Construction Partners, Inc. $ROAD Position Boosted by Van Berkom & Associates Inc.

Key Points

• Van Berkom & Associates increased its Construction Partners stake by 45.5% in the third quarter, ending the period with 606,302 shares valued at about $54.6 million. Institutional investors and hedge funds collectively own 94.83% of the company.
• Analyst sentiment is mixed: the stock carries a “Moderate Buy” consensus rating and an average price target of $116.83, while several firms recently cut their targets or ratings.
• Construction Partners beat quarterly earnings and revenue expectations, reporting $1.08 EPS and $999.4 million in revenue; revenue rose 28.2% year over year.

Van Berkom & Associates Inc. lifted its position in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 45.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 606,302 shares of the company's stock after acquiring an additional 189,576 shares during the period. Van Berkom & Associates Inc. owned approximately 1.07% of Construction Partners worth $54,585,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Wasatch Advisors LP boosted its stake in Construction Partners by 20.6% in the second quarter. Wasatch Advisors LP now owns 1,008,474 shares of the company's stock valued at $119,776,000 after buying an additional 172,034 shares in the last quarter. First Trust Advisors LP raised its stake in Construction Partners by 29.6% during the first quarter. First Trust Advisors LP now owns 1,030,378 shares of the company's stock worth $114,496,000 after acquiring an additional 235,616 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Construction Partners by 19.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 967,350 shares of the company's stock worth $109,214,000 after acquiring an additional 156,469 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Construction Partners in the second quarter worth about $78,248,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Construction Partners by 11.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 587,477 shares of the company's stock valued at $65,271,000 after purchasing an additional 58,908 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ROAD. B. Riley Financial decreased their price target on shares of Construction Partners from $135.00 to $100.00 and set a "buy" rating on the stock in a report on Monday. Truist Financial dropped their price objective on shares of Construction Partners from $130.00 to $90.00 and set a "hold" rating for the company in a research note on Friday. Weiss Ratings downgraded shares of Construction Partners from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, September 17th. Raymond James Financial restated a "strong-buy" rating and issued a $125.00 target price on shares of Construction Partners in a research report on Friday. Finally, Robert W. Baird decreased their target price on shares of Construction Partners from $145.00 to $141.00 and set an "outperform" rating on the stock in a research note on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Construction Partners has a consensus rating of "Moderate Buy" and a consensus target price of $116.83.

Construction Partners Stock Up 10.5%

Shares of NASDAQ ROAD opened at $85.30 on Tuesday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.26 and a current ratio of 1.57. The company has a market capitalization of $4.84 billion, a P/E ratio of 33.45, a price-to-earnings-growth ratio of 0.74 and a beta of 0.94. The company's 50 day moving average price is $91.25 and its 200-day moving average price is $110.20. Construction Partners, Inc. has a 52-week low of $74.51 and a 52-week high of $151.00.

Construction Partners (NASDAQ:ROAD - Get Free Report) last issued its quarterly earnings results on Friday, August 7th. The company reported $1.08 earnings per share for the quarter, topping analysts' consensus estimates of $1.01 by $0.07. Construction Partners had a return on equity of 16.06% and a net margin of 4.10%. The firm had revenue of $999.42 million during the quarter, compared to the consensus estimate of $948.77 million. During the same period last year, the business posted $0.81 EPS. The business's revenue was up 28.2% compared to the same quarter last year. Equities analysts forecast that Construction Partners, Inc. will post 2.93 earnings per share for the current year.

Construction Partners Profile

Construction Partners, Inc is a civil infrastructure company that builds and maintains roads, highways, and other transportation-related projects. Its services include roadway paving, site development, milling and resurfacing, and related construction work for public and private customers.

The company also produces and supplies materials used in its projects, including hot-mix asphalt and aggregates. Its vertically integrated operations combine construction services with materials production and distribution.

Founded in 2007 and headquartered in Dothan, Alabama, Construction Partners operates across the southeastern United States and in Texas.

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