Swiss National Bank Sells 600 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Swiss National Bank cut its stake in Construction Partners, Inc. (NASDAQ:ROAD) by 0.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 85,600 shares of the company’s stock after selling 600 shares during the period. Swiss National Bank’s holdings in Construction Partners were worth $5,975,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ROAD. Aubrey Capital Management Ltd acquired a new position in shares of Construction Partners in the 3rd quarter worth approximately $4,410,000. KBC Group NV raised its stake in Construction Partners by 35.0% during the third quarter. KBC Group NV now owns 1,417 shares of the company’s stock worth $99,000 after buying an additional 367 shares during the last quarter. Lisanti Capital Growth LLC lifted its holdings in Construction Partners by 54.4% in the third quarter. Lisanti Capital Growth LLC now owns 102,050 shares of the company’s stock valued at $7,123,000 after buying an additional 35,955 shares during the period. Principal Financial Group Inc. boosted its position in Construction Partners by 4.1% during the third quarter. Principal Financial Group Inc. now owns 40,215 shares of the company’s stock valued at $2,807,000 after acquiring an additional 1,596 shares during the last quarter. Finally, HMS Capital Management LLC acquired a new stake in Construction Partners during the 3rd quarter worth about $404,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Stifel Nicolaus upped their target price on Construction Partners from $61.00 to $67.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Raymond James increased their price target on Construction Partners from $69.00 to $72.00 and gave the stock a “strong-buy” rating in a report on Monday, August 12th. DA Davidson lifted their price objective on shares of Construction Partners from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Finally, Robert W. Baird increased their target price on shares of Construction Partners from $68.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.00.

Construction Partners Trading Down 1.7 %

NASDAQ ROAD opened at $99.52 on Wednesday. The company has a quick ratio of 1.30, a current ratio of 1.60 and a debt-to-equity ratio of 0.82. The business has a 50 day moving average price of $79.76 and a 200-day moving average price of $66.10. Construction Partners, Inc. has a 52 week low of $39.79 and a 52 week high of $102.57. The company has a market cap of $5.25 billion, a price-to-earnings ratio of 75.48, a P/E/G ratio of 1.22 and a beta of 0.65.

Construction Partners (NASDAQ:ROAD) last announced its earnings results on Thursday, November 21st. The company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.01). Construction Partners had a net margin of 3.78% and a return on equity of 13.15%. The firm had revenue of $538.16 million during the quarter, compared to analysts’ expectations of $538.04 million. During the same quarter in the prior year, the company earned $0.59 EPS. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. As a group, equities analysts expect that Construction Partners, Inc. will post 1.91 earnings per share for the current fiscal year.

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.