Intech Investment Management LLC Takes $778,000 Position in Construction Partners, Inc. (NASDAQ:ROAD)

Intech Investment Management LLC purchased a new position in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 11,139 shares of the company's stock, valued at approximately $778,000.

A number of other large investors have also bought and sold shares of the business. Vanguard Group Inc. boosted its position in Construction Partners by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 2,415,461 shares of the company's stock valued at $135,628,000 after buying an additional 69,223 shares during the last quarter. Ninepoint Partners LP acquired a new position in shares of Construction Partners in the 2nd quarter valued at $954,000. Segall Bryant & Hamill LLC acquired a new position in shares of Construction Partners in the 3rd quarter valued at $10,377,000. Engle Capital Management L.P. acquired a new position in shares of Construction Partners in the 2nd quarter valued at $5,742,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Construction Partners by 47.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 207,422 shares of the company's stock valued at $14,478,000 after purchasing an additional 67,150 shares during the period. 94.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Construction Partners Stock Up 0.5 %

Shares of ROAD traded up $0.47 during midday trading on Friday, hitting $101.61. The stock had a trading volume of 183,253 shares, compared to its average volume of 364,598. The company has a 50 day simple moving average of $82.00 and a two-hundred day simple moving average of $67.22. Construction Partners, Inc. has a twelve month low of $39.79 and a twelve month high of $103.24. The firm has a market cap of $5.68 billion, a price-to-earnings ratio of 76.98, a price-to-earnings-growth ratio of 1.21 and a beta of 0.65. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.54 and a quick ratio of 1.30.

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