Lisanti Capital Growth LLC Buys 35,955 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Lisanti Capital Growth LLC boosted its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 54.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 102,050 shares of the company's stock after purchasing an additional 35,955 shares during the period. Construction Partners makes up about 1.8% of Lisanti Capital Growth LLC's portfolio, making the stock its 8th biggest position. Lisanti Capital Growth LLC owned approximately 0.19% of Construction Partners worth $7,123,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Clearbridge Investments LLC purchased a new position in Construction Partners during the second quarter valued at $20,360,000. Driehaus Capital Management LLC lifted its holdings in shares of Construction Partners by 31.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 569,440 shares of the company's stock worth $31,439,000 after acquiring an additional 137,572 shares during the last quarter. Conestoga Capital Advisors LLC grew its stake in shares of Construction Partners by 3.0% in the second quarter. Conestoga Capital Advisors LLC now owns 4,135,202 shares of the company's stock valued at $228,305,000 after buying an additional 120,155 shares in the last quarter. Engle Capital Management L.P. purchased a new position in shares of Construction Partners in the second quarter valued at approximately $5,742,000. Finally, American Century Companies Inc. lifted its holdings in Construction Partners by 8.0% during the 2nd quarter. American Century Companies Inc. now owns 949,123 shares of the company's stock worth $52,401,000 after buying an additional 70,099 shares in the last quarter. 94.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ROAD shares. Stifel Nicolaus boosted their price objective on Construction Partners from $61.00 to $67.00 and gave the stock a "buy" rating in a research report on Monday, August 12th. Raymond James boosted their target price on shares of Construction Partners from $69.00 to $72.00 and gave the stock a "strong-buy" rating in a research note on Monday, August 12th. DA Davidson increased their target price on Construction Partners from $50.00 to $55.00 and gave the company a "neutral" rating in a report on Tuesday, August 13th. Finally, Robert W. Baird upped their price objective on Construction Partners from $68.00 to $92.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 22nd. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Construction Partners has a consensus rating of "Moderate Buy" and an average target price of $69.00.

Insider Activity

In related news, Director Mark R. Matteson sold 25,408 shares of the firm's stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $61.97, for a total transaction of $1,574,533.76. Following the transaction, the director now owns 102,592 shares of the company's stock, valued at $6,357,626.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 18.80% of the company's stock.

Construction Partners Stock Performance

Shares of Construction Partners stock traded up $1.08 on Monday, hitting $95.54. The stock had a trading volume of 345,164 shares, compared to its average volume of 359,613. The stock has a market cap of $5.04 billion, a price-to-earnings ratio of 69.97, a P/E/G ratio of 1.18 and a beta of 0.65. The company has a current ratio of 1.60, a quick ratio of 1.30 and a debt-to-equity ratio of 0.82. Construction Partners, Inc. has a 52-week low of $39.01 and a 52-week high of $96.46. The company's 50 day moving average price is $72.59 and its 200 day moving average price is $62.88.

Construction Partners (NASDAQ:ROAD - Get Free Report) last announced its earnings results on Friday, August 9th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.54 by $0.05. Construction Partners had a net margin of 4.01% and a return on equity of 13.34%. The business had revenue of $517.80 million for the quarter, compared to analyst estimates of $503.57 million. During the same period last year, the firm posted $0.41 earnings per share. The company's revenue for the quarter was up 22.7% compared to the same quarter last year. On average, research analysts anticipate that Construction Partners, Inc. will post 1.33 EPS for the current year.

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.