Construction Partners (NASDAQ:ROAD) Given New $92.00 Price Target at Robert W. Baird

Construction Partners (NASDAQ:ROAD) had its target price lifted by stock analysts at Robert W. Baird from $68.00 to $92.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Robert W. Baird’s price objective suggests a potential upside of 8.62% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Stifel Nicolaus lifted their price objective on Construction Partners from $61.00 to $67.00 and gave the company a “buy” rating in a report on Monday, August 12th. DA Davidson lifted their price objective on Construction Partners from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Finally, Raymond James boosted their price target on Construction Partners from $69.00 to $72.00 and gave the stock a “strong-buy” rating in a report on Monday, August 12th. Three equities 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 company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $69.00.

Construction Partners Trading Up 13.4 %

Shares of ROAD opened at $84.70 on Tuesday. The company has a quick ratio of 1.30, a current ratio of 1.60 and a debt-to-equity ratio of 0.82. Construction Partners has a 12-month low of $36.70 and a 12-month high of $86.00. The firm has a market capitalization of $4.46 billion, a PE ratio of 72.39, a price-to-earnings-growth ratio of 1.35 and a beta of 0.67. The stock’s fifty day simple moving average is $67.11 and its 200-day simple moving average is $60.07.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings data 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 13.34% and a net margin of 4.01%. The business had revenue of $517.80 million during the quarter, compared to the consensus estimate of $503.57 million. During the same period last year, the company earned $0.41 earnings per share. Construction Partners’s quarterly revenue was up 22.7% on a year-over-year basis. As a group, research analysts predict that Construction Partners will post 1.43 earnings per share for the current year.

Insiders Place Their Bets

In other Construction Partners news, Director Mark R. Matteson sold 25,408 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $61.97, for a total value of $1,574,533.76. Following the sale, the director now owns 102,592 shares in the company, valued at approximately $6,357,626.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 18.80% of the company’s stock.

Institutional Investors Weigh In On Construction Partners

A number of institutional investors have recently made changes to their positions in ROAD. Wasatch Advisors LP grew its position in shares of Construction Partners by 188.3% in the 1st 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. Clearbridge Investments LLC bought a new stake in shares of Construction Partners during the 2nd quarter valued at about $20,360,000. TimesSquare Capital Management LLC bought a new stake in shares of Construction Partners during the 1st quarter valued at about $19,832,000. Geneva Capital Management LLC boosted its position in shares of Construction Partners by 8.5% during the 1st quarter. Geneva Capital Management LLC now owns 3,408,788 shares of the company’s stock valued at $191,403,000 after purchasing an additional 268,225 shares in the last quarter. Finally, Driehaus Capital Management LLC boosted its position in shares of Construction Partners by 31.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 569,440 shares of the company’s stock valued at $31,439,000 after purchasing an additional 137,572 shares in the last quarter. Institutional investors own 94.83% of the company’s stock.

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.