AGF Management Ltd. Buys Shares of 118,600 Construction Partners, Inc. $ROAD

AGF Management Ltd. bought a new position in Construction Partners, Inc. (NASDAQ:ROAD) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 118,600 shares of the company’s stock, valued at approximately $15,062,000. AGF Management Ltd. owned approximately 0.21% of Construction Partners at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. AQR Capital Management LLC boosted its position in shares of Construction Partners by 14.4% during the first quarter. AQR Capital Management LLC now owns 10,333 shares of the company’s stock valued at $743,000 after buying an additional 1,302 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Construction Partners by 11.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 96,191 shares of the company’s stock valued at $6,913,000 after acquiring an additional 9,656 shares during the period. Intech Investment Management LLC boosted its holdings in shares of Construction Partners by 11.4% during the 1st quarter. Intech Investment Management LLC now owns 24,292 shares of the company’s stock valued at $1,746,000 after acquiring an additional 2,482 shares during the last quarter. Strs Ohio bought a new stake in shares of Construction Partners in the first quarter worth approximately $165,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of Construction Partners during the second quarter valued at approximately $344,000. 94.83% of the stock is owned by institutional investors.

Construction Partners Stock Performance

NASDAQ:ROAD opened at $114.20 on Tuesday. 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 stock has a 50-day simple moving average of $110.57 and a two-hundred day simple moving average of $113.86. The firm has a market capitalization of $6.46 billion, a PE ratio of 62.40, a P/E/G ratio of 1.04 and a beta of 0.87. Construction Partners, Inc. has a 52-week low of $64.79 and a 52-week high of $138.90.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings data on Thursday, November 20th. The company reported $1.07 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.04). The company had revenue of $899.85 million during the quarter, compared to the consensus estimate of $896.17 million. Construction Partners had a return on equity of 14.42% and a net margin of 3.62%.The firm’s quarterly revenue was up 67.2% compared to the same quarter last year. During the same period last year, the business earned $0.56 EPS. Analysts forecast that Construction Partners, Inc. will post 1.96 EPS for the current year.

Wall Street Analysts Forecast Growth

ROAD has been the subject of a number of research analyst reports. B. Riley assumed coverage on shares of Construction Partners in a research report on Thursday, January 15th. They issued a “neutral” rating and a $117.00 target price for the company. Robert W. Baird cut their price objective on Construction Partners from $131.00 to $124.00 and set an “outperform” rating for the company in a report on Friday, November 21st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Construction Partners in a research report on Monday, December 29th. DA Davidson reissued a “neutral” rating and issued a $120.00 target price on shares of Construction Partners in a research report on Friday, November 21st. Finally, Bank of America cut their price target on Construction Partners from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, November 21st. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $122.20.

Construction Partners Profile

Construction Partners, Inc (NASDAQ: ROAD) is a specialty contractor and infrastructure solutions provider focused on road building, paving, site development and aggregate production. The company delivers a comprehensive suite of civil construction services, including roadway paving and milling, site grading and preparation, stormwater and utility installation, and full-scale asphalt plant operations. By integrating materials production with contracting capabilities, the firm aims to streamline project delivery and maintain quality control across its contracting and materials businesses.

At the heart of Construction Partners’ operations are its network of asphalt plants, quarries and aggregate production facilities.