Munro Partners Purchases New Position in Construction Partners, Inc. $ROAD

Munro Partners purchased a new stake in Construction Partners, Inc. (NASDAQ:ROAD) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 78,815 shares of the company’s stock, valued at approximately $8,555,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tyro Capital Management LLC lifted its position in 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 acquiring an additional 10,465 shares during the last quarter. Telligent Fund LP acquired a new position in Construction Partners in the third quarter valued at $1,016,000. American Century Companies Inc. increased its stake in Construction Partners by 5.6% in the third quarter. American Century Companies Inc. now owns 1,039,928 shares of the company’s stock valued at $132,071,000 after purchasing an additional 55,049 shares during the period. First Trust Advisors LP increased its stake in Construction Partners by 33.2% in the third quarter. First Trust Advisors LP now owns 1,059,566 shares of the company’s stock valued at $134,565,000 after purchasing an additional 264,069 shares during the period. Finally, Pinnbrook Capital Management LP acquired a new position in Construction Partners in the third quarter valued at $6,277,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

Construction Partners Trading Up 5.6%

Shares of Construction Partners stock opened at $120.28 on Tuesday. Construction Partners, Inc. has a 52-week low of $93.22 and a 52-week high of $151.00. The company has a quick ratio of 1.21, a current ratio of 1.53 and a debt-to-equity ratio of 1.75. The company’s 50-day simple moving average is $117.54 and its 200-day simple moving average is $116.85. The firm has a market cap of $6.80 billion, a price-to-earnings ratio of 52.75, a price-to-earnings-growth ratio of 0.95 and a beta of 0.88.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings results on Friday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.23. Construction Partners had a net margin of 3.90% and a return on equity of 15.22%. The business had revenue of $769.20 million for the quarter, compared to analyst estimates of $678.46 million. During the same period in the previous year, the business posted $0.08 earnings per share. The business’s revenue was up 34.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Construction Partners, Inc. will post 2.95 earnings per share for the current year.

Analysts Set New Price Targets

ROAD has been the topic of a number of recent research reports. Zacks Research lowered shares of Construction Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Weiss Ratings lowered shares of Construction Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Robert W. Baird lifted their price objective on shares of Construction Partners from $129.00 to $169.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Raymond James Financial restated a “strong-buy” rating and issued a $140.00 price objective on shares of Construction Partners in a research note on Monday, April 27th. Finally, B. Riley Financial upgraded shares of Construction Partners from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $117.00 to $135.00 in a research note on Thursday, April 2nd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Construction Partners currently has an average rating of “Moderate Buy” and a consensus price target of $136.50.

About Construction Partners

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.