Construction Partners (NASDAQ:ROAD) Stock Price Up 8.1%

Construction Partners Inc (NASDAQ:ROAD) shares rose 8.1% during trading on Wednesday . The company traded as high as $15.92 and last traded at $15.57, approximately 2,348,306 shares were traded during mid-day trading. An increase of 1,672% from the average daily volume of 132,494 shares. The stock had previously closed at $14.40.

ROAD has been the subject of a number of recent analyst reports. Imperial Capital restated an “outperform” rating and issued a $17.25 price objective (up previously from $15.50) on shares of Construction Partners in a research report on Thursday, August 15th. Zacks Investment Research upgraded shares of Construction Partners from a “hold” rating to a “strong-buy” rating and set a $17.00 price objective for the company in a research report on Wednesday, August 14th. Raymond James upped their price objective on shares of Construction Partners from $15.00 to $16.50 and gave the company a “strong-buy” rating in a research report on Monday, August 12th. Finally, ValuEngine cut shares of Construction Partners from a “hold” rating to a “sell” rating in a research report on Monday. One analyst has rated the stock with a sell rating, two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $16.44.

The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.69 and a current ratio of 1.97. The stock’s 50-day moving average is $15.04 and its 200 day moving average is $13.67. The firm has a market cap of $845.88 million, a P/E ratio of 18.91 and a beta of 1.90.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.04. Construction Partners had a net margin of 5.48% and a return on equity of 13.47%. The business had revenue of $227.30 million during the quarter, compared to analysts’ expectations of $229.67 million. During the same quarter in the prior year, the company earned $0.29 EPS. The firm’s quarterly revenue was up 16.5% on a year-over-year basis. On average, research analysts anticipate that Construction Partners Inc will post 0.85 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in the business. Conestoga Capital Advisors LLC increased its holdings in Construction Partners by 3.9% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 27,360 shares of the company’s stock worth $411,000 after purchasing an additional 1,030 shares in the last quarter. Anchor Capital Advisors LLC increased its holdings in Construction Partners by 2.1% during the 2nd quarter. Anchor Capital Advisors LLC now owns 96,161 shares of the company’s stock worth $1,444,000 after purchasing an additional 1,995 shares in the last quarter. Strs Ohio bought a new position in Construction Partners during the 2nd quarter worth about $48,000. Bank of Montreal Can bought a new position in Construction Partners during the 2nd quarter worth about $50,000. Finally, Acadian Asset Management LLC bought a new position in Construction Partners during the 2nd quarter worth about $56,000. Hedge funds and other institutional investors own 23.31% of the company’s stock.

Construction Partners Company Profile (NASDAQ:ROAD)

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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