Zurcher Kantonalbank Zurich Cantonalbank Has $561,000 Stock Holdings in Construction Partners, Inc. (NASDAQ:ROAD)

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in Construction Partners, Inc. (NASDAQ:ROAD) by 24.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,034 shares of the company’s stock after selling 2,669 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Construction Partners were worth $561,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in ROAD. Conestoga Capital Advisors LLC grew its holdings in Construction Partners by 3.0% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 4,135,202 shares of the company’s stock worth $228,305,000 after acquiring an additional 120,155 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Construction Partners by 2.6% in the second quarter. Dimensional Fund Advisors LP now owns 972,400 shares of the company’s stock worth $53,687,000 after purchasing an additional 24,828 shares during the last quarter. American Century Companies Inc. increased its holdings in Construction Partners by 8.0% in the second quarter. American Century Companies Inc. now owns 949,123 shares of the company’s stock valued at $52,401,000 after purchasing an additional 70,099 shares during the period. Driehaus Capital Management LLC raised its position in Construction Partners by 31.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 569,440 shares of the company’s stock worth $31,439,000 after purchasing an additional 137,572 shares during the last quarter. Finally, Hood River Capital Management LLC lifted its holdings in Construction Partners by 16.1% during the 2nd quarter. Hood River Capital Management LLC now owns 476,021 shares of the company’s stock worth $26,281,000 after buying an additional 66,021 shares during the period. Institutional investors own 94.83% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ROAD shares. Stifel Nicolaus raised their price objective on Construction Partners from $61.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. DA Davidson increased their target price on shares of Construction Partners from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Raymond James boosted 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. Finally, Robert W. Baird increased their price objective on shares of Construction Partners from $68.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Three 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 MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $69.00.

Insider Activity

In related news, Director Charles E. Owens sold 49,695 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $100.81, for a total transaction of $5,009,752.95. Following the transaction, the director now directly owns 130,291 shares of the company’s stock, valued at approximately $13,134,635.71. This represents a 27.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 18.80% of the company’s stock.

Construction Partners Trading Up 2.6 %

Shares of ROAD stock opened at $101.86 on Friday. The company has a market cap of $5.69 billion, a P/E ratio of 77.17, a PEG ratio of 1.21 and a beta of 0.70. Construction Partners, Inc. has a fifty-two week low of $39.79 and a fifty-two week high of $103.69. The stock has a 50 day simple moving average of $85.01 and a two-hundred day simple moving average of $68.85. 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 (NASDAQ:ROAD) last released its quarterly earnings data on Thursday, November 21st. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.01). The company had revenue of $538.16 million during the quarter, compared to the consensus estimate of $538.04 million. Construction Partners had a net margin of 3.78% and a return on equity of 12.90%. The business’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.59 EPS. Research analysts forecast that Construction Partners, Inc. will post 1.96 earnings per share 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.