Summit Creek Advisors LLC Purchases 46,385 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Summit Creek Advisors LLC grew its stake in shares of Construction Partners, Inc. (NASDAQ:ROADGet Rating) by 9.1% in the first quarter, HoldingsChannel.com reports. The firm owned 553,899 shares of the company’s stock after purchasing an additional 46,385 shares during the period. Summit Creek Advisors LLC’s holdings in Construction Partners were worth $14,501,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ROAD. Allspring Global Investments Holdings LLC bought a new stake in Construction Partners during the 4th quarter worth approximately $10,712,000. Fifth Third Bancorp increased its holdings in Construction Partners by 33.8% during the 4th quarter. Fifth Third Bancorp now owns 1,798 shares of the company’s stock worth $53,000 after purchasing an additional 454 shares in the last quarter. Geneva Capital Management LLC increased its holdings in Construction Partners by 89.0% during the 4th quarter. Geneva Capital Management LLC now owns 2,288,926 shares of the company’s stock worth $67,317,000 after purchasing an additional 1,078,042 shares in the last quarter. Northwestern Mutual Investment Management Company LLC bought a new stake in Construction Partners during the 4th quarter worth approximately $2,124,000. Finally, Advisor Group Holdings Inc. increased its holdings in Construction Partners by 37.1% during the 4th quarter. Advisor Group Holdings Inc. now owns 13,777 shares of the company’s stock worth $405,000 after purchasing an additional 3,728 shares in the last quarter. 69.45% of the stock is owned by institutional investors.

Insider Activity at Construction Partners

In other news, SVP John L. Harper acquired 30,000 shares of the company’s stock in a transaction that occurred on Thursday, May 12th. The shares were acquired at an average price of $20.94 per share, for a total transaction of $628,200.00. Following the completion of the purchase, the senior vice president now owns 15,000 shares in the company, valued at $314,100. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 24.35% of the stock is owned by company insiders.

Construction Partners Price Performance

Shares of NASDAQ ROAD opened at $26.96 on Friday. Construction Partners, Inc. has a twelve month low of $18.89 and a twelve month high of $44.99. The stock’s 50 day moving average price is $21.71 and its 200-day moving average price is $24.21. The company has a market capitalization of $1.42 billion, a PE ratio of 103.70, a PEG ratio of 3.89 and a beta of 0.98. The company has a quick ratio of 1.50, a current ratio of 1.93 and a debt-to-equity ratio of 0.76.

Construction Partners (NASDAQ:ROADGet Rating) last posted its quarterly earnings data on Friday, May 6th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.14). Construction Partners had a net margin of 1.25% and a return on equity of 3.30%. The firm had revenue of $243.40 million during the quarter, compared to analysts’ expectations of $218.14 million. During the same quarter in the previous year, the company posted ($0.04) EPS. Construction Partners’s revenue for the quarter was up 35.7% on a year-over-year basis. On average, equities analysts anticipate that Construction Partners, Inc. will post 0.29 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ROAD. Robert W. Baird decreased their price objective on Construction Partners from $30.00 to $26.00 and set an “outperform” rating for the company in a report on Friday, July 8th. Sidoti began coverage on Construction Partners in a research note on Wednesday, June 1st. They issued a “buy” rating on the stock. Finally, Raymond James upgraded Construction Partners from an “outperform” rating to a “strong-buy” rating and cut their target price for the stock from $30.00 to $25.00 in a research note on Wednesday, May 11th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Construction Partners presently has a consensus rating of “Buy” and a consensus target price of $31.25.

Construction Partners Company Profile

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Construction Partners, Inc, a civil infrastructure company, engages in the construction and maintenance of roadways across Alabama, Florida, Georgia, North Carolina, and South Carolina. The company, through its subsidiaries, provides various products and services to public and private infrastructure projects, with a focus on highways, roads, bridges, airports, and commercial and residential developments.

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Institutional Ownership by Quarter for Construction Partners (NASDAQ:ROAD)

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