14,500 Shares in Construction Partners, Inc. (NASDAQ:ROAD) Acquired by Nkcfo LLC

Nkcfo LLC acquired a new position in Construction Partners, Inc. (NASDAQ:ROAD) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 14,500 shares of the company’s stock, valued at approximately $631,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Construction Partners by 8.6% during the 3rd quarter. Vanguard Group Inc. now owns 2,290,486 shares of the company’s stock valued at $83,740,000 after purchasing an additional 181,017 shares in the last quarter. Invesco Ltd. boosted its stake in Construction Partners by 2.6% during the 3rd quarter. Invesco Ltd. now owns 2,225,619 shares of the company’s stock valued at $81,369,000 after purchasing an additional 56,595 shares in the last quarter. American Century Companies Inc. boosted its stake in Construction Partners by 15.0% during the 3rd quarter. American Century Companies Inc. now owns 1,316,081 shares of the company’s stock valued at $48,116,000 after purchasing an additional 172,109 shares in the last quarter. FMR LLC boosted its stake in Construction Partners by 1.0% during the 3rd quarter. FMR LLC now owns 637,763 shares of the company’s stock valued at $23,317,000 after purchasing an additional 6,304 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in Construction Partners by 1.1% during the 3rd quarter. Jennison Associates LLC now owns 634,854 shares of the company’s stock valued at $23,210,000 after purchasing an additional 6,772 shares in the last quarter. 94.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Construction Partners Stock Up 0.4 %

Shares of ROAD traded up $0.19 during mid-day trading on Friday, reaching $51.50. The company’s stock had a trading volume of 339,159 shares, compared to its average volume of 368,354. The business has a fifty day moving average of $52.79 and a 200 day moving average of $46.34. The company has a market cap of $2.71 billion, a price-to-earnings ratio of 47.69, a price-to-earnings-growth ratio of 1.33 and a beta of 0.68. Construction Partners, Inc. has a 1 year low of $24.20 and a 1 year high of $58.65. The company has a quick ratio of 1.39, a current ratio of 1.75 and a debt-to-equity ratio of 0.82.

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

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.