Summit Creek Advisors LLC Trims Stake in Construction Partners, Inc. (NASDAQ:ROAD)

Summit Creek Advisors LLC reduced its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 7.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 453,766 shares of the company's stock after selling 38,538 shares during the quarter. Construction Partners accounts for 2.6% of Summit Creek Advisors LLC's holdings, making the stock its 11th biggest holding. Summit Creek Advisors LLC owned approximately 0.86% of Construction Partners worth $19,748,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of ROAD. NBC Securities Inc. acquired a new stake in shares of Construction Partners during the 3rd quarter worth $26,000. Operose Advisors LLC acquired a new stake in shares of Construction Partners during the 3rd quarter worth $38,000. Federated Hermes Inc. acquired a new stake in shares of Construction Partners during the 4th quarter worth $150,000. Park Avenue Securities LLC acquired a new stake in shares of Construction Partners during the 3rd quarter worth $203,000. Finally, Cornerstone Investment Partners LLC acquired a new stake in shares of Construction Partners during the 4th quarter worth $209,000. 94.83% of the stock is owned by institutional investors and hedge funds.

Construction Partners Price Performance

Shares of ROAD stock traded down $0.52 on Monday, hitting $54.92. 405,947 shares of the company's stock were exchanged, compared to its average volume of 365,601. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.75 and a quick ratio of 1.39. The stock has a market cap of $2.89 billion, a P/E ratio of 46.94, a price-to-earnings-growth ratio of 1.44 and a beta of 0.68. Construction Partners, Inc. has a 12 month low of $27.33 and a 12 month high of $58.65. The company has a 50 day moving average of $53.50 and a 200 day moving average of $46.99.

Construction Partners (NASDAQ:ROAD - Get Free Report) last posted its earnings results on Friday, May 10th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.05. The firm had revenue of $371.43 million during the quarter, compared to the consensus estimate of $363.12 million. Construction Partners had a return on equity of 12.11% and a net margin of 3.68%. The business's quarterly revenue was up 14.3% on a year-over-year basis. During the same period last year, the company earned ($0.11) earnings per share. On average, equities research analysts predict that Construction Partners, Inc. will post 1.34 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on ROAD shares. Stifel Nicolaus upped their price objective on Construction Partners from $51.00 to $57.00 and gave the stock a "buy" rating in a research report on Monday, February 12th. Sidoti downgraded 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 upped their price objective on Construction Partners from $50.00 to $60.00 and gave the stock a "neutral" rating in a research report on Monday. Two 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 data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $54.00.

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.