Construction Partners, Inc. (NASDAQ:ROAD) Stake Decreased by Mesirow Financial Investment Management Inc.

Mesirow Financial Investment Management Inc. cut its holdings in Construction Partners, Inc. (NASDAQ:ROAD) by 23.2% during the first quarter, Holdings Channel reports. The institutional investor owned 6,320 shares of the company’s stock after selling 1,909 shares during the quarter. Construction Partners comprises 1.8% of Mesirow Financial Investment Management Inc.’s investment portfolio, making the stock its 10th biggest holding. Mesirow Financial Investment Management Inc.’s holdings in Construction Partners were worth $355,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently modified their holdings of ROAD. Deutsche Bank AG boosted its position in Construction Partners by 17.0% during the third quarter. Deutsche Bank AG now owns 21,212 shares of the company’s stock worth $776,000 after purchasing an additional 3,080 shares in the last quarter. Rhumbline Advisers boosted its position in Construction Partners by 4.5% during the third quarter. Rhumbline Advisers now owns 54,716 shares of the company’s stock worth $2,000,000 after purchasing an additional 2,349 shares in the last quarter. FMR LLC boosted its position in Construction Partners by 1.0% during the third quarter. FMR LLC now owns 637,763 shares of the company’s stock worth $23,317,000 after purchasing an additional 6,304 shares in the last quarter. Mariner LLC boosted its position in Construction Partners by 89.2% during the third quarter. Mariner LLC now owns 15,330 shares of the company’s stock worth $560,000 after purchasing an additional 7,228 shares in the last quarter. Finally, Stifel Financial Corp boosted its position in Construction Partners by 2.9% during the third quarter. Stifel Financial Corp now owns 127,023 shares of the company’s stock worth $4,644,000 after purchasing an additional 3,628 shares in the last quarter. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Sidoti cut Construction Partners from a “buy” rating to a “neutral” rating and set a $59.00 price target for the company. in a report on Thursday, March 28th. Robert W. Baird boosted their price target on Construction Partners from $50.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. Two investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.00.

Construction Partners Trading Up 2.1 %

Construction Partners stock traded up $1.13 during trading on Wednesday, hitting $54.35. The company’s stock had a trading volume of 87,161 shares, compared to its average volume of 357,660. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 45.49, a P/E/G ratio of 1.30 and a beta of 0.66. The stock’s fifty day moving average is $55.61 and its 200 day moving average is $50.87. Construction Partners, Inc. has a 1-year low of $27.96 and a 1-year high of $62.35. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.28 and a current ratio of 1.64.

Construction Partners (NASDAQ:ROAD) last released its earnings results on Friday, May 10th. The company reported ($0.02) EPS for the quarter, beating 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 firm had revenue of $371.43 million during the quarter, compared to analyst estimates of $363.12 million. During the same period in the prior year, the firm posted ($0.11) earnings per share. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. As a group, equities research analysts predict that Construction Partners, Inc. will post 1.41 EPS for the current year.

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.