Calamos Advisors LLC Sells 37,745 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Calamos Advisors LLC lowered its position in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 42.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,708 shares of the company's stock after selling 37,745 shares during the quarter. Calamos Advisors LLC owned 0.10% of Construction Partners worth $2,207,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. NBC Securities Inc. bought a new position in shares of Construction Partners during the third quarter worth about $26,000. Public Employees Retirement System of Ohio lifted its position in shares of Construction Partners by 40.4% during the third quarter. Public Employees Retirement System of Ohio now owns 1,102 shares of the company's stock worth $29,000 after purchasing an additional 317 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Construction Partners by 304.5% during the first quarter. Tower Research Capital LLC TRC now owns 1,169 shares of the company's stock worth $31,000 after purchasing an additional 880 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Construction Partners during the first quarter worth about $36,000. Finally, Operose Advisors LLC bought a new position in shares of Construction Partners during the third quarter worth about $38,000. Institutional investors and hedge funds own 94.83% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ROAD. Sidoti cut shares of Construction Partners from a "buy" rating to a "neutral" rating and set a $59.00 price target on the stock. in a research report on Thursday, March 28th. Stifel Nicolaus increased their price objective on shares of Construction Partners from $51.00 to $57.00 and gave the stock a "buy" rating in a research note on Monday, February 12th. Finally, Robert W. Baird lowered shares of Construction Partners from an "outperform" rating to a "neutral" rating and increased 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 assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $52.00.

Construction Partners Stock Performance

Shares of NASDAQ:ROAD traded down $1.28 during trading hours on Friday, hitting $50.03. The stock had a trading volume of 614,619 shares, compared to its average volume of 413,372. The stock's fifty day simple moving average is $51.82 and its 200 day simple moving average is $45.50. 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 $2.64 billion, a price-to-earnings ratio of 46.32, a PEG ratio of 1.30 and a beta of 0.65. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.39 and a current ratio of 1.75.

Construction Partners (NASDAQ:ROAD - Get Free Report) last announced its quarterly earnings results on Friday, February 9th. The company reported $0.19 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $393.62 million. During the same quarter last year, the business earned $0.04 earnings per share. Construction Partners's revenue was up 16.0% compared to the same quarter last year. Sell-side analysts anticipate that Construction Partners, Inc. will post 1.34 earnings per share for the current fiscal year.

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.