Construction Partners, Inc. (NASDAQ:ROAD) Shares Sold by Wasatch Advisors LP

Wasatch Advisors LP reduced its position in Construction Partners, Inc. (NASDAQ:ROAD) by 68.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 586,905 shares of the company’s stock after selling 1,253,387 shares during the quarter. Wasatch Advisors LP owned about 1.11% of Construction Partners worth $25,542,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Moody Aldrich Partners LLC acquired a new position in shares of Construction Partners in the 4th quarter valued at about $4,282,000. Dimensional Fund Advisors LP increased its position in shares of Construction Partners by 13.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 893,748 shares of the company’s stock worth $38,897,000 after acquiring an additional 105,346 shares in the last quarter. Trexquant Investment LP raised its stake in shares of Construction Partners by 55.0% in the 4th quarter. Trexquant Investment LP now owns 76,977 shares of the company’s stock valued at $3,350,000 after acquiring an additional 27,302 shares during the period. Assenagon Asset Management S.A. acquired a new stake in Construction Partners in the 4th quarter valued at $769,000. Finally, Tyro Capital Management LLC purchased a new position in Construction Partners in the fourth quarter valued at about $12,410,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Analyst Ratings Changes

ROAD has been the subject of a number of recent research reports. Robert W. Baird increased 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. Stifel Nicolaus lifted their price target on shares of Construction Partners from $51.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. Finally, Sidoti cut shares of Construction Partners from a “buy” rating to a “neutral” rating and set a $59.00 price objective for the company. in a research report on Thursday, March 28th. Two analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $54.00.

Construction Partners Stock Down 0.6 %

Shares of Construction Partners stock traded down $0.34 on Tuesday, hitting $54.33. 7,808 shares of the company’s stock traded hands, compared to its average volume of 362,454. The stock has a market cap of $2.86 billion, a P/E ratio of 46.73, a PEG ratio of 1.26 and a beta of 0.71. The firm’s 50-day moving average is $55.23 and its 200 day moving average is $49.27. The company has a quick ratio of 1.28, a current ratio of 1.64 and a debt-to-equity ratio of 0.81. Construction Partners, Inc. has a 52-week low of $27.96 and a 52-week high of $62.35.

Construction Partners (NASDAQ:ROAD) last issued its earnings results on Friday, May 10th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.05. The company had revenue of $371.43 million during the quarter, compared to the consensus estimate of $363.12 million. Construction Partners had a return on equity of 12.00% and a net margin of 3.68%. Construction Partners’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.11) earnings per share. Equities analysts anticipate that Construction Partners, Inc. will post 1.41 earnings per share 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.