Cornerstone Investment Partners LLC Invests $209,000 in Construction Partners, Inc. (NASDAQ:ROAD)

Cornerstone Investment Partners LLC purchased a new position in shares of Construction Partners, Inc. (NASDAQ:ROAD) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,800 shares of the company’s stock, valued at approximately $209,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ROAD. Bank of New York Mellon Corp boosted its holdings in Construction Partners by 11.7% in the first quarter. Bank of New York Mellon Corp now owns 573,400 shares of the company’s stock valued at $15,012,000 after acquiring an additional 59,957 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in Construction Partners in the first quarter valued at approximately $229,000. MetLife Investment Management LLC boosted its holdings in Construction Partners by 82.3% in the first quarter. MetLife Investment Management LLC now owns 21,313 shares of the company’s stock valued at $558,000 after acquiring an additional 9,622 shares during the last quarter. Rhumbline Advisers boosted its holdings in Construction Partners by 38.5% in the first quarter. Rhumbline Advisers now owns 34,539 shares of the company’s stock valued at $904,000 after acquiring an additional 9,598 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in Construction Partners by 23.2% in the first quarter. BlackRock Inc. now owns 2,655,171 shares of the company’s stock valued at $69,511,000 after acquiring an additional 500,697 shares during the last quarter. 94.83% of the stock is currently owned by institutional investors.

Construction Partners Price Performance

Construction Partners stock opened at $50.03 on Friday. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of 46.32, a PEG ratio of 1.33 and a beta of 0.65. Construction Partners, Inc. has a 52-week low of $24.20 and a 52-week high of $58.65. The stock’s 50 day moving average price is $51.82 and its two-hundred day moving average price is $45.39. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.39 and a current ratio of 1.75.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings results on Friday, February 9th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.06. Construction Partners had a return on equity of 11.56% and a net margin of 3.52%. The firm had revenue of $396.51 million for the quarter, compared to analysts’ expectations of $393.62 million. During the same period in the prior year, the business earned $0.04 EPS. The company’s revenue for the quarter was up 16.0% compared to the same quarter last year. On average, equities analysts predict that Construction Partners, Inc. will post 1.34 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on ROAD shares. Stifel Nicolaus upped their target price on Construction Partners from $51.00 to $57.00 and gave the company a “buy” rating in a report on Monday, February 12th. Robert W. Baird cut Construction Partners from an “outperform” rating to a “neutral” rating and upped their target price for the company from $46.00 to $50.00 in a report on Monday, February 12th. Finally, Sidoti cut Construction Partners from a “buy” rating to a “neutral” rating and set a $59.00 target price on the stock. in a report on Thursday, March 28th. Two equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.00.

Construction Partners Profile

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.