Construction Partners, Inc. $ROAD Shares Bought by Squarepoint Ops LLC

Squarepoint Ops LLC boosted its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 27.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,431 shares of the company’s stock after purchasing an additional 7,262 shares during the period. Squarepoint Ops LLC owned approximately 0.06% of Construction Partners worth $3,553,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ROAD. Caitong International Asset Management Co. Ltd lifted its position in shares of Construction Partners by 2,750.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 285 shares of the company’s stock valued at $30,000 after acquiring an additional 275 shares during the last quarter. MAI Capital Management acquired a new stake in shares of Construction Partners during the second quarter worth $44,000. Hazlett Burt & Watson Inc. lifted its holdings in shares of Construction Partners by 88.9% during the second quarter. Hazlett Burt & Watson Inc. now owns 425 shares of the company’s stock valued at $45,000 after purchasing an additional 200 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Construction Partners by 161.1% during the second quarter. NewEdge Advisors LLC now owns 564 shares of the company’s stock valued at $60,000 after purchasing an additional 348 shares during the last quarter. Finally, Montag A & Associates Inc. boosted its position in shares of Construction Partners by 46.5% in the 2nd quarter. Montag A & Associates Inc. now owns 586 shares of the company’s stock valued at $62,000 after purchasing an additional 186 shares during the period. Institutional investors and hedge funds own 94.83% of the company’s stock.

Construction Partners Stock Up 3.1%

Construction Partners stock opened at $113.43 on Wednesday. The firm has a market cap of $6.41 billion, a PE ratio of 61.98, a P/E/G ratio of 1.05 and a beta of 0.88. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.34 and a current ratio of 1.61. The firm’s 50 day moving average price is $111.68 and its two-hundred day moving average price is $112.29. Construction Partners, Inc. has a twelve month low of $64.79 and a twelve month high of $138.90.

Construction Partners (NASDAQ:ROAD) last issued its earnings results on Thursday, November 20th. The company reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.04). Construction Partners had a net margin of 3.62% and a return on equity of 14.42%. The company had revenue of $899.85 million for the quarter, compared to analyst estimates of $896.17 million. During the same period last year, the business earned $0.56 EPS. The company’s quarterly revenue was up 67.2% on a year-over-year basis. On average, research analysts predict that Construction Partners, Inc. will post 1.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ROAD has been the topic of several recent analyst reports. Zacks Research downgraded Construction Partners from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Raymond James Financial restated a “strong-buy” rating and set a $135.00 price target (up previously from $120.00) on shares of Construction Partners in a report on Tuesday, October 21st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Construction Partners in a research note on Monday. DA Davidson reissued a “neutral” rating and set a $120.00 target price on shares of Construction Partners in a research note on Friday, November 21st. Finally, Robert W. Baird reduced their target price on Construction Partners from $131.00 to $124.00 and set an “outperform” rating for the company in a report on Friday, November 21st. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $123.50.

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.