Yousif Capital Management LLC Acquires New Shares in Construction Partners, Inc. $ROAD

Key Points

• Yousif Capital Management acquired 14,313 shares of Construction Partners in the third quarter, valued at approximately $1.29 million. Institutional investors and hedge funds collectively own 94.83% of the company.
• Analyst sentiment remains positive but mixed, with an overall “Moderate Buy” rating and an average price target of $132.67. Recent firms have lowered targets, while ratings range from Strong Buy to Hold.
• ROAD shares opened at $89.80, down 2.1%, and remain well below their 52-week high of $151.00. The company’s latest quarterly results exceeded expectations, with $1.08 in EPS and $999.42 million in revenue, up 28.2% year over year.

Yousif Capital Management LLC acquired a new position in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 14,313 shares of the company's stock, valued at approximately $1,289,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ROAD. Wasatch Advisors LP grew its holdings 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 purchasing an additional 172,034 shares during the last quarter. First Trust Advisors LP increased its position in shares of Construction Partners by 29.6% in the first quarter. First Trust Advisors LP now owns 1,030,378 shares of the company's stock valued at $114,496,000 after buying an additional 235,616 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Construction Partners by 19.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 967,350 shares of the company's stock worth $109,214,000 after buying an additional 156,469 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Construction Partners during the 2nd quarter worth $78,248,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Construction Partners by 11.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 587,477 shares of the company's stock worth $65,271,000 after buying an additional 58,908 shares during the last quarter. 94.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ROAD has been the topic of a number of research reports. Robert W. Baird lowered their price objective 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. Zacks Research cut shares of Construction Partners from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 16th. Raymond James Financial reduced their price target on shares of Construction Partners from $150.00 to $145.00 and set a "strong-buy" rating on the stock in a report on Friday, October 16th. Finally, Weiss Ratings lowered shares of Construction Partners from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, September 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Construction Partners has an average rating of "Moderate Buy" and an average target price of $132.67.

Construction Partners Stock Down 2.1%

Shares of NASDAQ:ROAD opened at $89.80 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.57 and a debt-to-equity ratio of 1.68. The company has a market capitalization of $5.10 billion, a P/E ratio of 35.22, a P/E/G ratio of 0.69 and a beta of 0.93. Construction Partners, Inc. has a 52-week low of $79.33 and a 52-week high of $151.00. The stock's fifty day simple moving average is $94.01 and its 200-day simple moving average is $110.93.

Construction Partners (NASDAQ:ROAD - Get Free Report) last posted its quarterly earnings data on Friday, August 7th. The company reported $1.08 EPS 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 analysts' expectations of $948.77 million. During the same quarter last year, the business posted $0.81 EPS. The firm's quarterly revenue was up 28.2% compared to the same quarter last year. As a group, equities research analysts forecast that Construction Partners, Inc. will post 3.04 earnings per share for the current fiscal year.

About Construction Partners

Construction Partners, Inc NASDAQ: ROAD is a civil infrastructure company that builds and maintains transportation and other public infrastructure in the United States. The company primarily serves public-sector customers, including state and local governments, as well as private-sector customers involved in residential, commercial and industrial development.

Its services include asphalt production and paving, roadway construction, milling, maintenance and repair, site development, utility installation and related infrastructure work.

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