Rhumbline Advisers Purchases 3,853 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Rhumbline Advisers boosted its position in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 6.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,425 shares of the company’s stock after purchasing an additional 3,853 shares during the period. Rhumbline Advisers owned about 0.12% of Construction Partners worth $3,391,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Wasatch Advisors LP boosted its stake in shares of Construction Partners by 188.3% during the first quarter. Wasatch Advisors LP now owns 1,692,328 shares of the company’s stock valued at $95,024,000 after purchasing an additional 1,105,423 shares in the last quarter. TimesSquare Capital Management LLC bought a new position in shares of Construction Partners during the first quarter valued at approximately $19,832,000. Tyro Capital Management LLC bought a new position in shares of Construction Partners during the fourth quarter valued at approximately $12,410,000. Geneva Capital Management LLC boosted its stake in shares of Construction Partners by 8.5% during the first quarter. Geneva Capital Management LLC now owns 3,408,788 shares of the company’s stock valued at $191,403,000 after purchasing an additional 268,225 shares in the last quarter. Finally, Conestoga Capital Advisors LLC boosted its stake 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 valued at $228,305,000 after purchasing an additional 120,155 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Construction Partners Trading Up 6.1 %

NASDAQ ROAD opened at $71.29 on Wednesday. The company has a quick ratio of 1.30, a current ratio of 1.60 and a debt-to-equity ratio of 0.82. Construction Partners, Inc. has a 52 week low of $34.21 and a 52 week high of $71.49. The stock has a market capitalization of $3.76 billion, a PE ratio of 60.93, a price-to-earnings-growth ratio of 1.43 and a beta of 0.67. The firm has a 50 day moving average of $60.54 and a two-hundred day moving average of $56.77.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings results on Friday, August 9th. The company reported $0.59 EPS 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 during the quarter, compared to analysts’ expectations of $503.57 million. During the same quarter in the previous year, the business posted $0.41 EPS. The firm’s revenue was up 22.7% on a year-over-year basis. As a group, research analysts expect that Construction Partners, Inc. will post 1.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Mark R. Matteson sold 25,408 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $61.97, for a total transaction of $1,574,533.76. Following the completion of the sale, the director now owns 102,592 shares in the company, valued at approximately $6,357,626.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 18.80% of the stock is currently owned by company insiders.

Construction Partners 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.