Construction Partners (NASDAQ:ROAD – Free Report) had its target price lifted by Raymond James from $69.00 to $72.00 in a research report report published on Monday morning, Benzinga reports. The brokerage currently has a strong-buy rating on the stock.
A number of other research firms also recently issued reports on ROAD. Stifel Nicolaus raised their price target on Construction Partners from $61.00 to $67.00 and gave the stock 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 stock a neutral rating in a research note on Monday, May 13th.
Check Out Our Latest Stock Report on Construction Partners
Construction Partners Stock Up 1.1 %
Construction Partners (NASDAQ:ROAD – Get Free Report) last issued its earnings results on Friday, August 9th. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.54 by $0.05. Construction Partners had a return on equity of 12.00% and a net margin of 3.68%. The business had revenue of $517.80 million for the quarter, compared to the consensus estimate of $503.57 million. During the same period last year, the business posted $0.41 EPS. The company’s revenue was up 22.7% compared to the same quarter last year. On average, equities analysts predict that Construction Partners will post 1.4 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Construction Partners
Institutional investors have recently bought and sold shares of the stock. ICA Group Wealth Management LLC bought a new position in Construction Partners in the 4th quarter worth $30,000. Covestor Ltd raised its holdings in Construction Partners by 17,700.0% in the 1st quarter. Covestor Ltd now owns 534 shares of the company’s stock worth $30,000 after purchasing an additional 531 shares during the period. Benjamin F. Edwards & Company Inc. raised its holdings in Construction Partners by 244.4% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,178 shares of the company’s stock worth $66,000 after purchasing an additional 836 shares during the period. USA Financial Formulas bought a new position in Construction Partners in the 4th quarter worth $72,000. Finally, YHB Investment Advisors Inc. bought a new stake in Construction Partners during the first quarter valued at about $116,000. 94.83% of the stock is owned by institutional investors.
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.
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