Federated Hermes Inc. Makes New Investment in Construction Partners, Inc. (NASDAQ:ROAD)

Federated Hermes Inc. acquired a new stake in Construction Partners, Inc. (NASDAQ:ROAD) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 3,455 shares of the company’s stock, valued at approximately $150,000.

Several other hedge funds and other institutional investors have also made changes to their positions in ROAD. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Construction Partners by 17.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,394 shares of the company’s stock valued at $453,000 after acquiring an additional 1,813 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Construction Partners by 9.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 572,337 shares of the company’s stock valued at $20,925,000 after purchasing an additional 48,124 shares during the last quarter. Park Avenue Securities LLC bought a new position in Construction Partners during the third quarter worth about $203,000. Allspring Global Investments Holdings LLC increased its position in Construction Partners by 1.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 232,841 shares of the company’s stock worth $8,513,000 after buying an additional 3,752 shares during the last quarter. Finally, Summit Creek Advisors LLC raised its stake in Construction Partners by 20.8% in the third quarter. Summit Creek Advisors LLC now owns 492,304 shares of the company’s stock valued at $17,999,000 after buying an additional 84,844 shares during the period. 94.83% of the stock is owned by institutional investors.

Construction Partners Stock Performance

Shares of NASDAQ ROAD opened at $51.50 on Monday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.75 and a quick ratio of 1.39. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of 47.69, a P/E/G ratio of 1.33 and a beta of 0.68. The stock’s fifty day moving average price is $52.79 and its two-hundred day moving average price is $46.34. Construction Partners, Inc. has a one year low of $24.20 and a one year high of $58.65.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings results on Friday, February 9th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.13 by $0.06. Construction Partners had a net margin of 3.52% and a return on equity of 11.56%. The business had revenue of $396.51 million for the quarter, compared to the consensus estimate of $393.62 million. During the same period in the prior year, the company posted $0.04 earnings per share. Construction Partners’s revenue was up 16.0% compared to the same quarter last year. On average, equities analysts forecast that Construction Partners, Inc. will post 1.34 EPS for the current year.

Analysts Set New Price Targets

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

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.