Hood River Capital Management LLC Grows Stake in Construction Partners, Inc. (NASDAQ:ROAD)

Hood River Capital Management LLC grew its position in Construction Partners, Inc. (NASDAQ:ROAD) by 16.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 476,021 shares of the company’s stock after buying an additional 66,021 shares during the quarter. Hood River Capital Management LLC owned 0.90% of Construction Partners worth $26,281,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Covestor Ltd lifted its stake in Construction Partners by 17,700.0% in the first quarter. Covestor Ltd now owns 534 shares of the company’s stock worth $30,000 after acquiring an additional 531 shares during the period. ICA Group Wealth Management LLC purchased a new stake in shares of Construction Partners in the 4th quarter worth approximately $30,000. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Construction Partners by 244.4% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,178 shares of the company’s stock valued at $66,000 after purchasing an additional 836 shares in the last quarter. YHB Investment Advisors Inc. bought a new position in Construction Partners in the first quarter worth approximately $116,000. Finally, nVerses Capital LLC purchased a new stake in Construction Partners during the second quarter worth $116,000. Institutional investors own 94.83% of the company’s stock.

Insider Buying and Selling

In other Construction Partners news, Director Mark R. Matteson sold 25,408 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $61.97, for a total transaction of $1,574,533.76. Following the sale, the director now owns 102,592 shares in the company, valued at approximately $6,357,626.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 18.80% of the stock is currently owned by company insiders.

Construction Partners Price Performance

Shares of ROAD stock opened at $72.53 on Monday. Construction Partners, Inc. has a fifty-two week low of $34.21 and a fifty-two week high of $76.73. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.30 and a current ratio of 1.60. The firm has a market capitalization of $3.83 billion, a price-to-earnings ratio of 61.99, a PEG ratio of 1.52 and a beta of 0.67. The stock’s 50-day simple moving average is $61.98 and its 200-day simple moving average is $57.43.

Construction Partners (NASDAQ:ROAD) last released its earnings results on Friday, August 9th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.05. Construction Partners had a net margin of 4.01% and a return on equity of 13.34%. The company had revenue of $517.80 million for the quarter, compared to the consensus estimate of $503.57 million. During the same quarter in the previous year, the firm earned $0.41 EPS. Construction Partners’s revenue was up 22.7% compared to the same quarter last year. As a group, equities analysts forecast that Construction Partners, Inc. will post 1.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ROAD shares. Stifel Nicolaus boosted their price target on Construction Partners from $61.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Raymond James boosted their target price on shares of Construction Partners from $69.00 to $72.00 and gave the stock a “strong-buy” rating in a report on Monday, August 12th. Finally, DA Davidson lifted their price objective on shares of Construction Partners from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Construction Partners has a consensus rating of “Moderate Buy” and an average target price of $59.67.

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.