6,206 Shares in Construction Partners, Inc. $ROAD Acquired by Bosun Asset Management LLC

Bosun Asset Management LLC purchased a new position in Construction Partners, Inc. (NASDAQ:ROAD) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 6,206 shares of the company’s stock, valued at approximately $659,000.

A number of other hedge funds also recently made changes to their positions in ROAD. Quantum Portfolio Management LLC bought a new position in Construction Partners during the second quarter worth $452,000. Marshall Wace LLP acquired a new stake in shares of Construction Partners during the second quarter valued at approximately $1,362,000. Invesco Ltd. boosted its position in shares of Construction Partners by 4.2% in the second quarter. Invesco Ltd. now owns 1,308,761 shares of the company’s stock worth $139,095,000 after buying an additional 52,670 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in Construction Partners during the 2nd quarter valued at about $7,093,000. Finally, Quantbot Technologies LP grew its position in Construction Partners by 484.8% during the second quarter. Quantbot Technologies LP now owns 42,723 shares of the company’s stock valued at $4,541,000 after purchasing an additional 35,418 shares in the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Construction Partners Stock Performance

ROAD opened at $103.04 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.61 and a debt-to-equity ratio of 1.73. The stock’s 50 day moving average price is $114.07 and its two-hundred day moving average price is $111.99. The firm has a market capitalization of $5.82 billion, a P/E ratio of 56.31, a price-to-earnings-growth ratio of 0.98 and a beta of 0.88. Construction Partners, Inc. has a 12-month low of $64.79 and a 12-month high of $138.90.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings results on Thursday, November 20th. The company reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.04). The business had revenue of $899.85 million for the quarter, compared to analyst estimates of $896.17 million. Construction Partners had a return on equity of 14.42% and a net margin of 3.62%.The firm’s quarterly revenue was up 67.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.56 earnings per share. On average, equities analysts forecast that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ROAD shares. DA Davidson reaffirmed a “neutral” rating and set a $120.00 price target on shares of Construction Partners in a research note on Friday, November 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Construction Partners in a research note on Monday, November 24th. Robert W. Baird decreased their target price on Construction Partners from $131.00 to $124.00 and set an “outperform” rating for the company in a research report on Friday, November 21st. Raymond James Financial reiterated a “strong-buy” rating and set a $135.00 price target (up previously from $120.00) on shares of Construction Partners in a report on Tuesday, October 21st. Finally, Zacks Research cut shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $123.50.

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.