TimesSquare Capital Management LLC Acquires 57,327 Shares of Construction Partners, Inc. $ROAD

TimesSquare Capital Management LLC grew its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 27.6% during the fourth quarter, Holdings Channel reports. The firm owned 265,373 shares of the company’s stock after purchasing an additional 57,327 shares during the period. TimesSquare Capital Management LLC’s holdings in Construction Partners were worth $28,806,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. TD Waterhouse Canada Inc. bought a new position in shares of Construction Partners during the 3rd quarter valued at $25,000. AlphaQuest LLC grew its stake in Construction Partners by 292.5% in the 3rd quarter. AlphaQuest LLC now owns 208 shares of the company’s stock valued at $26,000 after buying an additional 155 shares during the last quarter. Morse Asset Management Inc grew its stake in Construction Partners by 300.0% in the 3rd quarter. Morse Asset Management Inc now owns 240 shares of the company’s stock valued at $30,000 after buying an additional 180 shares during the last quarter. Danske Bank A S acquired a new position in Construction Partners in the 3rd quarter valued at $38,000. Finally, Quarry LP acquired a new position in Construction Partners in the 3rd quarter valued at $42,000. Institutional investors own 94.83% of the company’s stock.

Construction Partners Stock Performance

NASDAQ ROAD opened at $114.95 on Tuesday. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.53 and a quick ratio of 1.21. The firm has a market capitalization of $6.50 billion, a price-to-earnings ratio of 50.42, a P/E/G ratio of 0.98 and a beta of 0.92. The company’s fifty day moving average is $118.11 and its two-hundred day moving average is $116.39. Construction Partners, Inc. has a 52-week low of $93.22 and a 52-week high of $151.00.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings results on Friday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.23. The company had revenue of $769.20 million for the quarter, compared to analyst estimates of $678.46 million. Construction Partners had a net margin of 3.90% and a return on equity of 15.22%. The business’s quarterly revenue was up 34.6% on a year-over-year basis. During the same period last year, the business posted $0.08 EPS. Equities research analysts forecast that Construction Partners, Inc. will post 2.95 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Robert W. Baird raised their target price on shares of Construction Partners from $129.00 to $169.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Weiss Ratings upgraded shares of Construction Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, April 21st. Raymond James Financial reiterated a “strong-buy” rating and issued a $140.00 target price on shares of Construction Partners in a research note on Monday, April 27th. DA Davidson raised their target price on shares of Construction Partners from $120.00 to $130.00 and gave the company a “neutral” rating in a research note on Friday, February 6th. Finally, B. Riley Financial upgraded shares of Construction Partners from a “neutral” rating to a “buy” rating and raised their target price for the company from $117.00 to $135.00 in a research note on Thursday, April 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $137.80.

About Construction Partners

Construction Partners, Inc (NASDAQ: ROAD) is a specialty contractor and infrastructure solutions provider focused on road building, paving, site development and aggregate production. The company delivers a comprehensive suite of civil construction services, including roadway paving and milling, site grading and preparation, stormwater and utility installation, and full-scale asphalt plant operations. By integrating materials production with contracting capabilities, the firm aims to streamline project delivery and maintain quality control across its contracting and materials businesses.

At the heart of Construction Partners’ operations are its network of asphalt plants, quarries and aggregate production facilities.