Construction Partners, Inc. $ROAD Stake Lifted by SG Americas Securities LLC

SG Americas Securities LLC raised its holdings in Construction Partners, Inc. (NASDAQ:ROAD) by 50.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,857 shares of the company’s stock after acquiring an additional 4,317 shares during the quarter. SG Americas Securities LLC’s holdings in Construction Partners were worth $1,366,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Atria Investments Inc boosted its stake in Construction Partners by 5.5% during the 2nd quarter. Atria Investments Inc now owns 16,129 shares of the company’s stock worth $1,714,000 after acquiring an additional 835 shares during the last quarter. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Construction Partners in the second quarter valued at about $542,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Construction Partners in the second quarter valued at approximately $344,000. GAMMA Investing LLC boosted its stake in shares of Construction Partners by 33.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,164 shares of the company’s stock worth $124,000 after buying an additional 293 shares during the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Construction Partners in the second quarter valued at about $802,000. 94.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ROAD has been the topic of a number of research analyst reports. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $135.00 target price (up from $120.00) on shares of Construction Partners in a report on Tuesday, October 21st. DA Davidson reiterated a “neutral” rating and issued a $120.00 price target on shares of Construction Partners in a research note on Friday. Zacks Research cut shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Bank of America decreased their price target on Construction Partners from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Baird R W upgraded Construction Partners from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 8th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.50.

Construction Partners Stock Performance

NASDAQ:ROAD opened at $101.16 on Friday. The company has a fifty day moving average of $118.76 and a 200-day moving average of $111.32. Construction Partners, Inc. has a twelve month low of $64.79 and a twelve month high of $138.90. The firm has a market capitalization of $5.67 billion, a P/E ratio of 55.28, a P/E/G ratio of 0.89 and a beta of 1.02. The company has a quick ratio of 1.20, a current ratio of 1.47 and a debt-to-equity ratio of 1.63.

Construction Partners (NASDAQ:ROAD) last issued its earnings results on Thursday, November 20th. The company reported $1.07 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.04). Construction Partners had a net margin of 3.62% and a return on equity of 14.80%. The firm had revenue of $899.85 million during the quarter, compared to analyst estimates of $896.17 million. During the same quarter in the prior year, the business earned $0.56 earnings per share. The business’s quarterly revenue was up 67.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Construction Partners, Inc. will post 1.96 EPS for the current year.

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.