Altfest L J & Co. Inc. Purchases Shares of 7,598 Construction Partners, Inc. $ROAD

Altfest L J & Co. Inc. purchased a new position in Construction Partners, Inc. (NASDAQ:ROAD) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,598 shares of the company’s stock, valued at approximately $965,000.

A number of other large investors have also recently made changes to their positions in ROAD. Caitong International Asset Management Co. Ltd increased its holdings in Construction Partners by 2,750.0% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 285 shares of the company’s stock worth $30,000 after acquiring an additional 275 shares in the last quarter. MAI Capital Management bought a new position in shares of Construction Partners in the second quarter worth approximately $44,000. Hazlett Burt & Watson Inc. boosted its position in shares of Construction Partners by 88.9% in the second quarter. Hazlett Burt & Watson Inc. now owns 425 shares of the company’s stock worth $45,000 after purchasing an additional 200 shares during the period. Mather Group LLC. purchased a new stake in shares of Construction Partners in the third quarter worth $47,000. Finally, NewEdge Advisors LLC raised its position in shares of Construction Partners by 161.1% during the 2nd quarter. NewEdge Advisors LLC now owns 564 shares of the company’s stock valued at $60,000 after purchasing an additional 348 shares during the period. 94.83% of the stock is owned by hedge funds and other institutional investors.

Construction Partners Price Performance

Shares of Construction Partners stock opened at $112.16 on Friday. The firm has a market cap of $6.34 billion, a PE ratio of 61.29, a PEG ratio of 1.03 and a beta of 0.87. The stock has a 50 day moving average of $109.30 and a 200 day moving average of $112.68. The company has a current ratio of 1.61, a quick ratio of 1.34 and a debt-to-equity ratio of 1.73. 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 data on Thursday, November 20th. The company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.04). The firm had revenue of $899.85 million for the quarter, compared to analysts’ expectations of $896.17 million. Construction Partners had a return on equity of 14.42% and a net margin of 3.62%.The firm’s revenue was up 67.2% on a year-over-year basis. During the same period last year, the company earned $0.56 earnings per share. On average, research analysts expect that Construction Partners, Inc. will post 1.96 EPS for the current fiscal year.

Analyst Ratings Changes

ROAD has been the subject of several recent analyst reports. Zacks Research downgraded shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. DA Davidson restated a “neutral” rating and issued a $120.00 price objective on shares of Construction Partners in a research report on Friday, November 21st. Raymond James Financial reiterated a “strong-buy” rating and set a $135.00 target price (up previously from $120.00) on shares of Construction Partners in a research report on Tuesday, October 21st. Weiss Ratings reissued a “hold (c+)” rating on shares of Construction Partners in a research note on Monday. Finally, Bank of America dropped their price target on Construction Partners from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, November 21st. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Construction Partners currently has a consensus rating of “Moderate Buy” and an average price target of $123.50.

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.