Nicolet Advisory Services LLC Takes $208,000 Position in Construction Partners, Inc. (NASDAQ:ROAD)

Nicolet Advisory Services LLC bought a new position in Construction Partners, Inc. (NASDAQ:ROAD) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,091 shares of the company’s stock, valued at approximately $208,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Clearbridge Investments LLC purchased a new position in shares of Construction Partners during the second quarter valued at about $20,360,000. Segall Bryant & Hamill LLC bought a new position in Construction Partners during the third quarter valued at approximately $10,377,000. Driehaus Capital Management LLC grew its holdings in Construction Partners by 31.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 569,440 shares of the company’s stock valued at $31,439,000 after buying an additional 137,572 shares in the last quarter. Conestoga Capital Advisors LLC grew its holdings in Construction Partners by 3.0% during the 2nd 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. Finally, Engle Capital Management L.P. bought a new stake in Construction Partners in the 2nd quarter worth approximately $5,742,000. Institutional investors own 94.83% of the company’s stock.

Analyst Upgrades and Downgrades

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

Construction Partners Stock Up 3.2 %

Shares of ROAD opened at $99.98 on Monday. The company has a quick ratio of 1.30, a current ratio of 1.60 and a debt-to-equity ratio of 0.82. The business has a fifty day moving average of $79.08 and a 200 day moving average of $65.77. The company has a market cap of $5.27 billion, a PE ratio of 75.74, a P/E/G ratio of 1.22 and a beta of 0.65. Construction Partners, Inc. has a 52-week low of $39.79 and a 52-week high of $100.70.

Construction Partners (NASDAQ:ROAD) last released its 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). The firm 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 13.15% and a net margin of 3.78%. Construction Partners’s revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.59 EPS. On average, sell-side analysts expect that Construction Partners, Inc. will post 1.91 EPS for the current year.

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.