Construction Partners, Inc. (NASDAQ:ROAD) Shares Acquired by Pathstone Holdings LLC

Pathstone Holdings LLC lifted its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 8.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 61,717 shares of the company’s stock after buying an additional 4,587 shares during the quarter. Pathstone Holdings LLC’s holdings in Construction Partners were worth $4,308,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Conestoga Capital Advisors LLC lifted its holdings in Construction Partners by 3.0% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 4,135,202 shares of the company’s stock worth $228,305,000 after buying an additional 120,155 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Construction Partners by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 2,415,461 shares of the company’s stock valued at $135,628,000 after acquiring an additional 69,223 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Construction Partners by 2.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 972,400 shares of the company’s stock valued at $53,687,000 after acquiring an additional 24,828 shares in the last quarter. American Century Companies Inc. lifted its stake in Construction Partners by 8.0% during the second quarter. American Century Companies Inc. now owns 949,123 shares of the company’s stock worth $52,401,000 after purchasing an additional 70,099 shares during the last quarter. Finally, Driehaus Capital Management LLC boosted its holdings in Construction Partners by 31.9% in the second quarter. Driehaus Capital Management LLC now owns 569,440 shares of the company’s stock worth $31,439,000 after purchasing an additional 137,572 shares during the period. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on ROAD shares. DA Davidson increased their target price on shares of Construction Partners from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Robert W. Baird increased their price objective on shares of Construction Partners from $68.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Raymond James lifted their target price on Construction Partners from $69.00 to $72.00 and gave the company a “strong-buy” rating in a research note on Monday, August 12th. Finally, Stifel Nicolaus increased their price target on Construction Partners from $61.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Construction Partners presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.00.

Construction Partners Trading Up 3.2 %

Shares of NASDAQ:ROAD opened at $99.98 on Friday. Construction Partners, Inc. has a fifty-two week low of $39.79 and a fifty-two week high of $100.70. The company has a quick ratio of 1.30, a current ratio of 1.60 and a debt-to-equity ratio of 0.82. The company has a market cap of $5.28 billion, a PE ratio of 75.74, a P/E/G ratio of 1.21 and a beta of 0.65. The company’s 50-day moving average price is $79.08 and its 200 day moving average price is $65.68.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings data on Thursday, November 21st. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.01). Construction Partners had a return on equity of 13.15% and a net margin of 3.78%. The business had revenue of $538.16 million for the quarter, compared to analyst estimates of $538.04 million. During the same quarter in the prior year, the firm posted $0.59 earnings per share. The business’s quarterly revenue was up 13.3% on a year-over-year basis. Sell-side analysts anticipate that Construction Partners, Inc. will post 1.87 earnings per share for the current year.

Construction Partners 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.