Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna Cuts Stock Position in Construction Partners, Inc. $ROAD

Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna decreased its position in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 13.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,065 shares of the company’s stock after selling 5,850 shares during the period. Construction Partners comprises 1.9% of Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna’s investment portfolio, making the stock its 11th biggest position. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna owned approximately 0.07% of Construction Partners worth $4,834,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. TD Waterhouse Canada Inc. acquired a new position in Construction Partners in the 3rd quarter valued at about $25,000. AlphaQuest LLC lifted its position in shares of Construction Partners by 292.5% during the third quarter. AlphaQuest LLC now owns 208 shares of the company’s stock worth $26,000 after purchasing an additional 155 shares in the last quarter. MAI Capital Management purchased a new position in shares of Construction Partners in the second quarter valued at approximately $44,000. Mather Group LLC. purchased a new position in shares of Construction Partners in the third quarter valued at approximately $47,000. Finally, First Horizon Corp acquired a new position in shares of Construction Partners in the third quarter valued at approximately $49,000. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Construction Partners in a research note on Monday, December 29th. Zacks Research raised shares of Construction Partners from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 29th. DA Davidson boosted their price target on shares of Construction Partners from $120.00 to $130.00 and gave the stock a “neutral” rating in a research note on Friday, February 6th. Bank of America cut their price objective on Construction Partners from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, November 21st. Finally, B. Riley Financial started coverage on Construction Partners in a research note on Thursday, January 15th. They issued a “neutral” rating and a $117.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, two have issued 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 $127.80.

Construction Partners Stock Down 2.1%

ROAD stock opened at $113.97 on Friday. The company’s 50 day moving average price is $122.12 and its 200 day moving average price is $118.08. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.26 and a current ratio of 1.59. Construction Partners, Inc. has a fifty-two week low of $64.79 and a fifty-two week high of $141.90. The firm has a market capitalization of $6.44 billion, a price-to-earnings ratio of 51.80, a PEG ratio of 1.03 and a beta of 0.83.

Construction Partners (NASDAQ:ROAD) last issued its earnings results on Thursday, February 5th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.16. Construction Partners had a net margin of 3.99% and a return on equity of 15.26%. The firm had revenue of $809.47 million for the quarter, compared to analysts’ expectations of $740.14 million. During the same quarter last year, the company earned $0.25 earnings per share. The firm’s revenue was up 44.1% compared to the same quarter last year. On average, equities research analysts anticipate that Construction Partners, Inc. will post 1.96 EPS 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.