Construction Partners, Inc. (NASDAQ:ROAD) Shares Purchased by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. raised its stake in Construction Partners, Inc. (NASDAQ:ROAD) by 44.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,518 shares of the company’s stock after acquiring an additional 14,936 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Construction Partners were worth $2,112,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of ROAD. NBC Securities Inc. acquired a new position in shares of Construction Partners in the 3rd quarter valued at $26,000. Public Employees Retirement System of Ohio increased its holdings in Construction Partners by 40.4% in the third quarter. Public Employees Retirement System of Ohio now owns 1,102 shares of the company’s stock valued at $29,000 after buying an additional 317 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Construction Partners by 304.5% in the first quarter. Tower Research Capital LLC TRC now owns 1,169 shares of the company’s stock worth $31,000 after acquiring an additional 880 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Construction Partners during the 1st quarter worth about $36,000. Finally, Operose Advisors LLC acquired a new stake in shares of Construction Partners during the 3rd quarter valued at about $38,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Construction Partners Price Performance

NASDAQ:ROAD opened at $56.85 on Wednesday. The stock has a 50 day moving average of $50.86 and a two-hundred day moving average of $44.52. Construction Partners, Inc. has a 12 month low of $24.20 and a 12 month high of $58.65. The firm has a market cap of $3.00 billion, a P/E ratio of 52.64, a price-to-earnings-growth ratio of 1.48 and a beta of 0.65. The company has a current ratio of 1.75, a quick ratio of 1.39 and a debt-to-equity ratio of 0.82.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings results on Friday, February 9th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.13 by $0.06. The firm had revenue of $396.51 million during the quarter, compared to analysts’ expectations of $393.62 million. Construction Partners had a return on equity of 11.56% and a net margin of 3.52%. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.04 earnings per share. On average, analysts expect that Construction Partners, Inc. will post 1.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Stifel Nicolaus upped their price target on Construction Partners from $51.00 to $57.00 and gave the stock a “buy” rating in a report on Monday, February 12th. Sidoti downgraded Construction Partners from a “buy” rating to a “neutral” rating and set a $59.00 target price for the company. in a research note on Thursday, March 28th. Finally, Robert W. Baird cut shares of Construction Partners from an “outperform” rating to a “neutral” rating and lifted their price target for the company from $46.00 to $50.00 in a research note on Monday, February 12th. Two analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $52.00.

About Construction Partners

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.