Kennedy Capital Management LLC Sells 82,661 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Kennedy Capital Management LLC decreased its position in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 53.2% during the first quarter, Holdings Channel.com reports. The institutional investor owned 72,583 shares of the company’s stock after selling 82,661 shares during the quarter. Kennedy Capital Management LLC’s holdings in Construction Partners were worth $4,076,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Public Employees Retirement System of Ohio increased its holdings in Construction Partners by 14,321.4% during the first quarter. Public Employees Retirement System of Ohio now owns 64,031 shares of the company’s stock valued at $3,595,000 after buying an additional 63,587 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Construction Partners by 8.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 27,774 shares of the company’s stock valued at $1,560,000 after acquiring an additional 2,203 shares during the period. Hood River Capital Management LLC raised its position in shares of Construction Partners by 0.5% in the 1st quarter. Hood River Capital Management LLC now owns 410,000 shares of the company’s stock worth $23,022,000 after acquiring an additional 1,920 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Construction Partners by 6.9% during the 1st quarter. Advisors Asset Management Inc. now owns 70,192 shares of the company’s stock worth $3,941,000 after purchasing an additional 4,542 shares during the last quarter. Finally, American International Group Inc. boosted its position in Construction Partners by 5.8% during the first quarter. American International Group Inc. now owns 21,145 shares of the company’s stock valued at $1,187,000 after purchasing an additional 1,161 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird lifted their target price on Construction Partners from $50.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. 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 data from MarketBeat.com, Construction Partners presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

Construction Partners Stock Up 1.2 %

Shares of ROAD stock traded up $0.72 during trading hours on Tuesday, reaching $62.27. 292,001 shares of the company’s stock were exchanged, compared to its average volume of 353,732. Construction Partners, Inc. has a fifty-two week low of $28.61 and a fifty-two week high of $63.97. The stock’s 50 day moving average is $57.27 and its 200-day moving average is $52.90. 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 has a market cap of $3.28 billion, a price-to-earnings ratio of 52.99, a P/E/G ratio of 1.49 and a beta of 0.66.

Construction Partners (NASDAQ:ROAD) last announced its earnings results on Friday, May 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.05. Construction Partners had a return on equity of 12.00% and a net margin of 3.68%. The company had revenue of $371.43 million for the quarter, compared to analyst estimates of $363.12 million. During the same period in the prior year, the company posted ($0.11) EPS. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. Analysts predict that Construction Partners, Inc. will post 1.4 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.