Intech Investment Management LLC Invests $778,000 in Construction Partners, Inc. (NASDAQ:ROAD)

Intech Investment Management LLC bought a new stake in Construction Partners, Inc. (NASDAQ:ROAD) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,139 shares of the company’s stock, valued at approximately $778,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Clearbridge Investments LLC acquired a new position in shares of Construction Partners during the 2nd quarter worth about $20,360,000. Segall Bryant & Hamill LLC acquired a new position in Construction Partners in the third quarter valued at approximately $10,377,000. Driehaus Capital Management LLC increased its stake in Construction Partners by 31.9% in the second quarter. Driehaus Capital Management LLC now owns 569,440 shares of the company’s stock valued at $31,439,000 after purchasing an additional 137,572 shares during the last quarter. Conestoga Capital Advisors LLC raised its holdings in Construction Partners by 3.0% during the second quarter. Conestoga Capital Advisors LLC now owns 4,135,202 shares of the company’s stock worth $228,305,000 after purchasing an additional 120,155 shares in the last quarter. Finally, Engle Capital Management L.P. acquired a new stake in Construction Partners during the second quarter worth approximately $5,742,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Construction Partners Trading Up 0.5 %

NASDAQ ROAD opened at $101.61 on Friday. Construction Partners, Inc. has a one year low of $39.79 and a one year high of $103.24. The firm has a market cap of $5.68 billion, a PE ratio of 76.62, a P/E/G ratio of 1.21 and a beta of 0.65. The firm’s fifty day moving average is $81.41 and its two-hundred day moving average is $66.89. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.30 and a current ratio of 1.54.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings results on Thursday, November 21st. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.01). Construction Partners had a net margin of 3.78% and a return on equity of 12.90%. The company had revenue of $538.16 million during the quarter, compared to analyst estimates of $538.04 million. During the same quarter last year, the firm earned $0.59 EPS. The business’s revenue was up 13.3% on a year-over-year basis. Analysts expect that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ROAD has been the topic of a number of recent analyst reports. DA Davidson increased their target price on shares of Construction Partners from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Raymond James raised their price objective on Construction Partners from $69.00 to $72.00 and gave the stock a “strong-buy” rating in a report on Monday, August 12th. Robert W. Baird boosted their target price on Construction Partners from $68.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, Stifel Nicolaus upped their target price on Construction Partners from $61.00 to $67.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Construction Partners presently has an average rating of “Moderate Buy” and a consensus target price of $69.00.

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.