Brookwood Investment Group LLC Invests $224,000 in Construction Partners, Inc. (NASDAQ:ROAD)

Key Points

• Brookwood Investment Group LLC acquired 3,110 shares of Construction Partners, Inc. valued at approximately $224,000 during the first quarter.
• Construction Partners reported a quarterly revenue increase of 53.9% year-over-year, earning $0.08 per share, exceeding analysts' expectations.
• Raymond James Financial has adjusted its target price for Construction Partners from $104.00 to $100.00 and maintains a "strong-buy" rating for the stock.

Brookwood Investment Group LLC acquired a new stake in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,110 shares of the company's stock, valued at approximately $224,000.

A number of other institutional investors have also modified their holdings of the company. Amalgamated Bank grew its stake in Construction Partners by 8.8% during the 1st quarter. Amalgamated Bank now owns 1,593 shares of the company's stock worth $114,000 after purchasing an additional 129 shares in the last quarter. Stephens Inc. AR boosted its position in shares of Construction Partners by 2.3% during the 1st quarter. Stephens Inc. AR now owns 8,498 shares of the company's stock worth $611,000 after acquiring an additional 187 shares in the last quarter. Summit Investment Advisors Inc. boosted its position in shares of Construction Partners by 5.0% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,492 shares of the company's stock worth $397,000 after acquiring an additional 213 shares in the last quarter. Bridges Investment Management Inc. boosted its position in shares of Construction Partners by 5.2% during the 1st quarter. Bridges Investment Management Inc. now owns 6,671 shares of the company's stock worth $479,000 after acquiring an additional 327 shares in the last quarter. Finally, Montag A & Associates Inc. acquired a new position in shares of Construction Partners during the 1st quarter worth about $29,000. 94.83% of the stock is owned by institutional investors and hedge funds.

Construction Partners Stock Performance

ROAD traded up $0.23 on Wednesday, hitting $102.41. 49,310 shares of the company traded hands, compared to its average volume of 543,546. The company has a 50 day moving average of $105.05 and a 200-day moving average of $88.74. The company has a quick ratio of 1.13, a current ratio of 1.42 and a debt-to-equity ratio of 1.63. The stock has a market capitalization of $5.74 billion, a PE ratio of 87.62, a PEG ratio of 1.27 and a beta of 0.96. Construction Partners, Inc. has a 12-month low of $51.63 and a 12-month high of $114.74.

Construction Partners (NASDAQ:ROAD - Get Free Report) last posted its quarterly earnings data on Friday, May 9th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.12. The firm had revenue of $571.65 million during the quarter, compared to the consensus estimate of $559.61 million. Construction Partners had a return on equity of 11.49% and a net margin of 2.80%. The firm's revenue was up 53.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.02) EPS. Sell-side analysts anticipate that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Raymond James Financial lowered their price objective on Construction Partners from $104.00 to $100.00 and set a "strong-buy" rating for the company in a research report on Tuesday, April 29th.

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.