Longboard Asset Management LP Takes Position in Construction Partners, Inc. (NASDAQ:ROAD)

Longboard Asset Management LP acquired a new stake in Construction Partners, Inc. (NASDAQ:ROAD) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,312 shares of the company’s stock, valued at approximately $205,000.

Several other hedge funds and other institutional investors have also made changes to their positions in ROAD. AQR Capital Management LLC boosted its stake in shares of Construction Partners by 25.0% in the 2nd quarter. AQR Capital Management LLC now owns 9,574 shares of the company’s stock valued at $529,000 after buying an additional 1,912 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Construction Partners by 7.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,570 shares of the company’s stock valued at $1,301,000 after buying an additional 1,649 shares during the period. Algert Global LLC purchased a new position in shares of Construction Partners in the 2nd quarter valued at about $244,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Construction Partners in the 2nd quarter valued at about $1,601,000. Finally, SG Americas Securities LLC purchased a new position in shares of Construction Partners in the 3rd quarter valued at about $887,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ROAD. Robert W. Baird boosted their target price on Construction Partners from $68.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. DA Davidson restated a “neutral” rating and set a $95.00 target price on shares of Construction Partners in a research note on Thursday, January 30th. Finally, Raymond James decreased their target price on Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating for the company in a research note on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $83.40.

Construction Partners Price Performance

Shares of NASDAQ ROAD opened at $81.95 on Wednesday. The company has a current ratio of 1.54, a quick ratio of 1.26 and a debt-to-equity ratio of 0.85. Construction Partners, Inc. has a twelve month low of $44.77 and a twelve month high of $103.69. The stock has a 50 day moving average of $91.06 and a two-hundred day moving average of $78.55. The stock has a market cap of $4.58 billion, a P/E ratio of 62.08, a P/E/G ratio of 0.99 and a beta of 0.74.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings data on Thursday, November 21st. The company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $538.04 million. During the same quarter in the prior year, the firm posted $0.59 EPS. Construction Partners’s quarterly revenue was up 13.3% compared to the same quarter last year. On average, research analysts forecast that Construction Partners, Inc. will post 1.95 earnings per share for the current year.

Insider Buying and Selling at Construction Partners

In other news, CAO Todd Keith Andrews sold 2,511 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $95.86, for a total value of $240,704.46. Following the transaction, the chief accounting officer now owns 19,339 shares of the company’s stock, valued at approximately $1,853,836.54. The trade was a 11.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP John L. Harper sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $94.41, for a total value of $566,460.00. Following the completion of the transaction, the senior vice president now directly owns 154,856 shares in the company, valued at approximately $14,619,954.96. The trade was a 3.73 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 139,225 shares of company stock worth $13,904,358. 16.36% of the stock is owned by insiders.

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.