Zurcher Kantonalbank Zurich Cantonalbank Has $426,000 Stock Position in Construction Partners, Inc. (NASDAQ:ROAD)

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 21.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 9,787 shares of the company’s stock after selling 2,607 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Construction Partners were worth $426,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Strs Ohio acquired a new stake in shares of Construction Partners during the fourth quarter worth $539,000. Moody Aldrich Partners LLC acquired a new stake in shares of Construction Partners during the fourth quarter worth $4,282,000. Arizona State Retirement System raised its stake in Construction Partners by 3.7% in the fourth quarter. Arizona State Retirement System now owns 12,225 shares of the company’s stock valued at $532,000 after purchasing an additional 439 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Construction Partners in the fourth quarter valued at about $769,000. Finally, Raymond James Financial Services Advisors Inc. raised its stake in Construction Partners by 44.5% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 48,518 shares of the company’s stock valued at $2,112,000 after purchasing an additional 14,936 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.

Construction Partners Stock Up 0.4 %

Shares of NASDAQ ROAD opened at $51.50 on Friday. 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 company has a market cap of $2.71 billion, a price-to-earnings ratio of 47.69, a PEG ratio of 1.32 and a beta of 0.68. 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 price of $52.79 and a two-hundred day moving average price of $46.25.

Construction Partners (NASDAQ:ROAD) last issued its earnings results on Friday, February 9th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.13 by $0.06. The firm had revenue of $396.51 million during the quarter, compared to the consensus estimate of $393.62 million. Construction Partners had a return on equity of 11.56% and a net margin of 3.52%. The business’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.04 earnings per share. As a group, analysts forecast that Construction Partners, Inc. will post 1.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on ROAD shares. Robert W. Baird downgraded Construction Partners from an “outperform” rating to a “neutral” rating and boosted their price target for the company from $46.00 to $50.00 in a research note on Monday, February 12th. Stifel Nicolaus boosted 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. Finally, Sidoti downgraded 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. Two investment 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 company currently has an average rating of “Moderate Buy” and an average price target of $52.00.

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.