Construction Partners, Inc. $ROAD Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC reduced its position in Construction Partners, Inc. (NASDAQ:ROAD) by 57.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,839 shares of the company’s stock after selling 6,499 shares during the period. SG Americas Securities LLC’s holdings in Construction Partners were worth $538,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Tyro Capital Management LLC grew its position in shares of Construction Partners by 6.8% in the third quarter. Tyro Capital Management LLC now owns 164,488 shares of the company’s stock valued at $20,890,000 after purchasing an additional 10,465 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Construction Partners during the 4th quarter worth approximately $42,518,000. Pinnbrook Capital Management LP acquired a new position in shares of Construction Partners during the 3rd quarter worth approximately $6,277,000. Artemis Investment Management LLP lifted its stake in Construction Partners by 7.8% in the 4th quarter. Artemis Investment Management LLP now owns 708,617 shares of the company’s stock valued at $76,920,000 after buying an additional 51,052 shares in the last quarter. Finally, Comerica Bank grew its holdings in Construction Partners by 30.1% during the 4th quarter. Comerica Bank now owns 255,975 shares of the company’s stock valued at $27,786,000 after buying an additional 59,244 shares during the last quarter. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ROAD. B. Riley Financial raised Construction Partners from a “neutral” rating to a “buy” rating and raised their price target for the stock from $117.00 to $135.00 in a research report on Thursday, April 2nd. Truist Financial began coverage on Construction Partners in a research report on Wednesday, June 3rd. They set a “hold” rating and a $130.00 price objective for the company. Zacks Research lowered shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $140.00 price target on shares of Construction Partners in a research note on Monday, April 27th. Finally, Weiss Ratings downgraded shares of Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $132.50.

Construction Partners Price Performance

ROAD stock opened at $103.71 on Wednesday. The stock has a market capitalization of $5.86 billion, a price-to-earnings ratio of 45.49, a price-to-earnings-growth ratio of 0.90 and a beta of 0.88. The company has a quick ratio of 1.21, a current ratio of 1.53 and a debt-to-equity ratio of 1.75. Construction Partners, Inc. has a 52-week low of $93.22 and a 52-week high of $151.00. The stock’s fifty day simple moving average is $117.95 and its 200-day simple moving average is $118.04.

Construction Partners (NASDAQ:ROAD) last released its earnings results on Friday, May 8th. The company reported $0.18 EPS for the quarter, beating 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 prior year, the firm posted $0.08 earnings per share. The business’s quarterly revenue was up 34.6% compared to the same quarter last year. Equities research analysts expect that Construction Partners, Inc. will post 2.95 EPS for the current 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.