CenterBook Partners LP Buys New Position in Construction Partners, Inc. (NASDAQ:ROAD)

CenterBook Partners LP acquired a new stake in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 7,007 shares of the company's stock, valued at approximately $504,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ROAD. Vanguard Group Inc. raised its stake in shares of Construction Partners by 5.0% during the 1st quarter. Vanguard Group Inc. now owns 3,666,331 shares of the company's stock worth $263,499,000 after buying an additional 173,963 shares in the last quarter. FMR LLC raised its stake in shares of Construction Partners by 32.1% during the 4th quarter. FMR LLC now owns 2,329,801 shares of the company's stock worth $206,094,000 after buying an additional 565,583 shares in the last quarter. Invesco Ltd. raised its stake in shares of Construction Partners by 75.6% during the 4th quarter. Invesco Ltd. now owns 1,493,866 shares of the company's stock worth $132,147,000 after buying an additional 642,987 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Construction Partners by 2.6% during the 4th quarter. Bank of America Corp DE now owns 1,119,051 shares of the company's stock worth $98,991,000 after buying an additional 28,723 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Construction Partners by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 1,058,054 shares of the company's stock worth $93,617,000 after buying an additional 30,362 shares in the last quarter. 94.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Construction Partners Price Performance

NASDAQ ROAD traded down $0.83 during mid-day trading on Friday, hitting $111.98. The stock had a trading volume of 182,133 shares, compared to its average volume of 475,058. Construction Partners, Inc. has a 52-week low of $51.63 and a 52-week high of $115.81. The company has a market cap of $6.27 billion, a price-to-earnings ratio of 96.12, a P/E/G ratio of 1.36 and a beta of 0.96. The company has a 50 day simple moving average of $104.42 and a 200 day simple moving average of $88.03. The company has a quick ratio of 1.13, a current ratio of 1.42 and a debt-to-equity ratio of 1.63.

Construction Partners (NASDAQ:ROAD - Get Free Report) last released its quarterly earnings data on Friday, May 9th. The company reported $0.08 earnings per share 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%. Construction Partners's quarterly revenue was up 53.9% on a year-over-year basis. During the same period last year, the business posted ($0.02) EPS. Equities analysts forecast that Construction Partners, Inc. will post 1.96 EPS for the current fiscal 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.

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