Arizona State Retirement System Raises Position in Construction Partners, Inc. (NASDAQ:ROAD)

Arizona State Retirement System lifted its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 3.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,225 shares of the company’s stock after purchasing an additional 439 shares during the period. Arizona State Retirement System’s holdings in Construction Partners were worth $532,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Assenagon Asset Management S.A. purchased a new stake in shares of Construction Partners during the 4th quarter worth approximately $769,000. Raymond James Financial Services Advisors Inc. grew its stake in Construction Partners by 44.5% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 48,518 shares of the company’s stock valued at $2,112,000 after buying an additional 14,936 shares in the last quarter. Legato Capital Management LLC grew its stake in Construction Partners by 14.6% in the 4th quarter. Legato Capital Management LLC now owns 11,935 shares of the company’s stock valued at $519,000 after buying an additional 1,525 shares in the last quarter. Vanguard Group Inc. grew its stake in Construction Partners by 8.6% in the 3rd quarter. Vanguard Group Inc. now owns 2,290,486 shares of the company’s stock valued at $83,740,000 after buying an additional 181,017 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Construction Partners by 15.0% in the 3rd quarter. American Century Companies Inc. now owns 1,316,081 shares of the company’s stock valued at $48,116,000 after buying an additional 172,109 shares in the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Construction Partners Stock Performance

NASDAQ ROAD opened at $50.03 on Friday. Construction Partners, Inc. has a 52-week low of $24.20 and a 52-week high of $58.65. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.39 and a current ratio of 1.75. The company has a market capitalization of $2.64 billion, a P/E ratio of 46.32, a P/E/G ratio of 1.37 and a beta of 0.65. The company has a fifty day moving average of $51.82 and a 200-day moving average of $45.39.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings data on Friday, February 9th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.06. Construction Partners had a net margin of 3.52% and a return on equity of 11.56%. The company had revenue of $396.51 million during the quarter, compared to the consensus estimate of $393.62 million. During the same period in the previous year, the firm posted $0.04 EPS. The firm’s revenue was up 16.0% compared to the same quarter last year. As a group, equities research analysts predict that Construction Partners, Inc. will post 1.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ROAD has been the subject of a number of recent research reports. Robert W. Baird lowered shares of Construction Partners from an “outperform” rating to a “neutral” rating and lifted their price objective for the company from $46.00 to $50.00 in a research note on Monday, February 12th. Stifel Nicolaus lifted their price objective on shares of Construction Partners from $51.00 to $57.00 and gave the company a “buy” rating in a research note on Monday, February 12th. Finally, Sidoti downgraded shares of Construction Partners from a “buy” rating to a “neutral” rating and set a $59.00 price target for the company. in a 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 issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $52.00.

Construction Partners Company 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.