Wasatch Advisors LP Increases Stake in Construction Partners, Inc. (NASDAQ:ROAD)

Wasatch Advisors LP boosted its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 188.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,692,328 shares of the company’s stock after purchasing an additional 1,105,423 shares during the period. Wasatch Advisors LP owned approximately 3.21% of Construction Partners worth $95,024,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of ROAD. ICA Group Wealth Management LLC acquired a new stake in shares of Construction Partners during the fourth quarter worth $30,000. USA Financial Formulas purchased a new stake in Construction Partners during the 4th quarter valued at about $72,000. Federated Hermes Inc. acquired a new position in shares of Construction Partners in the fourth quarter valued at about $150,000. Cornerstone Investment Partners LLC purchased a new position in shares of Construction Partners in the fourth quarter worth about $209,000. Finally, Graham Capital Management L.P. purchased a new position in shares of Construction Partners in the third quarter worth about $224,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ROAD shares. Robert W. Baird increased their price target on shares of Construction Partners from $50.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. Sidoti cut shares of Construction Partners from a “buy” rating to a “neutral” rating and set a $59.00 target price for the company. in a report on Thursday, March 28th. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $54.00.

Construction Partners Stock Performance

Construction Partners stock traded down $0.42 during mid-day trading on Tuesday, hitting $53.22. The company had a trading volume of 258,378 shares, compared to its average volume of 359,807. The company has a current ratio of 1.64, a quick ratio of 1.28 and a debt-to-equity ratio of 0.81. The company’s fifty day moving average is $55.61 and its 200-day moving average is $50.87. Construction Partners, Inc. has a 12-month low of $27.96 and a 12-month high of $62.35. The company has a market capitalization of $2.81 billion, a price-to-earnings ratio of 45.49, a P/E/G ratio of 1.30 and a beta of 0.66.

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 company had revenue of $371.43 million for the quarter, compared to analyst estimates of $363.12 million. During the same quarter last year, the business earned ($0.11) earnings per share. The firm’s revenue was up 14.3% on a year-over-year basis. Equities research analysts predict that Construction Partners, Inc. will post 1.41 EPS for the current 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.