Loomis Sayles & Co. L P Cuts Stake in Construction Partners, Inc. (NASDAQ:ROAD)

Loomis Sayles & Co. L P lessened its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 2.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 747,412 shares of the company’s stock after selling 16,960 shares during the period. Loomis Sayles & Co. L P’s holdings in Construction Partners were worth $52,169,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in shares of Construction Partners by 24.4% during the third quarter. GAMMA Investing LLC now owns 873 shares of the company’s stock worth $61,000 after acquiring an additional 171 shares during the last quarter. KBC Group NV increased its stake in Construction Partners by 35.0% during the 3rd quarter. KBC Group NV now owns 1,417 shares of the company’s stock valued at $99,000 after purchasing an additional 367 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Construction Partners by 55.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,831 shares of the company’s stock worth $101,000 after buying an additional 653 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of Construction Partners during the second quarter valued at $116,000. Finally, Public Employees Retirement Association of Colorado purchased a new stake in shares of Construction Partners during the second quarter valued at $162,000. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Construction Partners Stock Performance

NASDAQ ROAD opened at $101.28 on Tuesday. The company has a current ratio of 1.60, a quick ratio of 1.30 and a debt-to-equity ratio of 0.82. Construction Partners, Inc. has a twelve month low of $39.79 and a twelve month high of $102.57. The stock has a 50-day moving average of $79.76 and a 200 day moving average of $66.10. The stock has a market capitalization of $5.34 billion, a price-to-earnings ratio of 76.73, a PEG ratio of 1.22 and a beta of 0.65.

Construction Partners (NASDAQ:ROAD) last released its earnings results on Thursday, November 21st. The company reported $0.56 earnings per share (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 business had revenue of $538.16 million for the quarter, compared to analysts’ expectations of $538.04 million. During the same period in the previous year, the company earned $0.59 EPS. Construction Partners’s quarterly revenue was up 13.3% compared to the same quarter last year. Sell-side analysts anticipate that Construction Partners, Inc. will post 1.91 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on ROAD. Stifel Nicolaus lifted their price target on Construction Partners from $61.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. DA Davidson lifted their price target on Construction Partners from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Robert W. Baird boosted their price target on Construction Partners from $68.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, Raymond James raised their price objective on shares of Construction Partners from $69.00 to $72.00 and gave the stock a “strong-buy” rating in a research note on Monday, August 12th. Three research 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $69.00.

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.