Construction Partners, Inc. $ROAD Holdings Increased by CI Investments Inc.

CI Investments Inc. raised its position in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 6.1% in the first quarter, HoldingsChannel.com reports. The firm owned 152,778 shares of the company’s stock after buying an additional 8,845 shares during the period. CI Investments Inc.’s holdings in Construction Partners were worth $16,977,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Morse Asset Management Inc lifted its holdings in Construction Partners by 300.0% in the 3rd quarter. Morse Asset Management Inc now owns 240 shares of the company’s stock valued at $30,000 after acquiring an additional 180 shares during the last quarter. Danske Bank A S acquired a new position in shares of Construction Partners in the 3rd quarter worth approximately $38,000. Harbor Investment Advisory LLC bought a new stake in shares of Construction Partners in the 1st quarter worth approximately $39,000. Hollencrest Capital Management bought a new stake in shares of Construction Partners in the 1st quarter worth approximately $39,000. Finally, Quarry LP acquired a new stake in Construction Partners during the third quarter valued at approximately $42,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Construction Partners Trading Up 1.0%

NASDAQ:ROAD opened at $104.24 on Thursday. The company has a market capitalization of $5.89 billion, a P/E ratio of 45.72, a P/E/G ratio of 0.87 and a beta of 0.88. The stock’s 50 day moving average price is $111.94 and its 200 day moving average price is $117.24. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.21 and a current ratio of 1.53. Construction Partners, Inc. has a 52 week low of $93.22 and a 52 week high of $151.00.

Construction Partners (NASDAQ:ROAD) last posted its earnings results on Friday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.23. The firm had revenue of $769.20 million during the quarter, compared to analysts’ expectations of $678.46 million. Construction Partners had a net margin of 3.90% and a return on equity of 15.22%. The company’s revenue was up 34.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.08 earnings per share. On average, research analysts forecast that Construction Partners, Inc. will post 2.91 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ROAD. Truist Financial started coverage on Construction Partners in a report on Wednesday, June 3rd. They issued a “hold” rating and a $130.00 target price on the stock. Robert W. Baird reduced their target price on Construction Partners from $169.00 to $145.00 and set an “outperform” rating for the company in a report on Wednesday, July 1st. B. Riley Financial upgraded Construction Partners from a “neutral” rating to a “buy” rating and increased their price target for the company from $117.00 to $135.00 in a research report on Thursday, April 2nd. Raymond James Financial cut their price objective on Construction Partners from $161.00 to $150.00 and set a “strong-buy” rating on the stock in a report on Wednesday, July 15th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $134.17.

Construction Partners Profile

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.