Kennedy Capital Management LLC Sells 82,661 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Kennedy Capital Management LLC lessened its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 53.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 72,583 shares of the company’s stock after selling 82,661 shares during the quarter. Kennedy Capital Management LLC owned about 0.14% of Construction Partners worth $4,076,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Construction Partners by 8.6% in the third quarter. Vanguard Group Inc. now owns 2,290,486 shares of the company’s stock valued at $83,740,000 after acquiring an additional 181,017 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Construction Partners by 44.5% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 48,518 shares of the company’s stock valued at $2,112,000 after purchasing an additional 14,936 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Construction Partners during the 4th quarter valued at about $769,000. Arizona State Retirement System lifted its position in Construction Partners by 3.7% in the 4th quarter. Arizona State Retirement System now owns 12,225 shares of the company’s stock worth $532,000 after buying an additional 439 shares during the last quarter. Finally, Moody Aldrich Partners LLC purchased a new stake in Construction Partners in the fourth quarter worth approximately $4,282,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, 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. Two equities 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 presently has an average rating of “Moderate Buy” and a consensus price target of $54.00.

Construction Partners Trading Up 1.2 %

ROAD stock traded up $0.72 during trading on Tuesday, hitting $62.27. 292,001 shares of the company traded hands, compared to its average volume of 353,732. The firm has a market capitalization of $3.28 billion, a PE ratio of 52.99, a P/E/G ratio of 1.49 and a beta of 0.66. Construction Partners, Inc. has a 1 year low of $28.61 and a 1 year high of $63.97. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.28 and a current ratio of 1.64. The company has a 50-day moving average of $57.27 and a 200-day moving average of $52.90.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings data 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 net margin of 3.68% and a return on equity of 12.00%. The firm had revenue of $371.43 million during the quarter, compared to the consensus estimate of $363.12 million. During the same period in the prior year, the firm posted ($0.11) earnings per share. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. Analysts predict that Construction Partners, Inc. will post 1.4 earnings per share for the current fiscal 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.