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

Construction Partners (NASDAQ:ROAD) had its price target upped by stock analysts at Robert W. Baird from $100.00 to $102.00 in a report released on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s price objective would suggest a potential upside of 25.60% from the company’s current price.

Several other analysts also recently commented on the stock. DA Davidson reaffirmed a “neutral” rating and issued a $95.00 price objective on shares of Construction Partners in a report on Thursday, January 30th. Raymond James lowered their price target 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. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Construction Partners currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.40.

Construction Partners Stock Performance

Shares of ROAD opened at $81.21 on Monday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.26 and a current ratio of 1.54. The stock has a 50-day moving average of $89.26 and a two-hundred day moving average of $79.31. The stock has a market cap of $4.54 billion, a P/E ratio of 61.52, a P/E/G ratio of 1.25 and a beta of 0.74. Construction Partners has a one year low of $45.22 and a one year high of $103.69.

Construction Partners (NASDAQ:ROAD) last released its earnings results on Thursday, November 21st. The company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). The firm had revenue of $538.16 million for the quarter, compared to analyst estimates of $538.04 million. Construction Partners had a return on equity of 12.90% and a net margin of 3.78%. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period last year, the firm earned $0.59 EPS. As a group, research analysts predict that Construction Partners will post 1.95 EPS for the current year.

Insider Transactions at Construction Partners

In other news, CAO Todd Keith Andrews sold 2,511 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $95.86, for a total transaction of $240,704.46. Following the sale, the chief accounting officer now directly owns 19,339 shares in the company, valued at $1,853,836.54. This trade represents a 11.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John L. Harper sold 6,000 shares of Construction Partners stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $94.41, for a total value of $566,460.00. Following the completion of the transaction, the senior vice president now owns 154,856 shares of the company’s stock, valued at approximately $14,619,954.96. This represents a 3.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 139,225 shares of company stock valued at $13,904,358 in the last 90 days. 16.36% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Construction Partners

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Construction Partners by 42.8% during the fourth quarter. Vanguard Group Inc. now owns 3,492,368 shares of the company’s stock worth $308,935,000 after acquiring an additional 1,046,617 shares during the period. State Street Corp increased its stake in shares of Construction Partners by 2.7% during the third quarter. State Street Corp now owns 1,004,867 shares of the company’s stock worth $70,140,000 after purchasing an additional 26,189 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Construction Partners by 197.0% during the fourth 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. Raymond James Financial Inc. acquired a new position in shares of Construction Partners during the 4th quarter worth about $42,527,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Construction Partners by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 463,000 shares of the company’s stock valued at $40,957,000 after buying an additional 9,788 shares in the last quarter. Institutional investors and hedge funds 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.