Construction Partners (NASDAQ:ROAD – Free Report) had its price objective boosted by Raymond James from $69.00 to $72.00 in a research note released on Monday, Benzinga reports. The brokerage currently has a strong-buy rating on the stock.
ROAD has been the subject of several other research reports. Stifel Nicolaus lifted their price objective on Construction Partners from $61.00 to $67.00 and gave the company a buy rating in a research note on Monday. Robert W. Baird raised their price target on Construction Partners from $50.00 to $60.00 and gave the company a neutral rating in a report on Monday, May 13th.
View Our Latest Research Report on Construction Partners
Construction Partners Stock Performance
Construction Partners (NASDAQ:ROAD – Get Free Report) last released its earnings results on Friday, August 9th. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.05. Construction Partners had a net margin of 3.68% and a return on equity of 12.00%. The firm had revenue of $517.80 million during the quarter, compared to the consensus estimate of $503.57 million. During the same period in the prior year, the firm earned $0.41 EPS. The company’s revenue was up 22.7% compared to the same quarter last year. As a group, equities analysts predict that Construction Partners will post 1.4 earnings per share for the current year.
Institutional Investors Weigh In On Construction Partners
Hedge funds have recently added to or reduced their stakes in the stock. ICA Group Wealth Management LLC bought a new stake in Construction Partners in the 4th quarter worth about $30,000. Covestor Ltd raised its holdings in shares of Construction Partners by 17,700.0% during the first quarter. Covestor Ltd now owns 534 shares of the company’s stock valued at $30,000 after purchasing an additional 531 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in Construction Partners by 244.4% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,178 shares of the company’s stock valued at $66,000 after purchasing an additional 836 shares during the period. USA Financial Formulas purchased a new stake in Construction Partners in the fourth quarter worth approximately $72,000. Finally, YHB Investment Advisors Inc. bought a new stake in Construction Partners in the 1st quarter worth approximately $116,000. 94.83% of the stock is owned by institutional investors.
About Construction Partners
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.
See Also
- Five stocks we like better than Construction Partners
- 3 Stocks to Protect Your Portfolio from the Coronavirus Contagion
- 3 Small Cap Stocks Insiders Are Actively Buying
- Stock Analyst Ratings and Canadian Analyst Ratings
- Market Turbulence: Time to Snap Up Magnificent Seven Stocks?
- Stock Sentiment Analysis: How it Works
- Buy the Dip in Home Depot, But Wait for It to Bottom First
Receive News & Ratings for Construction Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Construction Partners and related companies with MarketBeat.com's FREE daily email newsletter.