Construction Partners, Inc. (NASDAQ:ROAD) Shares Acquired by Polen Capital Management LLC

Key Points

• Polen Capital Management LLC increased its stake in Construction Partners, Inc. by 8.7% in Q1, owning approximately 0.06% of the company valued at $2.5 million after acquiring additional shares.
• Wall Street analysts have a generally positive outlook on Construction Partners, with a consensus rating of "Buy" and a price target of $101.00.
• Despite reporting Q2 EPS of $0.81, which missed expectations, Construction Partners experienced a 50.5% year-over-year revenue growth.

Polen Capital Management LLC boosted its stake in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 8.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,795 shares of the company's stock after buying an additional 2,786 shares during the period. Polen Capital Management LLC owned approximately 0.06% of Construction Partners worth $2,501,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Manchester Capital Management LLC increased its stake 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 buying an additional 123 shares during the period. Amalgamated Bank boosted its holdings in Construction Partners by 8.8% in the first quarter. Amalgamated Bank now owns 1,593 shares of the company's stock valued at $114,000 after purchasing an additional 129 shares in the last quarter. ANB Bank boosted its holdings in Construction Partners by 4.2% in the first quarter. ANB Bank now owns 4,105 shares of the company's stock valued at $295,000 after purchasing an additional 164 shares in the last quarter. Stephens Inc. AR boosted its holdings in Construction Partners by 2.3% in 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. boosted its holdings in Construction Partners by 5.0% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,492 shares of the company's stock valued at $397,000 after purchasing an additional 213 shares in the last quarter. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Construction Partners Trading Down 2.4%

ROAD traded down $2.75 during midday trading on Thursday, hitting $113.40. The company's stock had a trading volume of 201,074 shares, compared to its average volume of 558,368. The company has a current ratio of 1.47, a quick ratio of 1.13 and a debt-to-equity ratio of 1.63. The firm has a market cap of $6.35 billion, a P/E ratio of 82.68, a PEG ratio of 1.51 and a beta of 1.00. The firm has a 50-day moving average price of $105.22 and a two-hundred day moving average price of $90.02. Construction Partners, Inc. has a 52-week low of $56.52 and a 52-week high of $119.99.

Construction Partners (NASDAQ:ROAD - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.81 earnings per share (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 for the quarter, compared to analysts' expectations of $810.47 million. During the same quarter in the prior year, the firm earned $0.59 earnings per share. Construction Partners's revenue for the quarter was up 50.5% compared to the same quarter last year. On average, research analysts anticipate that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Construction Partners 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.