Point72 Hong Kong Ltd Acquires Shares of 1,751 Construction Partners, Inc. (NASDAQ:ROAD)

Point72 Hong Kong Ltd acquired a new stake in Construction Partners, Inc. (NASDAQ:ROAD – Get Rating) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 1,751 shares of the company’s stock, valued at approximately $46,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC increased its stake in Construction Partners by 20.4% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,639,962 shares of the company’s stock valued at $97,161,000 after buying an additional 786,373 shares during the period. BlackRock Inc. increased its stake in Construction Partners by 23.2% in the 1st quarter. BlackRock Inc. now owns 2,655,171 shares of the company’s stock valued at $69,511,000 after buying an additional 500,697 shares during the period. Geneva Capital Management LLC increased its stake in Construction Partners by 5.6% in the 3rd quarter. Geneva Capital Management LLC now owns 2,417,939 shares of the company’s stock valued at $63,422,000 after buying an additional 128,755 shares during the period. Invesco Ltd. increased its stake in Construction Partners by 2.4% in the 1st quarter. Invesco Ltd. now owns 2,069,099 shares of the company’s stock valued at $54,170,000 after buying an additional 48,604 shares during the period. Finally, Vanguard Group Inc. increased its stake in Construction Partners by 19.8% in the 1st quarter. Vanguard Group Inc. now owns 2,029,848 shares of the company’s stock valued at $53,141,000 after buying an additional 336,161 shares during the period. Institutional investors and hedge funds own 75.88% of the company’s stock.

Construction Partners Price Performance

NASDAQ ROAD opened at $28.10 on Monday. The company has a current ratio of 1.98, a quick ratio of 1.58 and a debt-to-equity ratio of 0.90. The company has a fifty day simple moving average of $27.43 and a 200 day simple moving average of $28.30. The company has a market cap of $1.48 billion, a P/E ratio of 82.65, a P/E/G ratio of 1.23 and a beta of 0.92. Construction Partners, Inc. has a 1 year low of $18.89 and a 1 year high of $32.98.

Construction Partners (NASDAQ:ROAD – Get Rating) last posted its quarterly earnings data on Friday, February 10th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.02). The firm had revenue of $341.78 million for the quarter, compared to the consensus estimate of $319.60 million. Construction Partners had a return on equity of 4.03% and a net margin of 1.31%. Construction Partners’s quarterly revenue was up 19.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.11 earnings per share. On average, sell-side analysts predict that Construction Partners, Inc. will post 0.64 EPS for the current year.

Insider Buying and Selling

In related news, SVP John L. Harper sold 46,320 shares of the company’s stock in a transaction on Monday, December 19th. The shares were sold at an average price of $26.31, for a total transaction of $1,218,679.20. Following the completion of the sale, the senior vice president now directly owns 140,621 shares of the company’s stock, valued at approximately $3,699,738.51. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Construction Partners news, SVP John L. Harper sold 11,000 shares of the stock in a transaction on Thursday, December 15th. The shares were sold at an average price of $27.76, for a total value of $305,360.00. Following the completion of the sale, the senior vice president now directly owns 211,941 shares of the company’s stock, valued at approximately $5,883,482.16. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP John L. Harper sold 46,320 shares of the stock in a transaction on Monday, December 19th. The shares were sold at an average price of $26.31, for a total transaction of $1,218,679.20. Following the completion of the sale, the senior vice president now directly owns 140,621 shares of the company’s stock, valued at $3,699,738.51. The disclosure for this sale can be found here. 23.54% of the stock is owned by insiders.

Analysts Set New Price Targets

ROAD has been the topic of several analyst reports. Stifel Nicolaus increased their price target on shares of Construction Partners from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, December 19th. Raymond James dropped their price target on shares of Construction Partners from $37.00 to $36.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, February 14th. DA Davidson restated a “neutral” rating on shares of Construction Partners in a research note on Monday, February 13th. Finally, TheStreet upgraded shares of Construction Partners from a “c+” rating to a “b-” rating in a research note on Monday, January 30th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $32.25.

Construction Partners Company Profile

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Construction Partners, Inc is a civil infrastructure company, which engages in construction and maintenance of roadways and highways. The firm is also involved in the provision of products and services to both public and private infrastructure projects, with an emphasis on highways, roads, bridges, airports, and commercial and residential developments.