Hardy Reed LLC Invests $208,000 in Construction Partners, Inc. (NASDAQ:ROAD)

Hardy Reed LLC bought a new position in shares of Construction Partners, Inc. (NASDAQ:ROAD) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,975 shares of the company’s stock, valued at approximately $208,000.

Several other large investors have also recently bought and sold shares of the stock. Clearbridge Investments LLC acquired a new position in shares of Construction Partners in the second quarter valued at approximately $20,360,000. Segall Bryant & Hamill LLC acquired a new position in Construction Partners in the 3rd quarter valued at $10,377,000. Driehaus Capital Management LLC increased its position in Construction Partners by 31.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 569,440 shares of the company’s stock worth $31,439,000 after buying an additional 137,572 shares during the period. Conestoga Capital Advisors LLC lifted its holdings in shares of Construction Partners by 3.0% during the second quarter. Conestoga Capital Advisors LLC now owns 4,135,202 shares of the company’s stock worth $228,305,000 after buying an additional 120,155 shares in the last quarter. Finally, Engle Capital Management L.P. bought a new stake in shares of Construction Partners in the second quarter valued at about $5,742,000. 94.83% of the stock is owned by institutional investors.

Construction Partners Stock Performance

Shares of Construction Partners stock opened at $99.52 on Wednesday. The company has a current ratio of 1.60, a quick ratio of 1.30 and a debt-to-equity ratio of 0.82. The company has a market cap of $5.25 billion, a PE ratio of 75.39, a price-to-earnings-growth ratio of 1.24 and a beta of 0.65. The company has a 50 day moving average of $79.76 and a 200-day moving average of $66.10. Construction Partners, Inc. has a 1-year low of $39.79 and a 1-year high of $102.57.

Construction Partners (NASDAQ:ROAD) last issued its earnings results on Thursday, November 21st. The company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). Construction Partners had a net margin of 3.78% and a return on equity of 13.15%. The business had revenue of $538.16 million during the quarter, compared to analyst estimates of $538.04 million. During the same period in the prior year, the business posted $0.59 EPS. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. As a group, equities research analysts forecast that Construction Partners, Inc. will post 1.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ROAD. Raymond James lifted their price objective on shares of Construction Partners from $69.00 to $72.00 and gave the stock a “strong-buy” rating in a research note on Monday, August 12th. Stifel Nicolaus lifted their price target on shares of Construction Partners from $61.00 to $67.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Robert W. Baird increased their price target on Construction Partners from $68.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Finally, DA Davidson raised their price objective on Construction Partners from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $69.00.

Construction Partners Company 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.