Osaic Holdings Inc. Buys 5,294 Shares of Construction Partners, Inc. $ROAD

Osaic Holdings Inc. boosted its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 107.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,221 shares of the company’s stock after acquiring an additional 5,294 shares during the period. Osaic Holdings Inc.’s holdings in Construction Partners were worth $1,086,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Squarepoint Ops LLC boosted its holdings in shares of Construction Partners by 27.8% during the 2nd quarter. Squarepoint Ops LLC now owns 33,431 shares of the company’s stock valued at $3,553,000 after purchasing an additional 7,262 shares during the last quarter. Advisory Services Network LLC boosted its stake in Construction Partners by 31.7% during the second quarter. Advisory Services Network LLC now owns 5,296 shares of the company’s stock valued at $534,000 after buying an additional 1,274 shares during the last quarter. Nomura Holdings Inc. bought a new position in Construction Partners during the second quarter valued at approximately $1,374,000. Castleark Management LLC bought a new stake in Construction Partners in the 2nd quarter worth approximately $5,386,000. Finally, FORA Capital LLC purchased a new stake in shares of Construction Partners during the 2nd quarter worth approximately $282,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Robert W. Baird lowered 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. Weiss Ratings reissued a “hold (c+)” rating on shares of Construction Partners in a research note on Monday. Bank of America reduced their target price on shares of Construction Partners from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, November 21st. Raymond James Financial restated a “strong-buy” rating and set a $135.00 target price (up from $120.00) on shares of Construction Partners in a research report on Tuesday, October 21st. Finally, Zacks Research lowered Construction Partners from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $123.50.

Construction Partners Price Performance

Shares of ROAD stock opened at $108.55 on Friday. The stock has a 50 day moving average price of $109.42 and a 200 day moving average price of $112.63. Construction Partners, Inc. has a 52-week low of $64.79 and a 52-week high of $138.90. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.34 and a current ratio of 1.61. The firm has a market capitalization of $6.14 billion, a P/E ratio of 59.32, a P/E/G ratio of 1.03 and a beta of 0.87.

Construction Partners (NASDAQ:ROAD) last released its earnings results on Thursday, November 20th. The company reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.04). Construction Partners had a return on equity of 14.42% and a net margin of 3.62%.The business had revenue of $899.85 million during the quarter, compared to analysts’ expectations of $896.17 million. During the same quarter in the previous year, the business earned $0.56 EPS. The business’s revenue for the quarter was up 67.2% on a year-over-year basis. As a group, sell-side analysts predict that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

Construction Partners Profile

Construction Partners, Inc (NASDAQ: ROAD) is a specialty contractor and infrastructure solutions provider focused on road building, paving, site development and aggregate production. The company delivers a comprehensive suite of civil construction services, including roadway paving and milling, site grading and preparation, stormwater and utility installation, and full-scale asphalt plant operations. By integrating materials production with contracting capabilities, the firm aims to streamline project delivery and maintain quality control across its contracting and materials businesses.

At the heart of Construction Partners’ operations are its network of asphalt plants, quarries and aggregate production facilities.