Covestor Ltd Acquires 781 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Covestor Ltd raised its holdings in Construction Partners, Inc. (NASDAQ:ROAD) by 124.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,409 shares of the company’s stock after buying an additional 781 shares during the quarter. Covestor Ltd’s holdings in Construction Partners were worth $101,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Montag A & Associates Inc. bought a new stake in shares of Construction Partners in the 1st quarter worth approximately $29,000. Versant Capital Management Inc bought a new stake in shares of Construction Partners in the 1st quarter worth approximately $30,000. Johnson Financial Group Inc. bought a new stake in shares of Construction Partners in the 4th quarter worth approximately $66,000. Golden State Wealth Management LLC grew its position in shares of Construction Partners by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,126 shares of the company’s stock worth $81,000 after buying an additional 563 shares during the last quarter. Finally, Manchester Capital Management LLC grew its position in shares of Construction Partners by 9.2% in the 1st quarter. Manchester Capital Management LLC now owns 1,461 shares of the company’s stock worth $105,000 after buying an additional 123 shares during the last quarter. 94.83% of the stock is currently owned by institutional investors.

Construction Partners Trading Up 1.2%

Construction Partners stock opened at $113.56 on Tuesday. The company has a current ratio of 1.42, a quick ratio of 1.13 and a debt-to-equity ratio of 1.63. The business’s fifty day simple moving average is $104.73 and its two-hundred day simple moving average is $89.64. Construction Partners, Inc. has a 12 month low of $56.52 and a 12 month high of $116.53. The company has a market capitalization of $6.36 billion, a price-to-earnings ratio of 82.89, a price-to-earnings-growth ratio of 1.46 and a beta of 1.00.

Construction Partners (NASDAQ:ROAD) last released its earnings results on Thursday, August 7th. The company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). Construction Partners had a return on equity of 12.75% and a net margin of 3.04%. The company had revenue of $779.28 million during the quarter, compared to the consensus estimate of $810.47 million. During the same period last year, the firm posted $0.59 earnings per share. The company’s revenue was up 50.5% compared to the same quarter last year. As a group, equities analysts predict that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ROAD shares. Raymond James Financial restated a “strong-buy” rating on shares of Construction Partners in a research report on Friday. Robert W. Baird set a $122.00 price target on Construction Partners and gave the company an “outperform” rating in a research report on Friday. Finally, Baird R W upgraded Construction Partners from a “hold” rating to a “strong-buy” rating in a research report on Friday. One analyst has rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $101.00.

Construction Partners Company 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.