Longboard Asset Management LP Makes New Investment in Construction Partners, Inc. (NASDAQ:ROAD)

Longboard Asset Management LP acquired a new position in Construction Partners, Inc. (NASDAQ:ROAD) in the 4th quarter, Holdings Channel.com reports. The firm acquired 2,312 shares of the company’s stock, valued at approximately $205,000.

Several other large investors have also recently bought and sold shares of the business. GAMMA Investing LLC raised its position in Construction Partners by 24.4% in the third quarter. GAMMA Investing LLC now owns 873 shares of the company’s stock worth $61,000 after acquiring an additional 171 shares in the last quarter. USA Financial Formulas purchased a new position in Construction Partners in the fourth quarter worth $31,000. KBC Group NV raised its position in Construction Partners by 35.0% in the third quarter. KBC Group NV now owns 1,417 shares of the company’s stock worth $99,000 after acquiring an additional 367 shares in the last quarter. nVerses Capital LLC raised its position in Construction Partners by 19.0% in the third quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock worth $174,000 after acquiring an additional 400 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its position in Construction Partners by 400.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 541 shares of the company’s stock worth $48,000 after acquiring an additional 433 shares in the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ROAD shares. Raymond James dropped their price target on Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating for the company in a research report on Thursday, January 16th. Robert W. Baird raised their price target on Construction Partners from $68.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Finally, DA Davidson restated a “neutral” rating and issued a $95.00 price target on shares of Construction Partners in a research report on Thursday, January 30th. Three equities 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $83.40.

Construction Partners Stock Up 2.7 %

ROAD opened at $81.95 on Wednesday. The business’s fifty day simple moving average is $91.06 and its 200 day simple moving average is $78.55. The company has a quick ratio of 1.26, a current ratio of 1.54 and a debt-to-equity ratio of 0.85. Construction Partners, Inc. has a 52 week low of $44.77 and a 52 week high of $103.69. The firm has a market cap of $4.58 billion, a P/E ratio of 62.08, a PEG ratio of 0.99 and a beta of 0.74.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings results on Thursday, November 21st. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). Construction Partners had a return on equity of 12.90% and a net margin of 3.78%. The business had revenue of $538.16 million during the quarter, compared to analyst estimates of $538.04 million. During the same period in the previous year, the business posted $0.59 earnings per share. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. As a group, equities research analysts anticipate that Construction Partners, Inc. will post 1.95 EPS for the current fiscal year.

Insider Transactions at Construction Partners

In related news, CAO Todd Keith Andrews sold 5,489 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $91.84, for a total transaction of $504,109.76. Following the sale, the chief accounting officer now directly owns 17,394 shares in the company, valued at approximately $1,597,464.96. This trade represents a 23.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP John L. Harper sold 6,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $94.41, for a total value of $566,460.00. Following the sale, the senior vice president now owns 154,856 shares in the company, valued at approximately $14,619,954.96. The trade was a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 139,225 shares of company stock worth $13,904,358 in the last three months. 16.36% of the stock is currently owned by company insiders.

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.