Fmr LLC Lowers Stock Holdings in Construction Partners, Inc. (NASDAQ:ROAD)

Fmr LLC reduced its stake in Construction Partners, Inc. (NASDAQ:ROAD) by 1.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,764,218 shares of the company’s stock after selling 34,260 shares during the quarter. Fmr LLC’s holdings in Construction Partners were worth $123,142,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Dynamic Technology Lab Private Ltd purchased a new stake in Construction Partners in the third quarter valued at approximately $453,000. Nicolet Advisory Services LLC purchased a new stake in Construction Partners in the third quarter valued at approximately $208,000. Charles Schwab Investment Management Inc. raised its stake in Construction Partners by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 453,212 shares of the company’s stock valued at $31,634,000 after purchasing an additional 4,009 shares in the last quarter. Intech Investment Management LLC purchased a new stake in Construction Partners in the third quarter valued at approximately $778,000. Finally, Advisors Asset Management Inc. raised its stake in shares of Construction Partners by 3.6% during the third quarter. Advisors Asset Management Inc. now owns 75,749 shares of the company’s stock worth $5,287,000 after acquiring an additional 2,647 shares in the last quarter. 94.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on ROAD. DA Davidson lifted their price target on shares of Construction Partners from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Raymond James lifted their price target on shares of Construction Partners from $69.00 to $72.00 and gave the stock a “strong-buy” rating in a research note on Monday, August 12th. Stifel Nicolaus lifted their price target on shares of Construction Partners from $61.00 to $67.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, Robert W. Baird lifted their price target 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 research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $69.00.

Construction Partners Stock Up 0.4 %

Shares of Construction Partners stock opened at $101.15 on Thursday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.26 and a current ratio of 1.54. Construction Partners, Inc. has a 52-week low of $39.79 and a 52-week high of $103.69. The stock has a market capitalization of $5.65 billion, a price-to-earnings ratio of 76.86, a P/E/G ratio of 1.20 and a beta of 0.70. The company’s 50 day moving average price is $83.16 and its 200-day moving average price is $68.01.

Construction Partners (NASDAQ:ROAD) last issued its earnings results on Thursday, November 21st. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.01). Construction Partners had a return on equity of 12.90% and a net margin of 3.78%. The firm had revenue of $538.16 million during the quarter, compared to the consensus estimate of $538.04 million. During the same quarter in the prior year, the business posted $0.59 EPS. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. Equities research analysts forecast that Construction Partners, Inc. will post 1.96 EPS for the current 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.