Creative Planning Has $493,000 Stock Position in Construction Partners, Inc. (NASDAQ:ROAD)

Creative Planning lifted its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 22.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,060 shares of the company’s stock after purchasing an additional 1,311 shares during the quarter. Creative Planning’s holdings in Construction Partners were worth $493,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Clearbridge Investments LLC bought a new position in shares of Construction Partners during the 2nd quarter worth about $20,360,000. TimesSquare Capital Management LLC acquired a new stake in Construction Partners in the 1st quarter valued at about $19,832,000. Driehaus Capital Management LLC increased its position in Construction Partners by 31.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 569,440 shares of the company’s stock valued at $31,439,000 after acquiring an additional 137,572 shares in the last quarter. Conestoga Capital Advisors LLC increased its position in Construction Partners by 3.0% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 4,135,202 shares of the company’s stock valued at $228,305,000 after acquiring an additional 120,155 shares in the last quarter. Finally, Engle Capital Management L.P. acquired a new stake in shares of Construction Partners during the 2nd quarter worth approximately $5,742,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on ROAD. 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 report on Monday, August 12th. 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 report on Monday, August 12th. Robert W. Baird lifted their price objective 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. Finally, DA Davidson lifted their price objective 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. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $69.00.

Insider Buying and Selling at Construction Partners

In other news, Director Mark R. Matteson sold 25,408 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $61.97, for a total value of $1,574,533.76. Following the sale, the director now owns 102,592 shares of the company’s stock, valued at $6,357,626.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 18.80% of the company’s stock.

Construction Partners Stock Up 12.4 %

Construction Partners stock opened at $90.93 on Thursday. The company’s 50 day simple moving average is $71.46 and its 200 day simple moving average is $62.20. Construction Partners, Inc. has a fifty-two week low of $38.37 and a fifty-two week high of $91.65. The firm has a market capitalization of $4.80 billion, a price-to-earnings ratio of 67.36, a PEG ratio of 1.42 and a beta of 0.65. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.60 and a quick ratio of 1.30.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings results on Friday, August 9th. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.05. Construction Partners had a net margin of 4.01% and a return on equity of 13.34%. The firm had revenue of $517.80 million for the quarter, compared to analyst estimates of $503.57 million. During the same quarter in the previous year, the firm posted $0.41 earnings per share. The business’s revenue was up 22.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Construction Partners, Inc. will post 1.33 EPS for the current year.

Construction Partners 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.