Allspring Global Investments Holdings LLC lessened its position in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 24.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 175,522 shares of the company's stock after selling 57,319 shares during the period. Allspring Global Investments Holdings LLC owned 0.33% of Construction Partners worth $7,639,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. bought a new position in Construction Partners in the 4th quarter worth about $769,000. R.P. Boggs & Co. boosted its holdings in Construction Partners by 2.6% during the 3rd quarter. R.P. Boggs & Co. now owns 433,044 shares of the company's stock valued at $15,832,000 after acquiring an additional 11,142 shares during the period. New York State Common Retirement Fund boosted its holdings in Construction Partners by 1,050.7% during the 3rd quarter. New York State Common Retirement Fund now owns 190,160 shares of the company's stock valued at $6,952,000 after acquiring an additional 173,635 shares during the period. Dark Forest Capital Management LP purchased a new stake in Construction Partners in the 3rd quarter worth approximately $648,000. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in Construction Partners by 44.5% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 48,518 shares of the company's stock worth $2,112,000 after buying an additional 14,936 shares during the period. Hedge funds and other institutional investors own 94.83% of the company's stock.
Construction Partners Stock Performance
Shares of ROAD traded down $1.63 during trading hours on Thursday, hitting $51.31. The stock had a trading volume of 618,530 shares, compared to its average volume of 354,600. 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 12 month low of $24.20 and a 12 month high of $58.65. The firm has a market capitalization of $2.70 billion, a PE ratio of 47.51, a PEG ratio of 1.39 and a beta of 0.65. The stock has a fifty day moving average price of $51.75 and a 200 day moving average price of $45.29.
Construction Partners (NASDAQ:ROAD - Get Free Report) last issued its quarterly earnings data on Friday, February 9th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.13 by $0.06. Construction Partners had a return on equity of 11.56% and a net margin of 3.52%. The company had revenue of $396.51 million during the quarter, compared to analyst estimates of $393.62 million. During the same quarter in the previous year, the company posted $0.04 earnings per share. Construction Partners's revenue was up 16.0% compared to the same quarter last year. Analysts anticipate that Construction Partners, Inc. will post 1.34 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on ROAD. Stifel Nicolaus raised their target price on Construction Partners from $51.00 to $57.00 and gave the company a "buy" rating in a research note on Monday, February 12th. Sidoti lowered Construction Partners from a "buy" rating to a "neutral" rating and set a $59.00 price objective for the company. in a research report on Thursday, March 28th. Finally, Robert W. Baird lowered Construction Partners from an "outperform" rating to a "neutral" rating and lifted their target price for the stock from $46.00 to $50.00 in a report on Monday, February 12th. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Construction Partners presently has a consensus rating of "Moderate Buy" and an average price target of $52.00.
Read Our Latest Analysis on ROAD
Construction Partners Profile
(
Free Report)
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.
See Also
Before you consider Construction Partners, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Construction Partners wasn't on the list.
While Construction Partners currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know?
Get This Free Report
