Vanguard Group Inc. Buys 181,017 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Vanguard Group Inc. raised its position in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 8.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,290,486 shares of the company's stock after purchasing an additional 181,017 shares during the quarter. Vanguard Group Inc. owned about 4.35% of Construction Partners worth $83,740,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its holdings in shares of Construction Partners by 11.7% in the first quarter. Bank of New York Mellon Corp now owns 573,400 shares of the company's stock valued at $15,012,000 after acquiring an additional 59,957 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in Construction Partners during the first quarter worth approximately $229,000. MetLife Investment Management LLC boosted its holdings in Construction Partners by 82.3% during the first quarter. MetLife Investment Management LLC now owns 21,313 shares of the company's stock worth $558,000 after buying an additional 9,622 shares in the last quarter. Rhumbline Advisers boosted its holdings in Construction Partners by 38.5% during the first quarter. Rhumbline Advisers now owns 34,539 shares of the company's stock worth $904,000 after buying an additional 9,598 shares in the last quarter. Finally, BlackRock Inc. boosted its holdings in Construction Partners by 23.2% during the first quarter. BlackRock Inc. now owns 2,655,171 shares of the company's stock worth $69,511,000 after buying an additional 500,697 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on ROAD. Sidoti cut shares of Construction Partners from a "buy" rating to a "neutral" rating and set a $59.00 target price for the company. in a report on Thursday, March 28th. Stifel Nicolaus raised their target price on shares of Construction Partners from $51.00 to $57.00 and gave the stock a "buy" rating in a report on Monday, February 12th. Finally, Robert W. Baird lowered shares of Construction Partners from an "outperform" rating to a "neutral" rating and raised their price objective for the stock from $46.00 to $50.00 in a research note on Monday, February 12th. Two research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $52.00.

Construction Partners Stock Up 2.4 %

ROAD stock traded up $1.32 during midday trading on Friday, reaching $57.47. The company had a trading volume of 384,598 shares, compared to its average volume of 419,063. Construction Partners, Inc. has a 1 year low of $24.20 and a 1 year high of $58.65. The company has a current ratio of 1.75, a quick ratio of 1.39 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $3.03 billion, a P/E ratio of 53.21, a PEG ratio of 1.45 and a beta of 0.65. The company has a 50 day moving average of $50.36 and a two-hundred day moving average of $44.15.

Construction Partners (NASDAQ:ROAD - Get Free Report) last released its earnings results on Friday, February 9th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.06. Construction Partners had a net margin of 3.52% and a return on equity of 11.56%. The company had revenue of $396.51 million during the quarter, compared to the consensus estimate of $393.62 million. During the same quarter in the prior year, the firm earned $0.04 EPS. The company's revenue was up 16.0% compared to the same quarter last year. On average, equities research analysts expect that Construction Partners, Inc. will post 1.35 earnings per share for the current fiscal year.

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.