Royce & Associates LP Sells 11,920 Shares of Construction Partners, Inc. $ROAD

Royce & Associates LP reduced its position in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 5.7% in the fourth quarter, Holdings Channel reports. The fund owned 197,454 shares of the company’s stock after selling 11,920 shares during the quarter. Royce & Associates LP’s holdings in Construction Partners were worth $21,434,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ROAD. AQR Capital Management LLC boosted its position in shares of Construction Partners by 14.4% during the 1st quarter. AQR Capital Management LLC now owns 10,333 shares of the company’s stock valued at $743,000 after acquiring an additional 1,302 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings 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 buying an additional 9,656 shares during the period. Intech Investment Management LLC raised its holdings in 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 buying an additional 2,482 shares during the period. Strs Ohio purchased a new stake in Construction Partners during the 1st quarter valued at $165,000. Finally, Hsbc Holdings PLC purchased a new stake in Construction Partners during the 2nd quarter valued at $552,000. 94.83% of the stock is currently owned by institutional investors.

Construction Partners Stock Performance

ROAD stock opened at $115.08 on Wednesday. The company has a quick ratio of 1.21, a current ratio of 1.53 and a debt-to-equity ratio of 1.75. The business’s fifty day simple moving average is $117.30 and its two-hundred day simple moving average is $116.32. Construction Partners, Inc. has a twelve month low of $93.22 and a twelve month high of $151.00. The firm has a market cap of $6.51 billion, a price-to-earnings ratio of 50.47, a PEG ratio of 0.94 and a beta of 0.92.

Construction Partners (NASDAQ:ROAD) last released its earnings results on Friday, May 8th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.23. Construction Partners had a return on equity of 15.22% and a net margin of 3.90%.The business had revenue of $769.20 million for the quarter, compared to analyst estimates of $678.46 million. During the same quarter last year, the firm posted $0.08 earnings per share. The business’s revenue was up 34.6% compared to the same quarter last year. Analysts predict that Construction Partners, Inc. will post 2.95 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ROAD shares. Robert W. Baird increased their price target on Construction Partners from $129.00 to $169.00 and gave the company an “outperform” rating in a report on Monday, May 11th. DA Davidson increased their price target on Construction Partners from $120.00 to $130.00 and gave the company a “neutral” rating in a report on Friday, February 6th. Raymond James Financial restated a “strong-buy” rating and set a $140.00 price target on shares of Construction Partners in a report on Monday, April 27th. Zacks Research lowered Construction Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Finally, B. Riley Financial upgraded Construction Partners from a “neutral” rating to a “buy” rating and increased their price target for the company from $117.00 to $135.00 in a report on Thursday, April 2nd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $137.80.

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.