Construction Partners, Inc. (NASDAQ:ROAD) Shares Sold by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. lessened its stake in Construction Partners, Inc. (NASDAQ:ROAD) by 22.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 82,017 shares of the company’s stock after selling 23,515 shares during the period. Asset Management One Co. Ltd.’s holdings in Construction Partners were worth $3,619,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of ROAD. NBC Securities Inc. acquired a new position in shares of Construction Partners in the 3rd quarter valued at about $26,000. Public Employees Retirement System of Ohio increased its stake in shares of Construction Partners by 40.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,102 shares of the company’s stock valued at $29,000 after purchasing an additional 317 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Construction Partners by 304.5% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,169 shares of the company’s stock valued at $31,000 after purchasing an additional 880 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Construction Partners in the 1st quarter valued at about $36,000. Finally, Operose Advisors LLC purchased a new position in shares of Construction Partners in the 3rd quarter valued at about $38,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ROAD shares. Stifel Nicolaus lifted their price target 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 target for the company. in a research note on Thursday, March 28th. Finally, Robert W. Baird lowered Construction Partners from an “outperform” rating to a “neutral” rating and lifted their price target for the company 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 given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.00.

Construction Partners Price Performance

NASDAQ:ROAD opened at $56.64 on Friday. Construction Partners, Inc. has a 12 month low of $24.20 and a 12 month high of $58.65. The stock has a 50 day moving average of $51.26 and a two-hundred day moving average of $44.68. 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 firm has a market cap of $2.99 billion, a P/E ratio of 52.44, a price-to-earnings-growth ratio of 1.49 and a beta of 0.65.

Construction Partners (NASDAQ:ROAD) last issued its earnings results on Friday, February 9th. The company reported $0.19 earnings per share 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 analysts’ expectations of $393.62 million. Construction Partners had a return on equity of 11.56% and a net margin of 3.52%. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.04 EPS. On average, analysts expect that Construction Partners, Inc. will post 1.35 earnings per share for the current fiscal year.

Construction Partners Company 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.