Benjamin F. Edwards & Company Inc. Buys 653 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Benjamin F. Edwards & Company Inc. increased its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 55.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,831 shares of the company’s stock after buying an additional 653 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Construction Partners were worth $101,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Covestor Ltd increased its holdings in shares of Construction Partners by 17,700.0% during the first quarter. Covestor Ltd now owns 534 shares of the company’s stock worth $30,000 after purchasing an additional 531 shares during the period. ICA Group Wealth Management LLC acquired a new stake in shares of Construction Partners during the 4th quarter worth $30,000. YHB Investment Advisors Inc. acquired a new position in Construction Partners in the first quarter valued at about $116,000. nVerses Capital LLC bought a new stake in Construction Partners during the second quarter worth about $116,000. Finally, SG Americas Securities LLC acquired a new stake in Construction Partners during the first quarter worth about $139,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

Construction Partners Stock Performance

Shares of Construction Partners stock opened at $69.58 on Friday. The stock has a market cap of $3.67 billion, a price-to-earnings ratio of 59.47, a P/E/G ratio of 1.61 and a beta of 0.67. The company has a quick ratio of 1.30, a current ratio of 1.60 and a debt-to-equity ratio of 0.82. Construction Partners, Inc. has a twelve month low of $35.46 and a twelve month high of $76.73. The company’s fifty day moving average is $63.16 and its 200 day moving average is $58.01.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings results on Friday, August 9th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.05. The company had revenue of $517.80 million during the quarter, compared to analysts’ expectations of $503.57 million. Construction Partners had a return on equity of 13.34% and a net margin of 4.01%. The business’s quarterly revenue was up 22.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.41 earnings per share. Sell-side analysts forecast that Construction Partners, Inc. will post 1.43 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on ROAD. DA Davidson increased their price target on shares of Construction Partners from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Raymond James boosted their price target on Construction Partners from $69.00 to $72.00 and gave the stock a “strong-buy” rating in a report on Monday, August 12th. Finally, Stifel Nicolaus raised their price objective 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 equities 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $59.67.

Insiders Place Their Bets

In other news, Director Mark R. Matteson sold 25,408 shares of the company’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 directly owns 102,592 shares of the company’s stock, valued at approximately $6,357,626.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 18.80% of the company’s stock.

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.