Construction Partners, Inc. (NASDAQ:ROAD) Shares Purchased by LPL Financial LLC

LPL Financial LLC boosted its stake in Construction Partners, Inc. (NASDAQ:ROAD) by 16.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 45,371 shares of the company’s stock after acquiring an additional 6,365 shares during the period. LPL Financial LLC owned 0.08% of Construction Partners worth $3,261,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in ROAD. Montag A & Associates Inc. acquired a new position in Construction Partners during the 1st quarter worth approximately $29,000. Versant Capital Management Inc purchased a new stake in shares of Construction Partners during the 1st quarter worth approximately $30,000. Johnson Financial Group Inc. purchased a new stake in Construction Partners in the 4th quarter valued at approximately $66,000. Golden State Wealth Management LLC lifted its stake in Construction Partners by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,126 shares of the company’s stock valued at $81,000 after buying an additional 563 shares in the last quarter. Finally, Amalgamated Bank lifted its stake in Construction Partners by 8.8% in the 1st quarter. Amalgamated Bank now owns 1,593 shares of the company’s stock valued at $114,000 after buying an additional 129 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on ROAD shares. Robert W. Baird set a $122.00 price target on Construction Partners and gave the company an “outperform” rating in a report on Friday, August 8th. Raymond James Financial reiterated a “strong-buy” rating on shares of Construction Partners in a report on Friday, August 8th. Finally, Baird R W upgraded Construction Partners from a “hold” rating to a “strong-buy” rating in a report on Friday, August 8th.

Construction Partners Stock Performance

NASDAQ:ROAD opened at $107.57 on Friday. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.47 and a quick ratio of 1.13. Construction Partners, Inc. has a 1-year low of $56.52 and a 1-year high of $119.99. The firm has a 50-day moving average of $105.25 and a two-hundred day moving average of $90.52. The stock has a market cap of $6.03 billion, a P/E ratio of 78.52, a PEG ratio of 1.38 and a beta of 1.00.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). Construction Partners had a return on equity of 12.24% and a net margin of 3.04%. The company had revenue of $779.28 million for the quarter, compared to the consensus estimate of $810.47 million. During the same period in the previous year, the business posted $0.59 EPS. The business’s revenue for the quarter was up 50.5% on a year-over-year basis. On average, research analysts expect that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

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.