Arkadios Wealth Advisors Buys Shares of 4,461 Construction Partners, Inc. $ROAD

Arkadios Wealth Advisors 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 4,461 shares of the company’s stock, valued at approximately $567,000.

Other large investors have also recently made changes to their positions in the company. Invesco Ltd. increased its holdings in Construction Partners by 4.2% in the 2nd quarter. Invesco Ltd. now owns 1,308,761 shares of the company’s stock worth $139,095,000 after acquiring an additional 52,670 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Construction Partners by 1.6% in the second quarter. Geode Capital Management LLC now owns 1,153,123 shares of the company’s stock worth $122,568,000 after purchasing an additional 18,229 shares during the period. State Street Corp increased its stake in shares of Construction Partners by 4.7% in the second quarter. State Street Corp now owns 1,112,231 shares of the company’s stock worth $118,208,000 after purchasing an additional 49,898 shares in the last quarter. American Century Companies Inc. raised its position in shares of Construction Partners by 19.9% during the 2nd quarter. American Century Companies Inc. now owns 984,879 shares of the company’s stock valued at $104,673,000 after purchasing an additional 163,334 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of Construction Partners by 6.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 842,535 shares of the company’s stock valued at $89,545,000 after purchasing an additional 49,542 shares during the period. 94.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ROAD has been the subject of several recent analyst reports. Zacks Research downgraded shares of Construction Partners from a “hold” rating to a “strong sell” rating in a report on Monday, January 12th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $135.00 price objective (up previously from $120.00) on shares of Construction Partners in a research note on Tuesday, October 21st. Weiss Ratings reissued a “hold (c+)” rating on shares of Construction Partners in a research note on Monday, December 29th. Bank of America lowered their price target on Construction Partners from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, November 21st. Finally, B. Riley initiated coverage on shares of Construction Partners in a report on Thursday, January 15th. They set a “neutral” rating and a $117.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $122.20.

Construction Partners Stock Up 1.6%

Shares of NASDAQ ROAD opened at $112.76 on Tuesday. The firm has a 50-day simple moving average of $109.63 and a two-hundred day simple moving average of $113.70. Construction Partners, Inc. has a 1 year low of $64.79 and a 1 year high of $138.90. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.61 and a quick ratio of 1.34. The company has a market cap of $6.37 billion, a P/E ratio of 61.62, a PEG ratio of 1.05 and a beta of 0.87.

Construction Partners (NASDAQ:ROAD) last announced 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 during the quarter, compared to the consensus estimate 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 for the quarter was up 67.2% compared to the same quarter last year. During the same period last year, the company earned $0.56 EPS. Research analysts anticipate that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

Construction Partners Company 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.