Mesirow Financial Investment Management Inc. Reduces Holdings in Construction Partners, Inc. (NASDAQ:ROAD)

Mesirow Financial Investment Management Inc. lowered its position in Construction Partners, Inc. (NASDAQ:ROAD) by 23.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,320 shares of the company’s stock after selling 1,909 shares during the period. Construction Partners comprises about 1.8% of Mesirow Financial Investment Management Inc.’s portfolio, making the stock its 10th largest position. Mesirow Financial Investment Management Inc.’s holdings in Construction Partners were worth $355,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ROAD. ICA Group Wealth Management LLC bought a new position in shares of Construction Partners in the fourth quarter valued at approximately $30,000. USA Financial Formulas purchased a new position in shares of Construction Partners in the fourth quarter worth $72,000. Federated Hermes Inc. purchased a new position in Construction Partners during the 4th quarter valued at $150,000. Cornerstone Investment Partners LLC purchased a new position in Construction Partners during the 4th quarter valued at $209,000. Finally, Graham Capital Management L.P. purchased a new position in Construction Partners during the 3rd quarter valued at $224,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Construction Partners Stock Performance

ROAD traded up $1.13 during midday trading on Wednesday, hitting $54.35. 87,161 shares of the company traded hands, compared to its average volume of 357,660. The company has a quick ratio of 1.28, a current ratio of 1.64 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $2.86 billion, a PE ratio of 45.49, a price-to-earnings-growth ratio of 1.30 and a beta of 0.66. The company’s 50-day moving average is $55.61 and its 200 day moving average is $50.87. Construction Partners, Inc. has a 52 week low of $27.96 and a 52 week high of $62.35.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings results on Friday, May 10th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.05. Construction Partners had a net margin of 3.68% and a return on equity of 12.00%. The firm had revenue of $371.43 million during the quarter, compared to analyst estimates of $363.12 million. During the same quarter in the prior year, the firm earned ($0.11) EPS. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. On average, research analysts expect that Construction Partners, Inc. will post 1.41 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ROAD shares. Sidoti cut shares of 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. Robert W. Baird upped their price target on shares of Construction Partners from $50.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, May 13th. Two equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Construction Partners currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.00.

About Construction Partners

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.