Tyro Capital Management LLC Increases Position in Construction Partners, Inc. (NASDAQ:ROAD)

Tyro Capital Management LLC grew its stake in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 20.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 242,309 shares of the company's stock after purchasing an additional 40,608 shares during the period. Construction Partners makes up approximately 7.0% of Tyro Capital Management LLC's portfolio, making the stock its 8th biggest holding. Tyro Capital Management LLC owned about 0.43% of Construction Partners worth $21,435,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. USA Financial Formulas acquired a new position in Construction Partners during the fourth quarter worth $31,000. Mather Group LLC. acquired a new position in Construction Partners during the fourth quarter worth $33,000. Byrne Asset Management LLC grew its holdings in Construction Partners by 33.3% during the fourth quarter. Byrne Asset Management LLC now owns 533 shares of the company's stock worth $47,000 after acquiring an additional 133 shares during the period. Nisa Investment Advisors LLC grew its holdings in Construction Partners by 400.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 541 shares of the company's stock worth $48,000 after acquiring an additional 433 shares during the period. Finally, Golden State Wealth Management LLC acquired a new position in Construction Partners during the fourth quarter worth $50,000. Institutional investors and hedge funds own 94.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on ROAD. DA Davidson reiterated a "neutral" rating and set a $95.00 target price on shares of Construction Partners in a research report on Thursday, January 30th. Robert W. Baird boosted their target price on Construction Partners from $100.00 to $102.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Finally, Raymond James decreased their target price on Construction Partners from $104.00 to $100.00 and set a "strong-buy" rating on the stock in a research report on Tuesday, April 29th.

Insider Buying and Selling

In other Construction Partners news, SVP John L. Harper sold 6,000 shares of the company's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $73.83, for a total transaction of $442,980.00. Following the completion of the sale, the senior vice president now directly owns 159,389 shares in the company, valued at $11,767,689.87. This represents a 3.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Fred Julius Smith III purchased 9,333 shares of the company's stock in a transaction on Monday, April 14th. The shares were purchased at an average price of $73.83 per share, with a total value of $689,055.39. Following the completion of the purchase, the chief executive officer now directly owns 9,333 shares of the company's stock, valued at $689,055.39. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 16.36% of the stock is currently owned by company insiders.

Construction Partners Price Performance

Shares of NASDAQ:ROAD traded down $0.19 on Wednesday, hitting $101.66. The company had a trading volume of 361,933 shares, compared to its average volume of 445,104. The company has a current ratio of 1.54, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46. Construction Partners, Inc. has a 52-week low of $51.63 and a 52-week high of $104.53. The business has a 50 day moving average of $81.57 and a 200 day moving average of $84.81. The company has a market cap of $5.70 billion, a PE ratio of 95.01, a PEG ratio of 0.99 and a beta of 0.87.

Construction Partners (NASDAQ:ROAD - Get Free Report) last issued its quarterly earnings data on Friday, May 9th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.12. Construction Partners had a return on equity of 11.94% and a net margin of 2.82%. The business had revenue of $571.65 million for the quarter, compared to the consensus estimate of $559.61 million. During the same period in the prior year, the business earned ($0.02) earnings per share. The business's revenue was up 53.9% on a year-over-year basis. As a group, equities analysts anticipate that Construction Partners, Inc. will post 1.96 earnings per share 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.