Construction Partners, Inc. $ROAD Shares Bought by Rhumbline Advisers

Rhumbline Advisers raised its position in Construction Partners, Inc. (NASDAQ:ROAD) by 11.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 70,644 shares of the company’s stock after buying an additional 7,259 shares during the period. Rhumbline Advisers’ holdings in Construction Partners were worth $7,508,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of ROAD. LPL Financial LLC grew its position in shares of Construction Partners by 16.3% during the 1st quarter. LPL Financial LLC now owns 45,371 shares of the company’s stock valued at $3,261,000 after acquiring an additional 6,365 shares during the period. Manchester Capital Management LLC boosted its position in Construction Partners by 9.2% during the first quarter. Manchester Capital Management LLC now owns 1,461 shares of the company’s stock worth $105,000 after purchasing an additional 123 shares in the last quarter. Vanguard Group Inc. grew its holdings in Construction Partners by 5.0% in the first quarter. Vanguard Group Inc. now owns 3,666,331 shares of the company’s stock valued at $263,499,000 after purchasing an additional 173,963 shares during the period. Swiss National Bank increased its position in shares of Construction Partners by 5.7% in the first quarter. Swiss National Bank now owns 91,000 shares of the company’s stock valued at $6,540,000 after buying an additional 4,900 shares in the last quarter. Finally, Cynosure Group LLC acquired a new position in shares of Construction Partners during the 1st quarter worth approximately $360,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Robert W. Baird decreased their target price on Construction Partners from $131.00 to $124.00 and set an “outperform” rating on the stock in a research report on Friday, November 21st. Zacks Research downgraded shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Raymond James Financial reissued a “strong-buy” rating and set a $135.00 target price (up previously from $120.00) on shares of Construction Partners in a research note on Tuesday, October 21st. DA Davidson restated a “neutral” rating and set a $120.00 price target on shares of Construction Partners in a research report on Friday, November 21st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Construction Partners in a report on Monday, November 24th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $123.50.

Construction Partners Price Performance

Shares of NASDAQ ROAD opened at $105.34 on Wednesday. The firm has a 50-day simple moving average of $115.50 and a 200-day simple moving average of $112.01. The company has a quick ratio of 1.34, a current ratio of 1.61 and a debt-to-equity ratio of 1.73. The stock has a market capitalization of $5.91 billion, a price-to-earnings ratio of 57.56, a price-to-earnings-growth ratio of 1.03 and a beta of 0.88. Construction Partners, Inc. has a 52 week low of $64.79 and a 52 week high of $138.90.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings results on Thursday, November 20th. The company reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.04). The business had revenue of $899.85 million for the quarter, compared to analyst estimates of $896.17 million. Construction Partners had a return on equity of 14.42% and a net margin of 3.62%.The business’s revenue was up 67.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.56 earnings per share. On average, equities analysts predict that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

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.