Assenagon Asset Management S.A. Makes New Investment in Construction Partners, Inc. (NASDAQ:ROAD)

Assenagon Asset Management S.A. purchased a new stake in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 17,670 shares of the company's stock, valued at approximately $769,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ROAD. Raymond James Financial Services Advisors Inc. increased its position in shares of Construction Partners by 44.5% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 48,518 shares of the company's stock valued at $2,112,000 after acquiring an additional 14,936 shares during the last quarter. Legato Capital Management LLC boosted its stake in Construction Partners by 14.6% during the fourth quarter. Legato Capital Management LLC now owns 11,935 shares of the company's stock valued at $519,000 after buying an additional 1,525 shares during the period. Vanguard Group Inc. raised its position in Construction Partners by 8.6% during the third quarter. Vanguard Group Inc. now owns 2,290,486 shares of the company's stock valued at $83,740,000 after purchasing an additional 181,017 shares in the last quarter. American Century Companies Inc. raised its position in Construction Partners by 15.0% during the third quarter. American Century Companies Inc. now owns 1,316,081 shares of the company's stock valued at $48,116,000 after purchasing an additional 172,109 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of Construction Partners by 17.0% in the third quarter. Deutsche Bank AG now owns 21,212 shares of the company's stock worth $776,000 after buying an additional 3,080 shares during the period. Institutional investors own 94.83% of the company's stock.

Construction Partners Trading Up 2.4 %

Shares of NASDAQ:ROAD traded up $1.32 during trading hours on Friday, hitting $57.47. 384,598 shares of the company's stock traded hands, compared to its average volume of 419,063. The business has a fifty day moving average price of $50.36 and a 200-day moving average price of $44.21. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.75 and a quick ratio of 1.39. Construction Partners, Inc. has a 1 year low of $24.20 and a 1 year high of $58.65. The firm has a market capitalization of $3.03 billion, a P/E ratio of 53.21, a price-to-earnings-growth ratio of 1.48 and a beta of 0.65.

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

Analysts Set New Price Targets

Several analysts have weighed in on ROAD shares. Stifel Nicolaus lifted their price objective on Construction Partners from $51.00 to $57.00 and gave the company a "buy" rating in a research report on Monday, February 12th. Robert W. Baird cut Construction Partners from an "outperform" rating to a "neutral" rating and upped their price objective for the company from $46.00 to $50.00 in a research report on Monday, February 12th. Finally, Sidoti lowered shares of Construction Partners from a "buy" rating to a "neutral" rating and set a $59.00 target price for the company. in a research note on Thursday, March 28th. Two investment 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 stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $52.00.

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.