Opal Capital LLC Purchases Shares of 18,879 Construction Partners, Inc. $ROAD

Opal Capital LLC purchased a new stake in Construction Partners, Inc. (NASDAQ:ROAD) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 18,879 shares of the company’s stock, valued at approximately $2,049,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tyro Capital Management LLC boosted its position in Construction Partners by 6.8% in the 3rd quarter. Tyro Capital Management LLC now owns 164,488 shares of the company’s stock valued at $20,890,000 after buying an additional 10,465 shares during the period. American Century Companies Inc. boosted its position in Construction Partners by 5.6% in the 3rd quarter. American Century Companies Inc. now owns 1,039,928 shares of the company’s stock valued at $132,071,000 after buying an additional 55,049 shares during the period. Telligent Fund LP purchased a new position in Construction Partners in the 3rd quarter valued at approximately $1,016,000. First Trust Advisors LP boosted its position in Construction Partners by 33.2% in the 3rd quarter. First Trust Advisors LP now owns 1,059,566 shares of the company’s stock valued at $134,565,000 after buying an additional 264,069 shares during the period. Finally, Pinnbrook Capital Management LP purchased a new position in Construction Partners in the 3rd quarter valued at approximately $6,277,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Construction Partners Price Performance

Shares of NASDAQ:ROAD opened at $122.01 on Wednesday. The company’s fifty day moving average price is $117.86 and its 200 day moving average price is $116.94. Construction Partners, Inc. has a 12 month low of $93.22 and a 12 month high of $151.00. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.53 and a quick ratio of 1.21. The firm has a market capitalization of $6.90 billion, a P/E ratio of 53.51, a P/E/G ratio of 1.00 and a beta of 0.88.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings results on Friday, May 8th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.23. Construction Partners had a net margin of 3.90% and a return on equity of 15.22%. The firm had revenue of $769.20 million for the quarter, compared to analyst estimates of $678.46 million. During the same period last year, the business earned $0.08 EPS. Construction Partners’s revenue for the quarter was up 34.6% compared to the same quarter last year. As a group, sell-side analysts predict that Construction Partners, Inc. will post 2.95 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ROAD has been the subject of several recent research reports. Robert W. Baird raised their price target on shares of Construction Partners from $129.00 to $169.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $140.00 price objective on shares of Construction Partners in a research report on Monday, April 27th. Weiss Ratings cut shares of Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Zacks Research cut shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Finally, Truist Financial assumed coverage on shares of Construction Partners in a research report on Wednesday, June 3rd. They set a “hold” rating and a $130.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $136.50.

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.