Construction Partners, Inc. $ROAD Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue increased its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 219.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,265 shares of the company’s stock after acquiring an additional 5,679 shares during the period. State of Alaska Department of Revenue’s holdings in Construction Partners were worth $896,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. TD Waterhouse Canada Inc. acquired a new position in shares of Construction Partners during the 3rd quarter worth approximately $25,000. AlphaQuest LLC raised its stake in shares of Construction Partners by 292.5% during the 3rd quarter. AlphaQuest LLC now owns 208 shares of the company’s stock worth $26,000 after buying an additional 155 shares during the period. Morse Asset Management Inc raised its stake in shares of Construction Partners by 300.0% during the 3rd quarter. Morse Asset Management Inc now owns 240 shares of the company’s stock worth $30,000 after buying an additional 180 shares during the period. Danske Bank A S acquired a new position in shares of Construction Partners during the 3rd quarter worth approximately $38,000. Finally, Quarry LP acquired a new position in shares of Construction Partners during the 3rd quarter worth approximately $42,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Construction Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday. B. Riley Financial upgraded shares of Construction Partners from a “neutral” rating to a “buy” rating and lifted their target price for the company from $117.00 to $135.00 in a research report on Thursday, April 2nd. Robert W. Baird set a $142.00 target price on shares of Construction Partners in a research report on Friday, February 6th. DA Davidson lifted their target price on shares of Construction Partners from $120.00 to $130.00 and gave the company a “neutral” rating in a research report on Friday, February 6th. Finally, Zacks Research raised Construction Partners from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 29th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $131.40.

Construction Partners Stock Down 1.8%

ROAD stock opened at $121.01 on Thursday. The company has a market cap of $6.84 billion, a price-to-earnings ratio of 55.00, a PEG ratio of 1.09 and a beta of 0.92. The company has a current ratio of 1.59, a quick ratio of 1.26 and a debt-to-equity ratio of 1.76. Construction Partners, Inc. has a 12 month low of $76.61 and a 12 month high of $141.90. The firm has a 50-day moving average of $120.85 and a two-hundred day moving average of $115.81.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings data on Thursday, February 5th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.16. The company had revenue of $809.47 million for the quarter, compared to analyst estimates of $740.14 million. Construction Partners had a return on equity of 15.26% and a net margin of 3.99%.The firm’s revenue for the quarter was up 44.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 earnings per share. As a group, analysts forecast that Construction Partners, Inc. will post 2.89 earnings per share for the current fiscal year.

About Construction Partners

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.