Loomis Sayles & Co. L P Sells 16,960 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Loomis Sayles & Co. L P reduced its holdings in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 2.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 747,412 shares of the company's stock after selling 16,960 shares during the quarter. Loomis Sayles & Co. L P owned about 1.42% of Construction Partners worth $52,169,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Construction Partners by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 2,415,461 shares of the company's stock worth $135,628,000 after acquiring an additional 69,223 shares during the period. Ninepoint Partners LP purchased a new stake in Construction Partners in the second quarter worth $954,000. Segall Bryant & Hamill LLC purchased a new stake in Construction Partners in the third quarter worth $10,377,000. Engle Capital Management L.P. bought a new position in Construction Partners in the second quarter worth $5,742,000. Finally, Allspring Global Investments Holdings LLC lifted its position in Construction Partners by 47.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 207,422 shares of the company's stock valued at $14,478,000 after buying an additional 67,150 shares during the period. 94.83% of the stock is owned by hedge funds and other institutional investors.

Construction Partners Stock Down 1.7 %

Shares of NASDAQ:ROAD traded down $1.76 during trading on Tuesday, reaching $99.52. 319,136 shares of the stock traded hands, compared to its average volume of 365,413. Construction Partners, Inc. has a 52-week low of $39.79 and a 52-week high of $102.57. The stock has a market cap of $5.25 billion, a P/E ratio of 75.48, a price-to-earnings-growth ratio of 1.22 and a beta of 0.65. The stock has a 50-day moving average of $79.76 and a two-hundred day moving average of $66.10. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.30 and a current ratio of 1.60.

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). Construction Partners had a return on equity of 13.15% and a net margin of 3.78%. The business had revenue of $538.16 million during the quarter, compared to the consensus estimate of $538.04 million. During the same period in the previous year, the business posted $0.59 EPS. The firm's revenue for the quarter was up 13.3% on a year-over-year basis. As a group, sell-side analysts expect that Construction Partners, Inc. will post 1.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. DA Davidson increased their price target on shares of Construction Partners from $50.00 to $55.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 13th. Raymond James lifted their target price on shares of Construction Partners from $69.00 to $72.00 and gave the company a "strong-buy" rating in a report on Monday, August 12th. Robert W. Baird upped their price target 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 lifted their price objective on Construction Partners from $61.00 to $67.00 and gave the company a "buy" rating in a research note on Monday, August 12th. Three 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 company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $69.00.

Construction Partners 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.