Cynosure Group LLC Makes New Investment in Construction Partners, Inc. (NASDAQ:ROAD)

Key Points

• Cynosure Group LLC has acquired a new stake in Construction Partners, Inc., purchasing 5,015 shares valued at approximately $360,000.
• Construction Partners reported $0.81 earnings per share for the last quarter, missing estimates and showing a year-over-year revenue increase of 50.5% despite lower-than-expected results.
• Analysts maintain a consensus rating of "Buy" for Construction Partners, with price targets now set up to $122.00 by Robert W. Baird.

Cynosure Group LLC purchased a new position in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 5,015 shares of the company's stock, valued at approximately $360,000.

Several other large investors also recently added to or reduced their stakes in ROAD. Montag A & Associates Inc. purchased a new position in Construction Partners during the 1st quarter valued at about $29,000. Versant Capital Management Inc purchased a new position in shares of Construction Partners during the 1st quarter valued at $30,000. Johnson Financial Group Inc. bought a new position in Construction Partners in the 4th quarter worth about $66,000. Golden State Wealth Management LLC boosted its position in shares of Construction Partners by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 1,126 shares of the company's stock valued at $81,000 after acquiring an additional 563 shares during the last quarter. Finally, Manchester Capital Management LLC grew its holdings in shares of Construction Partners by 9.2% during the first quarter. Manchester Capital Management LLC now owns 1,461 shares of the company's stock worth $105,000 after purchasing an additional 123 shares in the last quarter. Hedge funds and other institutional investors own 94.83% of the company's stock.

Construction Partners Trading Down 1.9%

ROAD traded down $2.16 during midday trading on Thursday, reaching $113.99. 179,873 shares of the company's stock traded hands, compared to its average volume of 558,207. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.47 and a quick ratio of 1.13. Construction Partners, Inc. has a 52 week low of $56.52 and a 52 week high of $119.99. The stock has a market capitalization of $6.39 billion, a price-to-earnings ratio of 83.28, a P/E/G ratio of 1.51 and a beta of 1.00. The firm has a fifty day moving average of $105.22 and a two-hundred day moving average of $90.02.

Construction Partners (NASDAQ:ROAD - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). Construction Partners had a return on equity of 12.24% and a net margin of 3.04%. The business had revenue of $779.28 million during the quarter, compared to the consensus estimate of $810.47 million. During the same quarter in the previous year, the business posted $0.59 earnings per share. Construction Partners's quarterly revenue was up 50.5% compared to the same quarter last year. On average, equities analysts anticipate that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ROAD has been the subject of a number of research reports. Robert W. Baird set a $122.00 price objective on shares of Construction Partners and gave the company an "outperform" rating in a research note on Friday, August 8th. Baird R W upgraded Construction Partners from a "hold" rating to a "strong-buy" rating in a report on Friday, August 8th. Finally, Raymond James Financial restated a "strong-buy" rating on shares of Construction Partners in a report on Friday, August 8th.

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.