Truist Financial Corp Buys 5,202 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Truist Financial Corp increased its position in Construction Partners, Inc. (NASDAQ:ROAD) by 8.1% during the 4th quarter, Holdings Channel reports. The firm owned 69,495 shares of the company’s stock after acquiring an additional 5,202 shares during the quarter. Truist Financial Corp’s holdings in Construction Partners were worth $3,024,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. NBC Securities Inc. bought a new position in shares of Construction Partners during the 3rd quarter worth $26,000. Operose Advisors LLC purchased a new stake in Construction Partners in the third quarter worth about $38,000. Federated Hermes Inc. bought a new position in Construction Partners during the 4th quarter worth about $150,000. Cornerstone Investment Partners LLC purchased a new position in Construction Partners during the 4th quarter valued at about $209,000. Finally, Park Avenue Securities LLC bought a new stake in shares of Construction Partners in the 3rd quarter valued at about $203,000. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ROAD. Sidoti lowered Construction Partners from a “buy” rating to a “neutral” rating and set a $59.00 target price for the company. in a report on Thursday, March 28th. Stifel Nicolaus lifted their target price 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, Robert W. Baird lowered shares of Construction Partners from an “outperform” rating to a “neutral” rating and increased their price target 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 given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $52.00.

Construction Partners Stock Up 3.3 %

Shares of ROAD stock opened at $53.78 on Wednesday. The stock’s fifty day moving average price is $53.05 and its 200 day moving average price is $46.54. Construction Partners, Inc. has a 1-year low of $27.22 and a 1-year high of $58.65. The company has a market cap of $2.83 billion, a price-to-earnings ratio of 49.80, a price-to-earnings-growth ratio of 1.33 and a beta of 0.68. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.75 and a quick ratio of 1.39.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings results on Friday, February 9th. The company reported $0.19 earnings per share 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 analyst estimates of $393.62 million. Construction Partners had a return on equity of 11.56% and a net margin of 3.52%. The company’s 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. On average, research analysts expect that Construction Partners, Inc. will post 1.34 earnings per share 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.