Strs Ohio Buys Shares of 12,400 Construction Partners, Inc. (NASDAQ:ROAD)

Strs Ohio bought a new stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 12,400 shares of the company’s stock, valued at approximately $539,000.

Other hedge funds have also recently added to or reduced their stakes in the company. NBC Securities Inc. bought a new stake in Construction Partners during the 3rd quarter valued at $26,000. Operose Advisors LLC bought a new stake in Construction Partners during the 3rd quarter valued at $38,000. Park Avenue Securities LLC bought a new stake in Construction Partners during the 3rd quarter valued at $203,000. Graham Capital Management L.P. bought a new stake in shares of Construction Partners in the 3rd quarter worth $224,000. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in shares of Construction Partners in the 3rd quarter worth $260,000. Institutional investors own 94.83% of the company’s stock.

Construction Partners Stock Performance

Shares of NASDAQ ROAD opened at $52.77 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.75 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of 48.86, a PEG ratio of 1.33 and a beta of 0.65. The stock’s fifty day simple moving average is $52.27 and its 200 day simple moving average is $45.83. Construction Partners, Inc. has a 52-week low of $24.20 and a 52-week high of $58.65.

Construction Partners (NASDAQ:ROAD) last issued its earnings results on Friday, February 9th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.04 EPS. As a group, sell-side analysts forecast that Construction Partners, Inc. will post 1.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Robert W. Baird downgraded Construction Partners from an “outperform” rating to a “neutral” rating and boosted their price objective for the stock from $46.00 to $50.00 in a research note on Monday, February 12th. Stifel Nicolaus boosted their price objective on Construction Partners from $51.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. Finally, Sidoti downgraded Construction Partners from a “buy” rating to a “neutral” rating and set a $59.00 price objective on the stock. in a research note on Thursday, March 28th. Two investment 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 MarketBeat.com, Construction Partners presently has an average rating of “Moderate Buy” and an average price target of $52.00.

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.