Bosun Asset Management LLC Takes Position in Construction Partners, Inc. $ROAD

Bosun Asset Management LLC bought a new stake in Construction Partners, Inc. (NASDAQ:ROAD) in the second quarter, Holdings Channel reports. The institutional investor bought 6,206 shares of the company’s stock, valued at approximately $659,000.

Other institutional investors have also recently bought and sold shares of the company. Handelsbanken Fonder AB increased its stake in Construction Partners by 0.8% in the second quarter. Handelsbanken Fonder AB now owns 12,000 shares of the company’s stock valued at $1,275,000 after acquiring an additional 100 shares during the period. Ameritas Investment Partners Inc. raised its holdings in shares of Construction Partners by 2.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,794 shares of the company’s stock worth $510,000 after buying an additional 118 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Construction Partners by 29.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 743 shares of the company’s stock worth $79,000 after buying an additional 170 shares during the period. Summit Investment Advisors Inc. boosted its stake in Construction Partners by 4.1% in the 1st quarter. Summit Investment Advisors Inc. now owns 4,676 shares of the company’s stock valued at $336,000 after buying an additional 184 shares in the last quarter. Finally, Montag A & Associates Inc. boosted its stake in Construction Partners by 46.5% in the 2nd quarter. Montag A & Associates Inc. now owns 586 shares of the company’s stock valued at $62,000 after buying an additional 186 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.

Construction Partners Stock Performance

Construction Partners stock opened at $103.04 on Friday. The company’s 50-day moving average is $114.07 and its two-hundred day moving average is $111.99. Construction Partners, Inc. has a 1 year low of $64.79 and a 1 year high of $138.90. The company has a market cap of $5.82 billion, a PE ratio of 56.31, a PEG ratio of 0.98 and a beta of 0.88. The company has a current ratio of 1.61, a quick ratio of 1.34 and a debt-to-equity ratio of 1.73.

Construction Partners (NASDAQ:ROAD) last released its earnings results on Thursday, November 20th. The company reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.04). The business had revenue of $899.85 million for the quarter, compared to analyst estimates of $896.17 million. Construction Partners had a return on equity of 14.42% and a net margin of 3.62%.Construction Partners’s revenue was up 67.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.56 EPS. Equities analysts anticipate that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ROAD has been the subject of a number of analyst reports. Raymond James Financial reissued a “strong-buy” rating and set a $135.00 price objective (up from $120.00) on shares of Construction Partners in a report on Tuesday, October 21st. Robert W. Baird cut their price target on shares of Construction Partners from $131.00 to $124.00 and set an “outperform” rating for the company in a report on Friday, November 21st. Zacks Research cut shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. DA Davidson reaffirmed a “neutral” rating and set a $120.00 price objective on shares of Construction Partners in a report on Friday, November 21st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Construction Partners in a research note on Monday, November 24th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $123.50.

About Construction Partners

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.