Los Angeles Capital Management LLC Takes Position in Construction Partners, Inc. $ROAD

Los Angeles Capital Management LLC acquired a new stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 11,076 shares of the company’s stock, valued at approximately $1,177,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ROAD. Manchester Capital Management LLC lifted its holdings in Construction Partners by 9.2% during the first quarter. Manchester Capital Management LLC now owns 1,461 shares of the company’s stock valued at $105,000 after purchasing an additional 123 shares in the last quarter. ANB Bank raised its position in shares of Construction Partners by 4.2% during the 1st quarter. ANB Bank now owns 4,105 shares of the company’s stock valued at $295,000 after purchasing an additional 164 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Construction Partners by 29.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 743 shares of the company’s stock valued at $79,000 after buying an additional 170 shares in the last quarter. Summit Investment Advisors Inc. boosted its holdings in Construction Partners by 4.1% in the 1st quarter. Summit Investment Advisors Inc. now owns 4,676 shares of the company’s stock worth $336,000 after buying an additional 184 shares during the period. Finally, Stephens Inc. AR increased its stake in Construction Partners by 2.3% in the 1st quarter. Stephens Inc. AR now owns 8,498 shares of the company’s stock worth $611,000 after buying an additional 187 shares in the last quarter. Institutional investors own 94.83% of the company’s stock.

Construction Partners Trading Up 1.1%

ROAD stock opened at $111.68 on Thursday. The firm has a fifty day moving average price of $121.43 and a 200 day moving average price of $110.57. Construction Partners, Inc. has a fifty-two week low of $64.79 and a fifty-two week high of $138.90. The firm has a market cap of $6.26 billion, a PE ratio of 81.52, a price-to-earnings-growth ratio of 0.98 and a beta of 1.02. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.20 and a current ratio of 1.47.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ROAD shares. Zacks Research downgraded Construction Partners from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Weiss Ratings reissued a “hold (c+)” rating on shares of Construction Partners in a research note on Wednesday, October 8th. DA Davidson boosted their price target on Construction Partners from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, October 23rd. Raymond James Financial reaffirmed a “strong-buy” rating and set a $135.00 price objective (up from $120.00) on shares of Construction Partners in a report on Tuesday, October 21st. Finally, Robert W. Baird set a $122.00 price objective on shares of Construction Partners and gave the company an “outperform” rating in a research report on Friday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $125.67.

Construction Partners Profile

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.