Cynosure Group LLC Invests $360,000 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 acquired a new position in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,015 shares of the company's stock, valued at approximately $360,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ROAD. Manchester Capital Management LLC increased its position 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 acquiring an additional 123 shares during the period. Amalgamated Bank increased its position in shares of Construction Partners by 8.8% during the first quarter. Amalgamated Bank now owns 1,593 shares of the company's stock worth $114,000 after acquiring an additional 129 shares during the period. ANB Bank increased its position in shares of Construction Partners by 4.2% during the first quarter. ANB Bank now owns 4,105 shares of the company's stock worth $295,000 after acquiring an additional 164 shares during the period. Stephens Inc. AR boosted its stake in shares of Construction Partners by 2.3% during the first quarter. Stephens Inc. AR now owns 8,498 shares of the company's stock valued at $611,000 after purchasing an additional 187 shares in the last quarter. Finally, Summit Investment Advisors Inc. increased its holdings in Construction Partners by 5.0% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,492 shares of the company's stock valued at $397,000 after buying an additional 213 shares during the period. 94.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ROAD has been the topic of several 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 report on Friday. Baird R W raised shares of Construction Partners from a "hold" rating to a "strong-buy" rating in a report on Friday. Finally, Raymond James Financial reissued a "strong-buy" rating on shares of Construction Partners in a report on Friday. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $101.00.

Construction Partners Stock Up 3.6%

ROAD traded up $4.10 during trading on Tuesday, hitting $117.66. The stock had a trading volume of 627,173 shares, compared to its average volume of 620,719. The company has a market capitalization of $6.59 billion, a PE ratio of 85.88, a PEG ratio of 1.45 and a beta of 1.00. Construction Partners, Inc. has a twelve month low of $56.52 and a twelve month high of $119.20. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.13 and a current ratio of 1.47. The stock has a 50 day simple moving average of $104.98 and a two-hundred day simple moving average of $89.84.

Construction Partners (NASDAQ:ROAD - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.06). The firm had revenue of $779.28 million during the quarter, compared to analyst estimates of $810.47 million. Construction Partners had a net margin of 3.04% and a return on equity of 12.24%. Construction Partners's revenue was up 50.5% on a year-over-year basis. During the same quarter last year, the business earned $0.59 earnings per share. On average, research analysts predict that Construction Partners, Inc. will post 1.96 earnings per share for the current 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.