during 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 last quarter. 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.