Cornerstone Investment Partners LLC Takes Position in Construction Partners, Inc. (NASDAQ:ROAD)

Cornerstone Investment Partners LLC acquired a new stake in Construction Partners, Inc. (NASDAQ:ROAD) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 4,800 shares of the company’s stock, valued at approximately $209,000.

A number of other hedge funds also recently made changes to their positions in the business. Bank of New York Mellon Corp increased its position in shares of Construction Partners by 11.7% during the 1st quarter. Bank of New York Mellon Corp now owns 573,400 shares of the company’s stock worth $15,012,000 after purchasing an additional 59,957 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Construction Partners during the 1st quarter worth about $229,000. MetLife Investment Management LLC increased its position in shares of Construction Partners by 82.3% during the 1st quarter. MetLife Investment Management LLC now owns 21,313 shares of the company’s stock worth $558,000 after purchasing an additional 9,622 shares in the last quarter. Rhumbline Advisers increased its position in shares of Construction Partners by 38.5% during the 1st quarter. Rhumbline Advisers now owns 34,539 shares of the company’s stock worth $904,000 after purchasing an additional 9,598 shares in the last quarter. Finally, BlackRock Inc. increased its position in shares of Construction Partners by 23.2% during the 1st quarter. BlackRock Inc. now owns 2,655,171 shares of the company’s stock worth $69,511,000 after purchasing an additional 500,697 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ROAD shares. Sidoti lowered shares of Construction Partners from a “buy” rating to a “neutral” rating and set a $59.00 price objective on the stock. in a report on Thursday, March 28th. Stifel Nicolaus increased their price objective on shares of Construction Partners from $51.00 to $57.00 and gave the stock a “buy” rating in a report on Monday, February 12th. Finally, Robert W. Baird lowered shares of Construction Partners from an “outperform” rating to a “neutral” rating and increased their price objective for the stock from $46.00 to $50.00 in a report on Monday, February 12th. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $52.00.

Construction Partners Stock Down 2.5 %

Shares of NASDAQ ROAD opened at $50.03 on Friday. The firm has a market capitalization of $2.64 billion, a PE ratio of 46.32, a price-to-earnings-growth ratio of 1.33 and a beta of 0.65. The company has a current ratio of 1.75, a quick ratio of 1.39 and a debt-to-equity ratio of 0.82. Construction Partners, Inc. has a 1 year low of $24.20 and a 1 year high of $58.65. The firm’s 50-day moving average is $51.82 and its 200-day moving average is $45.39.

Construction Partners (NASDAQ:ROAD) last issued its earnings results on Friday, February 9th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.06. The company had revenue of $396.51 million for the quarter, compared to analyst estimates of $393.62 million. Construction Partners had a net margin of 3.52% and a return on equity of 11.56%. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.04 EPS. Equities analysts expect that Construction Partners, Inc. will post 1.34 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.