Construction Partners, Inc. (NASDAQ:ROAD) Position Lowered by SG Americas Securities LLC

SG Americas Securities LLC decreased its stake in shares of Construction Partners, Inc. (NASDAQ:ROADGet Rating) by 15.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,433 shares of the company’s stock after selling 4,010 shares during the period. SG Americas Securities LLC’s holdings in Construction Partners were worth $561,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of ROAD. Conestoga Capital Advisors LLC raised its stake in Construction Partners by 0.9% during the first quarter. Conestoga Capital Advisors LLC now owns 5,386,003 shares of the company’s stock worth $141,006,000 after acquiring an additional 47,060 shares during the period. Geneva Capital Management LLC raised its stake in Construction Partners by 89.0% during the fourth quarter. Geneva Capital Management LLC now owns 2,288,926 shares of the company’s stock worth $67,317,000 after acquiring an additional 1,078,042 shares during the period. SunTx Capital Management Corp. raised its stake in Construction Partners by 16.4% during the fourth quarter. SunTx Capital Management Corp. now owns 814,917 shares of the company’s stock worth $23,967,000 after acquiring an additional 114,575 shares during the period. Pembroke Management LTD raised its stake in Construction Partners by 6.1% during the fourth quarter. Pembroke Management LTD now owns 549,331 shares of the company’s stock worth $16,156,000 after acquiring an additional 31,743 shares during the period. Finally, Summit Creek Advisors LLC raised its stake in Construction Partners by 16.7% during the fourth quarter. Summit Creek Advisors LLC now owns 507,514 shares of the company’s stock worth $14,926,000 after acquiring an additional 72,569 shares during the period. Institutional investors own 69.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ROAD shares. Raymond James upgraded shares of Construction Partners from an “outperform” rating to a “strong-buy” rating and dropped their price objective for the stock from $30.00 to $25.00 in a research note on Wednesday, May 11th. Robert W. Baird dropped their price target on shares of Construction Partners from $30.00 to $26.00 and set an “outperform” rating on the stock in a research note on Friday, July 8th. Finally, Sidoti started coverage on shares of Construction Partners in a research note on Wednesday, June 1st. They issued a “buy” rating on the stock. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $31.25.

Insider Activity

In related news, SVP John L. Harper acquired 30,000 shares of the firm’s stock in a transaction dated Thursday, May 12th. The stock was acquired at an average cost of $20.94 per share, for a total transaction of $628,200.00. Following the completion of the acquisition, the senior vice president now directly owns 15,000 shares of the company’s stock, valued at approximately $314,100. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 24.35% of the company’s stock.

Construction Partners Trading Up 0.8 %

Construction Partners stock opened at $23.63 on Friday. The firm has a 50 day simple moving average of $21.64 and a 200-day simple moving average of $24.19. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.93 and a quick ratio of 1.50. The stock has a market capitalization of $1.24 billion, a PE ratio of 90.89, a price-to-earnings-growth ratio of 3.85 and a beta of 0.98. Construction Partners, Inc. has a 12-month low of $18.89 and a 12-month high of $44.99.

Construction Partners (NASDAQ:ROADGet Rating) last posted its quarterly earnings data on Friday, May 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.14). The company had revenue of $243.40 million during the quarter, compared to the consensus estimate of $218.14 million. Construction Partners had a net margin of 1.25% and a return on equity of 3.30%. The company’s revenue was up 35.7% on a year-over-year basis. During the same quarter last year, the business earned ($0.04) earnings per share. As a group, equities research analysts expect that Construction Partners, Inc. will post 0.29 EPS for the current fiscal year.

Construction Partners Profile

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Construction Partners, Inc, a civil infrastructure company, engages in the construction and maintenance of roadways across Alabama, Florida, Georgia, North Carolina, and South Carolina. The company, through its subsidiaries, provides various products and services to public and private infrastructure projects, with a focus on highways, roads, bridges, airports, and commercial and residential developments.

See Also

Institutional Ownership by Quarter for Construction Partners (NASDAQ:ROAD)

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