Royce & Associates LP Buys 40,690 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Royce & Associates LP increased its holdings in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 17.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 280,264 shares of the company's stock after purchasing an additional 40,690 shares during the quarter. Royce & Associates LP owned approximately 0.50% of Construction Partners worth $20,143,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Montag A & Associates Inc. acquired a new stake in shares of Construction Partners in the first quarter valued at about $29,000. Versant Capital Management Inc acquired a new stake in Construction Partners during the 1st quarter valued at approximately $30,000. Johnson Financial Group Inc. bought a new position in Construction Partners during the 4th quarter worth approximately $66,000. Golden State Wealth Management LLC lifted its position in shares of Construction Partners by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,126 shares of the company's stock worth $81,000 after purchasing an additional 563 shares during the period. Finally, 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 buying an additional 129 shares during the period. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Construction Partners Stock Up 2.0%

NASDAQ:ROAD traded up $2.08 during trading hours on Friday, reaching $105.44. The company had a trading volume of 287,446 shares, compared to its average volume of 495,216. The business's 50-day simple moving average is $104.96 and its two-hundred day simple moving average is $88.55. Construction Partners, Inc. has a twelve month low of $51.63 and a twelve month high of $114.74. The firm has a market cap of $5.91 billion, a price-to-earnings ratio of 90.12, a P/E/G ratio of 1.29 and a beta of 0.96. The company has a quick ratio of 1.13, a current ratio of 1.42 and a debt-to-equity ratio of 1.63.

Construction Partners (NASDAQ:ROAD - Get Free Report) last posted its quarterly earnings results on Friday, May 9th. The company reported $0.08 earnings per share for the quarter, topping analysts' consensus estimates of ($0.04) by $0.12. The business had revenue of $571.65 million for the quarter, compared to the consensus estimate of $559.61 million. Construction Partners had a return on equity of 11.49% and a net margin of 2.80%. The firm's revenue for the quarter was up 53.9% on a year-over-year basis. During the same period in the prior year, the business earned ($0.02) EPS. On average, equities analysts expect that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Raymond James Financial decreased their price target on Construction Partners from $104.00 to $100.00 and set a "strong-buy" rating for the company in a report on Tuesday, April 29th.

About Construction Partners

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.