Calamos Advisors LLC Reduces Position in Construction Partners, Inc. (NASDAQ:ROAD)

Calamos Advisors LLC lessened its position in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 51.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 25,281 shares of the company’s stock after selling 27,215 shares during the quarter. Calamos Advisors LLC’s holdings in Construction Partners were worth $1,396,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ROAD. Geneva Capital Management LLC lifted its position in Construction Partners by 8.5% during the 1st quarter. Geneva Capital Management LLC now owns 3,408,788 shares of the company’s stock worth $191,403,000 after acquiring an additional 268,225 shares during the period. Vanguard Group Inc. lifted its position in Construction Partners by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 2,415,461 shares of the company’s stock worth $135,628,000 after acquiring an additional 69,223 shares during the period. Wasatch Advisors LP lifted its position in Construction Partners by 188.3% during the 1st quarter. Wasatch Advisors LP now owns 1,692,328 shares of the company’s stock worth $95,024,000 after acquiring an additional 1,105,423 shares during the period. Dimensional Fund Advisors LP lifted its position in Construction Partners by 13.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 893,748 shares of the company’s stock worth $38,897,000 after acquiring an additional 105,346 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Construction Partners by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 442,466 shares of the company’s stock worth $19,256,000 after acquiring an additional 3,647 shares during the period. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on ROAD shares. DA Davidson increased their price objective on Construction Partners from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Robert W. Baird increased their price objective on Construction Partners from $50.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, May 13th. Raymond James raised their price target on Construction Partners from $69.00 to $72.00 and gave the company a “strong-buy” rating in a report on Monday, August 12th. Finally, Stifel Nicolaus raised their price target on Construction Partners from $61.00 to $67.00 and gave the company a “buy” rating in a report on Monday, August 12th. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $59.67.

Construction Partners Stock Up 4.4 %

ROAD opened at $64.67 on Monday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.60 and a quick ratio of 1.30. The business has a 50 day simple moving average of $58.34 and a 200-day simple moving average of $55.04. The stock has a market capitalization of $3.41 billion, a P/E ratio of 55.27, a P/E/G ratio of 1.39 and a beta of 0.66. Construction Partners, Inc. has a 12 month low of $33.15 and a 12 month high of $66.78.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings results on Friday, August 9th. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.54 by $0.05. Construction Partners had a return on equity of 13.34% and a net margin of 4.01%. The business had revenue of $517.80 million during the quarter, compared to analysts’ expectations of $503.57 million. During the same period last year, the firm earned $0.41 EPS. The company’s quarterly revenue was up 22.7% compared to the same quarter last year. On average, equities analysts anticipate that Construction Partners, Inc. will post 1.44 earnings per share for the current fiscal year.

Construction Partners Company 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.