Fmr LLC Sells 34,260 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

FMR LLC lessened its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 1.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,764,218 shares of the company's stock after selling 34,260 shares during the quarter. FMR LLC owned approximately 3.34% of Construction Partners worth $123,142,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in ROAD. GAMMA Investing LLC increased its holdings in Construction Partners by 24.4% during the 3rd quarter. GAMMA Investing LLC now owns 873 shares of the company's stock valued at $61,000 after purchasing an additional 171 shares during the period. KBC Group NV increased its stake in shares of Construction Partners by 35.0% during the third quarter. KBC Group NV now owns 1,417 shares of the company's stock valued at $99,000 after buying an additional 367 shares during the period. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Construction Partners by 55.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,831 shares of the company's stock valued at $101,000 after acquiring an additional 653 shares in the last quarter. nVerses Capital LLC purchased a new stake in Construction Partners in the second quarter worth $116,000. Finally, Public Employees Retirement Association of Colorado bought a new stake in Construction Partners in the second quarter valued at $162,000. Institutional investors own 94.83% of the company's stock.

Construction Partners Stock Down 1.8 %

Shares of NASDAQ:ROAD traded down $1.83 during trading on Thursday, reaching $99.32. 240,256 shares of the stock traded hands, compared to its average volume of 363,520. Construction Partners, Inc. has a 52-week low of $39.79 and a 52-week high of $103.69. The stock has a market cap of $5.55 billion, a P/E ratio of 75.24, a price-to-earnings-growth ratio of 1.20 and a beta of 0.70. The stock has a 50-day moving average of $83.78 and a two-hundred day moving average of $68.24. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.26 and a current ratio of 1.54.

Construction Partners (NASDAQ:ROAD - Get Free Report) last posted its earnings results on Thursday, November 21st. The company reported $0.56 EPS for the quarter, missing analysts' consensus estimates of $0.57 by ($0.01). The business had revenue of $538.16 million during the quarter, compared to the consensus estimate of $538.04 million. Construction Partners had a return on equity of 12.90% and a net margin of 3.78%. The firm's revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.59 EPS. As a group, sell-side analysts expect that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.