Construction Partners, Inc. (NASDAQ:ROAD) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its position in Construction Partners, Inc. (NASDAQ:ROAD) by 3.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,069 shares of the company’s stock after selling 1,019 shares during the period. Victory Capital Management Inc.’s holdings in Construction Partners were worth $1,750,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in Construction Partners during the 1st quarter valued at $139,000. Vanguard Group Inc. raised its position in Construction Partners by 3.0% during the first quarter. Vanguard Group Inc. now owns 2,415,461 shares of the company’s stock valued at $135,628,000 after buying an additional 69,223 shares during the period. American International Group Inc. lifted its stake in Construction Partners by 5.8% in the 1st quarter. American International Group Inc. now owns 21,145 shares of the company’s stock worth $1,187,000 after acquiring an additional 1,161 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Construction Partners by 8.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 27,774 shares of the company’s stock worth $1,560,000 after acquiring an additional 2,203 shares during the period. Finally, Public Employees Retirement System of Ohio grew its stake in Construction Partners by 14,321.4% during the 1st quarter. Public Employees Retirement System of Ohio now owns 64,031 shares of the company’s stock valued at $3,595,000 after acquiring an additional 63,587 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Construction Partners Stock Performance

ROAD opened at $99.98 on Monday. 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 company has a market cap of $5.28 billion, a PE ratio of 75.74, a price-to-earnings-growth ratio of 1.21 and a beta of 0.65. The stock has a 50-day moving average of $79.08 and a 200-day moving average of $65.77. Construction Partners, Inc. has a 52-week low of $39.79 and a 52-week high of $100.70.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings results on Thursday, November 21st. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.01). Construction Partners had a return on equity of 13.15% and a net margin of 3.78%. The company had revenue of $538.16 million during the quarter, compared to analyst estimates of $538.04 million. During the same quarter in the prior year, the business earned $0.59 earnings per share. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. As a group, equities research analysts forecast that Construction Partners, Inc. will post 1.87 earnings per share for the current fiscal year.

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.