Nicolet Advisory Services LLC Makes New $208,000 Investment in Construction Partners, Inc. (NASDAQ:ROAD)

Nicolet Advisory Services LLC bought a new position in shares of Construction Partners, Inc. (NASDAQ:ROAD) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,091 shares of the company’s stock, valued at approximately $208,000.

Several other institutional investors have also recently made changes to their positions in ROAD. Vanguard Group Inc. grew its stake in Construction Partners by 3.0% in the first quarter. Vanguard Group Inc. now owns 2,415,461 shares of the company’s stock worth $135,628,000 after purchasing an additional 69,223 shares during the period. Ninepoint Partners LP purchased a new stake in shares of Construction Partners in the 2nd quarter worth about $954,000. Engle Capital Management L.P. bought a new position in shares of Construction Partners in the 2nd quarter worth about $5,742,000. Segall Bryant & Hamill LLC bought a new position in shares of Construction Partners in the 3rd quarter worth about $10,377,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in Construction Partners by 47.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 207,422 shares of the company’s stock worth $14,478,000 after acquiring an additional 67,150 shares in the last quarter. Institutional investors own 94.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ROAD shares. Robert W. Baird lifted their target price on shares of Construction Partners from $68.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. DA Davidson increased their target price on Construction Partners from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Raymond James lifted their price target on Construction Partners from $69.00 to $72.00 and gave the stock a “strong-buy” rating in a research report on Monday, August 12th. Finally, Stifel Nicolaus increased their price objective on shares of Construction Partners from $61.00 to $67.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Construction Partners currently has a consensus rating of “Moderate Buy” and an average target price of $69.00.

Construction Partners Trading Up 3.2 %

Construction Partners stock opened at $99.98 on Monday. Construction Partners, Inc. has a one year low of $39.79 and a one year high of $100.70. The business’s fifty day moving average is $79.08 and its 200 day moving average is $65.77. The stock has a market capitalization of $5.27 billion, a PE ratio of 75.74, a price-to-earnings-growth ratio of 1.22 and a beta of 0.65. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.60 and a quick ratio of 1.30.

Construction Partners (NASDAQ:ROAD) last announced its quarterly 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). Construction Partners had a return on equity of 13.15% and a net margin of 3.78%. The company had revenue of $538.16 million during the quarter, compared to the consensus estimate of $538.04 million. During the same quarter in the prior year, the firm earned $0.59 earnings per share. The business’s revenue was up 13.3% compared to the same quarter last year. On average, sell-side analysts predict that Construction Partners, Inc. will post 1.91 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.