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

Swiss National Bank lessened its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 0.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 85,600 shares of the company’s stock after selling 600 shares during the period. Swiss National Bank owned about 0.16% of Construction Partners worth $5,975,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Aubrey Capital Management Ltd acquired a new stake in Construction Partners during the third quarter worth approximately $4,410,000. KBC Group NV grew its holdings in shares of Construction Partners by 35.0% during the 3rd quarter. KBC Group NV now owns 1,417 shares of the company’s stock worth $99,000 after purchasing an additional 367 shares in the last quarter. Lisanti Capital Growth LLC grew its holdings in shares of Construction Partners by 54.4% during the 3rd quarter. Lisanti Capital Growth LLC now owns 102,050 shares of the company’s stock worth $7,123,000 after purchasing an additional 35,955 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Construction Partners by 4.1% in the third quarter. Principal Financial Group Inc. now owns 40,215 shares of the company’s stock worth $2,807,000 after purchasing an additional 1,596 shares during the period. Finally, HMS Capital Management LLC acquired a new position in Construction Partners in the third quarter valued at about $404,000. 94.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on ROAD. DA Davidson increased 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. Raymond James lifted their price objective on shares of Construction Partners from $69.00 to $72.00 and gave the company a “strong-buy” rating in a research note on Monday, August 12th. Robert W. Baird upped their target price on Construction Partners from $68.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Stifel Nicolaus lifted their price target on Construction Partners from $61.00 to $67.00 and gave the company a “buy” rating in a research note on Monday, August 12th. 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $69.00.

Construction Partners Price Performance

Shares of NASDAQ:ROAD opened at $99.52 on Wednesday. The firm has a 50 day simple moving average of $79.76 and a 200 day simple moving average of $66.10. The company has a market cap of $5.25 billion, a price-to-earnings ratio of 75.48, a PEG ratio of 1.22 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, Inc. has a one year low of $39.79 and a one year high of $102.57.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings data 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 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 analyst estimates of $538.04 million. During the same period in the prior year, the company earned $0.59 EPS. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. Research analysts predict 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.