Summit Creek Advisors LLC Grows Position in Construction Partners, Inc. (NASDAQ:ROAD)

Summit Creek Advisors LLC grew its position in Construction Partners, Inc. (NASDAQ:ROAD) by 10.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 255,978 shares of the company’s stock after purchasing an additional 24,401 shares during the period. Construction Partners makes up approximately 2.7% of Summit Creek Advisors LLC’s holdings, making the stock its 14th largest holding. Summit Creek Advisors LLC owned approximately 0.46% of Construction Partners worth $18,397,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ROAD. LPL Financial LLC lifted its position in Construction Partners by 16.3% during the first quarter. LPL Financial LLC now owns 45,371 shares of the company’s stock valued at $3,261,000 after buying an additional 6,365 shares in the last quarter. Van Berkom & Associates Inc. purchased a new position in shares of Construction Partners in the 1st quarter valued at $991,000. Equitable Trust Co. purchased a new position in shares of Construction Partners in the 1st quarter valued at $243,000. ANB Bank lifted its holdings in shares of Construction Partners by 4.2% during the 1st quarter. ANB Bank now owns 4,105 shares of the company’s stock valued at $295,000 after acquiring an additional 164 shares in the last quarter. Finally, Royce & Associates LP boosted its position in Construction Partners by 17.0% during the 1st quarter. Royce & Associates LP now owns 280,264 shares of the company’s stock worth $20,143,000 after purchasing an additional 40,690 shares during the period. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Construction Partners Stock Up 2.0%

Shares of NASDAQ:ROAD opened at $105.44 on Monday. The company has a market capitalization of $5.91 billion, a price-to-earnings ratio of 90.12, a price-to-earnings-growth ratio of 1.31 and a beta of 0.96. The company has a 50 day moving average of $105.05 and a two-hundred day moving average of $88.64. Construction Partners, Inc. has a 52-week low of $51.63 and a 52-week high of $114.74. The company has a quick ratio of 1.13, a current ratio of 1.42 and a debt-to-equity ratio of 1.63.

Construction Partners (NASDAQ:ROAD) last announced its earnings results on Friday, May 9th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.12. Construction Partners had a net margin of 2.80% and a return on equity of 11.49%. The business had revenue of $571.65 million during the quarter, compared to the consensus estimate of $559.61 million. During the same period in the prior year, the firm earned ($0.02) earnings per share. The business’s quarterly revenue was up 53.9% compared to the same quarter last year. As a group, analysts forecast that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Raymond James Financial cut their price objective on Construction Partners from $104.00 to $100.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, April 29th.

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.