Wasatch Advisors LP Sells 1,253,387 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Wasatch Advisors LP trimmed its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 68.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 586,905 shares of the company’s stock after selling 1,253,387 shares during the quarter. Wasatch Advisors LP’s holdings in Construction Partners were worth $25,542,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Moody Aldrich Partners LLC acquired a new position in Construction Partners in the 4th quarter valued at about $4,282,000. Dimensional Fund Advisors LP boosted its holdings in shares of Construction Partners by 13.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 893,748 shares of the company’s stock worth $38,897,000 after acquiring an additional 105,346 shares during the period. Trexquant Investment LP lifted its holdings in Construction Partners by 55.0% during the 4th quarter. Trexquant Investment LP now owns 76,977 shares of the company’s stock worth $3,350,000 after purchasing an additional 27,302 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Construction Partners in the 4th quarter valued at $769,000. Finally, Tyro Capital Management LLC bought a new position in Construction Partners during the 4th quarter worth $12,410,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on ROAD. Sidoti cut Construction Partners from a “buy” rating to a “neutral” rating and set a $59.00 price target for the company. in a research note on Thursday, March 28th. Stifel Nicolaus increased their target price on shares of Construction Partners from $51.00 to $57.00 and gave the stock a “buy” rating in a report on Monday, February 12th. Finally, Robert W. Baird increased their price objective on shares of Construction Partners from $50.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. Two analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Construction Partners has an average rating of “Moderate Buy” and an average target price of $54.00.

Construction Partners Trading Down 0.6 %

Shares of NASDAQ:ROAD traded down $0.34 during trading on Tuesday, reaching $54.33. The stock had a trading volume of 7,808 shares, compared to its average volume of 362,454. Construction Partners, Inc. has a 52 week low of $27.96 and a 52 week high of $62.35. The firm’s fifty day moving average is $55.23 and its 200 day moving average is $49.27. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of 46.73, a P/E/G ratio of 1.26 and a beta of 0.71. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.28 and a current ratio of 1.64.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings data on Friday, May 10th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.05. The company had revenue of $371.43 million during the quarter, compared to analyst estimates of $363.12 million. Construction Partners had a net margin of 3.68% and a return on equity of 12.00%. Construction Partners’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.11) EPS. As a group, equities analysts forecast that Construction Partners, Inc. will post 1.41 EPS for the current fiscal year.

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.