Engle Capital Management L.P. Raises Holdings in Construction Partners, Inc. $ROAD

Engle Capital Management L.P. grew its stake in Construction Partners, Inc. (NASDAQ:ROAD) by 10.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 205,000 shares of the company’s stock after acquiring an additional 20,000 shares during the period. Construction Partners accounts for 7.8% of Engle Capital Management L.P.’s holdings, making the stock its 4th biggest holding. Engle Capital Management L.P. owned about 0.36% of Construction Partners worth $22,780,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. Morse Asset Management Inc grew its stake in Construction Partners by 300.0% in the third quarter. Morse Asset Management Inc now owns 240 shares of the company’s stock worth $30,000 after purchasing an additional 180 shares in the last quarter. Danske Bank A S bought a new stake in Construction Partners during the 3rd quarter valued at $38,000. Harbor Investment Advisory LLC bought a new stake in Construction Partners during the 1st quarter valued at $39,000. Hollencrest Capital Management purchased a new stake in shares of Construction Partners in the 1st quarter worth $39,000. Finally, Quarry LP purchased a new stake in shares of Construction Partners in the 3rd quarter worth $42,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ROAD shares. Truist Financial started coverage on Construction Partners in a research report on Wednesday, June 3rd. They set a “hold” rating and a $130.00 price target on the stock. Raymond James Financial decreased their price objective on Construction Partners from $161.00 to $150.00 and set a “strong-buy” rating for the company in a report on Wednesday, July 15th. Zacks Research lowered shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 16th. B. Riley Financial upgraded shares of Construction Partners from a “neutral” rating to a “buy” rating and increased their target price for the stock from $117.00 to $135.00 in a report on Thursday, April 2nd. Finally, Robert W. Baird cut their target price on shares of Construction Partners from $169.00 to $145.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Construction Partners presently has an average rating of “Moderate Buy” and an average target price of $134.17.

Construction Partners Stock Up 1.7%

Shares of NASDAQ ROAD opened at $105.05 on Tuesday. Construction Partners, Inc. has a 12-month low of $93.22 and a 12-month high of $151.00. The stock’s fifty day simple moving average is $111.03 and its two-hundred day simple moving average is $117.03. The stock has a market capitalization of $5.94 billion, a PE ratio of 46.07, a price-to-earnings-growth ratio of 0.87 and a beta of 0.88. The company has a current ratio of 1.53, a quick ratio of 1.21 and a debt-to-equity ratio of 1.75.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings results on Friday, May 8th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.23. Construction Partners had a return on equity of 15.22% and a net margin of 3.90%.The firm had revenue of $769.20 million during the quarter, compared to analyst estimates of $678.46 million. During the same period in the previous year, the company posted $0.08 EPS. The business’s revenue for the quarter was up 34.6% compared to the same quarter last year. As a group, analysts expect that Construction Partners, Inc. will post 2.91 EPS for the current fiscal year.

Construction Partners Company Profile

Construction Partners, Inc (NASDAQ: ROAD) is a specialty contractor and infrastructure solutions provider focused on road building, paving, site development and aggregate production. The company delivers a comprehensive suite of civil construction services, including roadway paving and milling, site grading and preparation, stormwater and utility installation, and full-scale asphalt plant operations. By integrating materials production with contracting capabilities, the firm aims to streamline project delivery and maintain quality control across its contracting and materials businesses.

At the heart of Construction Partners’ operations are its network of asphalt plants, quarries and aggregate production facilities.