Royce & Associates LP Has $26.59 Million Stake in Construction Partners, Inc. $ROAD

Royce & Associates LP lowered its position in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 22.7% during the third quarter, HoldingsChannel.com reports. The fund owned 209,374 shares of the company’s stock after selling 61,470 shares during the quarter. Royce & Associates LP’s holdings in Construction Partners were worth $26,590,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ROAD. TD Waterhouse Canada Inc. acquired a new stake in Construction Partners in the third quarter worth $25,000. AlphaQuest LLC increased its stake in Construction Partners by 292.5% during the 3rd quarter. AlphaQuest LLC now owns 208 shares of the company’s stock valued at $26,000 after purchasing an additional 155 shares in the last quarter. MAI Capital Management acquired a new position in Construction Partners during the second quarter worth $44,000. Mather Group LLC. bought a new position in shares of Construction Partners in the third quarter valued at $47,000. Finally, First Horizon Corp acquired a new position in shares of Construction Partners during the third quarter valued at about $49,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Construction Partners in a research report on Monday, December 29th. Zacks Research upgraded Construction Partners from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 29th. Robert W. Baird set a $142.00 price objective on Construction Partners in a research note on Friday, February 6th. B. Riley Financial assumed coverage on shares of Construction Partners in a research note on Thursday, January 15th. They issued a “neutral” rating and a $117.00 target price for the company. Finally, DA Davidson increased their target price on shares of Construction Partners from $120.00 to $130.00 and gave the company a “neutral” rating in a report on Friday, February 6th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $127.80.

Construction Partners Stock Down 0.9%

ROAD stock opened at $134.37 on Monday. The stock has a fifty day moving average of $119.37 and a 200-day moving average of $117.37. Construction Partners, Inc. has a fifty-two week low of $64.79 and a fifty-two week high of $141.90. The company has a market capitalization of $7.59 billion, a price-to-earnings ratio of 61.08, a PEG ratio of 1.20 and a beta of 0.83. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.26 and a current ratio of 1.59.

Construction Partners (NASDAQ:ROAD) last posted its earnings results on Thursday, February 5th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.16. The firm had revenue of $809.47 million during the quarter, compared to the consensus estimate of $740.14 million. Construction Partners had a net margin of 3.99% and a return on equity of 15.26%. The company’s revenue was up 44.1% on a year-over-year basis. During the same quarter last year, the company earned $0.25 earnings per share. As a group, equities research analysts predict that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

About Construction Partners

Construction Partners, Inc (NASDAQ: ROAD) is a specialty contractor and infrastructure solutions provider focused on road building, paving, site development and aggregate production. The company delivers a comprehensive suite of civil construction services, including roadway paving and milling, site grading and preparation, stormwater and utility installation, and full-scale asphalt plant operations. By integrating materials production with contracting capabilities, the firm aims to streamline project delivery and maintain quality control across its contracting and materials businesses.

At the heart of Construction Partners’ operations are its network of asphalt plants, quarries and aggregate production facilities.