Royce & Associates LP Sells 11,920 Shares of Construction Partners, Inc. $ROAD

Royce & Associates LP lowered its position in Construction Partners, Inc. (NASDAQ:ROAD) by 5.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 197,454 shares of the company’s stock after selling 11,920 shares during the period. Royce & Associates LP owned about 0.35% of Construction Partners worth $21,434,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Tyro Capital Management LLC boosted its stake in Construction Partners by 6.8% in the 3rd quarter. Tyro Capital Management LLC now owns 164,488 shares of the company’s stock worth $20,890,000 after purchasing an additional 10,465 shares during the period. AGF Management Ltd. bought a new position in Construction Partners in the 3rd quarter worth approximately $15,062,000. Telligent Fund LP bought a new position in Construction Partners in the 3rd quarter worth approximately $1,016,000. American Century Companies Inc. boosted its stake in Construction Partners by 5.6% in the 3rd quarter. American Century Companies Inc. now owns 1,039,928 shares of the company’s stock worth $132,071,000 after purchasing an additional 55,049 shares during the period. Finally, First Trust Advisors LP boosted its stake in Construction Partners by 33.2% in the 3rd quarter. First Trust Advisors LP now owns 1,059,566 shares of the company’s stock worth $134,565,000 after purchasing an additional 264,069 shares during the period. Institutional investors own 94.83% of the company’s stock.

Construction Partners Stock Up 2.0%

NASDAQ ROAD opened at $115.08 on Wednesday. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.21 and a current ratio of 1.53. The company has a market capitalization of $6.51 billion, a P/E ratio of 50.47, a P/E/G ratio of 0.94 and a beta of 0.92. Construction Partners, Inc. has a one year low of $93.22 and a one year high of $151.00. The stock has a 50 day moving average price of $117.30 and a 200-day moving average price of $116.32.

Construction Partners (NASDAQ:ROAD) last posted its earnings results on Friday, May 8th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.23. The firm had revenue of $769.20 million during the quarter, compared to the consensus estimate of $678.46 million. Construction Partners had a return on equity of 15.22% and a net margin of 3.90%.The company’s quarterly revenue was up 34.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.08 EPS. As a group, equities analysts predict that Construction Partners, Inc. will post 2.95 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ROAD has been the subject of several recent analyst reports. B. Riley Financial upgraded Construction Partners from a “neutral” rating to a “buy” rating and upped their price target for the stock from $117.00 to $135.00 in a research note on Thursday, April 2nd. DA Davidson upped their price target on Construction Partners from $120.00 to $130.00 and gave the stock a “neutral” rating in a research note on Friday, February 6th. Robert W. Baird upped their price target on Construction Partners from $129.00 to $169.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Zacks Research downgraded Construction Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $140.00 price target on shares of Construction Partners in a research note on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Construction Partners currently 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.