Construction Partners, Inc. (NASDAQ:ROAD) Shares Acquired by Wasatch Advisors LP

Wasatch Advisors LP increased its position in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 188.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,692,328 shares of the company’s stock after purchasing an additional 1,105,423 shares during the period. Wasatch Advisors LP’s holdings in Construction Partners were worth $95,024,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Moody Aldrich Partners LLC acquired a new position in shares of Construction Partners during the 4th quarter worth about $4,282,000. Dimensional Fund Advisors LP increased its stake in Construction Partners by 13.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 893,748 shares of the company’s stock valued at $38,897,000 after purchasing an additional 105,346 shares during the last quarter. Trexquant Investment LP raised its holdings in Construction Partners by 55.0% during the fourth quarter. Trexquant Investment LP now owns 76,977 shares of the company’s stock worth $3,350,000 after purchasing an additional 27,302 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Construction Partners during the 4th quarter worth approximately $769,000. Finally, Tyro Capital Management LLC acquired a new position in shares of Construction Partners in the 4th quarter valued at $12,410,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Wall Street Analyst Weigh In

ROAD has been the topic of several research analyst reports. Robert W. Baird lifted their price target on shares of Construction Partners from $50.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, May 13th. Sidoti cut Construction Partners from a “buy” rating to a “neutral” rating and set a $59.00 target price on the stock. in a research report on Thursday, March 28th. Two 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $54.00.

Construction Partners Stock Performance

ROAD traded down $0.42 on Tuesday, hitting $53.22. 258,378 shares of the company traded hands, compared to its average volume of 359,807. Construction Partners, Inc. has a 12-month low of $27.96 and a 12-month high of $62.35. The company has a 50 day moving average of $55.61 and a 200-day moving average of $50.87. The company has a quick ratio of 1.28, a current ratio of 1.64 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $2.81 billion, a PE ratio of 45.49, a PEG ratio of 1.30 and a beta of 0.66.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings results on Friday, May 10th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.07) 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 $371.43 million during the quarter, compared to analysts’ expectations of $363.12 million. During the same quarter in the prior year, the business earned ($0.11) earnings per share. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. Sell-side analysts anticipate that Construction Partners, Inc. will post 1.41 earnings per share for the current year.

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.