Arizona State Retirement System Raises Stock Position in Construction Partners, Inc. (NASDAQ:ROAD)

Arizona State Retirement System grew its holdings in Construction Partners, Inc. (NASDAQ:ROAD) by 3.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,225 shares of the company’s stock after acquiring an additional 439 shares during the period. Arizona State Retirement System’s holdings in Construction Partners were worth $532,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ROAD. Bank of New York Mellon Corp raised its position in Construction Partners by 11.7% in the first quarter. Bank of New York Mellon Corp now owns 573,400 shares of the company’s stock worth $15,012,000 after acquiring an additional 59,957 shares during the period. Cambridge Investment Research Advisors Inc. bought a new position in Construction Partners in the first quarter worth approximately $229,000. MetLife Investment Management LLC raised its position in Construction Partners by 82.3% in the first quarter. MetLife Investment Management LLC now owns 21,313 shares of the company’s stock worth $558,000 after acquiring an additional 9,622 shares during the period. Rhumbline Advisers raised its position in Construction Partners by 38.5% in the first quarter. Rhumbline Advisers now owns 34,539 shares of the company’s stock worth $904,000 after acquiring an additional 9,598 shares during the period. Finally, BlackRock Inc. raised its position in Construction Partners by 23.2% in the first quarter. BlackRock Inc. now owns 2,655,171 shares of the company’s stock worth $69,511,000 after acquiring an additional 500,697 shares during the period. 94.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ROAD. Stifel Nicolaus raised their price objective on shares of Construction Partners from $51.00 to $57.00 and gave the company a “buy” rating in a research report on Monday, February 12th. Sidoti downgraded shares of Construction Partners from a “buy” rating to a “neutral” rating and set a $59.00 price objective on the stock. in a research report on Thursday, March 28th. Finally, Robert W. Baird downgraded shares of Construction Partners from an “outperform” rating to a “neutral” rating and raised their price objective for the company from $46.00 to $50.00 in a research report on Monday, February 12th. Two equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $52.00.

Construction Partners Stock Performance

Shares of NASDAQ ROAD opened at $50.03 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.39 and a current ratio of 1.75. The company has a market cap of $2.64 billion, a P/E ratio of 46.32, a P/E/G ratio of 1.37 and a beta of 0.65. The firm’s fifty day moving average is $51.82 and its two-hundred day moving average is $45.39. Construction Partners, Inc. has a 52-week low of $24.20 and a 52-week high of $58.65.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings results on Friday, February 9th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.06. The company had revenue of $396.51 million for the quarter, compared to the consensus estimate of $393.62 million. Construction Partners had a net margin of 3.52% and a return on equity of 11.56%. Construction Partners’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. As a group, analysts anticipate that Construction Partners, Inc. will post 1.34 EPS 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.