Teacher Retirement System of Texas Acquires New Holdings in Construction Partners, Inc. (NASDAQ:ROAD)

Teacher Retirement System of Texas bought a new position in shares of Construction Partners, Inc. (NASDAQ:ROAD) in the fourth quarter, HoldingsChannel.com reports. The firm bought 13,391 shares of the company’s stock, valued at approximately $583,000.

Several other hedge funds and other institutional investors have also bought and sold shares of ROAD. NBC Securities Inc. bought a new position in shares of Construction Partners in the 3rd quarter worth $26,000. Operose Advisors LLC bought a new stake in Construction Partners during the third quarter valued at about $38,000. Federated Hermes Inc. purchased a new position in Construction Partners in the fourth quarter valued at about $150,000. Cornerstone Investment Partners LLC bought a new position in Construction Partners in the fourth quarter worth about $209,000. Finally, Graham Capital Management L.P. purchased a new stake in shares of Construction Partners during the third quarter valued at about $224,000. Institutional investors own 94.83% of the company’s stock.

Construction Partners Stock Performance

Shares of Construction Partners stock opened at $61.44 on Friday. The company has a 50 day moving average price of $54.61 and a 200 day moving average price of $48.09. The firm has a market capitalization of $3.24 billion, a P/E ratio of 52.51, a PEG ratio of 1.38 and a beta of 0.68. The company has a quick ratio of 1.28, a current ratio of 1.64 and a debt-to-equity ratio of 0.81. Construction Partners, Inc. has a 52 week low of $27.33 and a 52 week high of $61.45.

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

Wall Street Analysts Forecast Growth

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

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.