Opal Capital LLC Takes Position in Construction Partners, Inc. $ROAD

Opal Capital LLC purchased a new stake in Construction Partners, Inc. (NASDAQ:ROAD) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 18,879 shares of the company’s stock, valued at approximately $2,049,000.

Other hedge funds have also made changes to their positions in the company. Tyro Capital Management LLC grew its stake in shares of Construction Partners by 6.8% in the 3rd quarter. Tyro Capital Management LLC now owns 164,488 shares of the company’s stock valued at $20,890,000 after buying an additional 10,465 shares during the period. American Century Companies Inc. grew its stake in shares of Construction Partners by 5.6% in the 3rd quarter. American Century Companies Inc. now owns 1,039,928 shares of the company’s stock valued at $132,071,000 after buying an additional 55,049 shares during the period. Telligent Fund LP purchased a new stake in shares of Construction Partners in the 3rd quarter valued at approximately $1,016,000. First Trust Advisors LP grew its stake in shares of Construction Partners by 33.2% in the 3rd quarter. First Trust Advisors LP now owns 1,059,566 shares of the company’s stock valued at $134,565,000 after buying an additional 264,069 shares during the period. Finally, Pinnbrook Capital Management LP purchased a new stake in shares of Construction Partners in the 3rd quarter valued at approximately $6,277,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Construction Partners Stock Performance

NASDAQ:ROAD opened at $122.01 on Wednesday. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.21 and a current ratio of 1.53. The stock has a market capitalization of $6.90 billion, a P/E ratio of 53.51, a PEG ratio of 1.00 and a beta of 0.88. The company has a 50 day moving average price of $117.86 and a 200 day moving average price of $116.94. Construction Partners, Inc. has a fifty-two week low of $93.22 and a fifty-two week high of $151.00.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings data on Friday, May 8th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.23. The firm had revenue of $769.20 million during the quarter, compared to analysts’ expectations of $678.46 million. Construction Partners had a net margin of 3.90% and a return on equity of 15.22%. The firm’s quarterly revenue was up 34.6% on a year-over-year basis. During the same quarter last year, the company posted $0.08 EPS. Equities research analysts forecast that Construction Partners, Inc. will post 2.95 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on ROAD. Robert W. Baird increased their price target on shares of Construction Partners from $129.00 to $169.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Zacks Research cut shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $140.00 price objective on shares of Construction Partners in a research report on Monday, April 27th. B. Riley Financial raised shares of Construction Partners from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $117.00 to $135.00 in a research report on Thursday, April 2nd. Finally, Weiss Ratings cut shares of Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.50.

Construction Partners Profile

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.