Entropy Technologies LP Takes Position in Construction Partners, Inc. $ROAD

Entropy Technologies LP acquired a new position in Construction Partners, Inc. (NASDAQ:ROAD) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 3,200 shares of the company’s stock, valued at approximately $340,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Atria Investments Inc lifted its position in Construction Partners by 5.5% in the second quarter. Atria Investments Inc now owns 16,129 shares of the company’s stock valued at $1,714,000 after purchasing an additional 835 shares during the last quarter. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Construction Partners in the second quarter worth $542,000. Wealth Enhancement Advisory Services LLC bought a new stake in Construction Partners during the 2nd quarter valued at $344,000. GAMMA Investing LLC raised its holdings in Construction Partners by 33.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,164 shares of the company’s stock valued at $124,000 after buying an additional 293 shares during the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in Construction Partners during the 2nd quarter valued at $802,000. Institutional investors own 94.83% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on ROAD shares. Raymond James Financial restated a “strong-buy” rating and issued a $135.00 price objective (up previously from $120.00) on shares of Construction Partners in a research report on Tuesday, October 21st. Weiss Ratings restated a “hold (c)” rating on shares of Construction Partners in a report on Monday. Zacks Research cut Construction Partners from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Robert W. Baird cut their price objective on Construction Partners from $131.00 to $124.00 and set an “outperform” rating on the stock in a research report on Friday, November 21st. Finally, Bank of America decreased their target price on Construction Partners from $120.00 to $115.00 and set a “buy” rating for the company in a report on Friday, November 21st. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $123.50.

Construction Partners Stock Performance

Construction Partners stock opened at $105.80 on Wednesday. Construction Partners, Inc. has a fifty-two week low of $64.79 and a fifty-two week high of $138.90. The stock’s 50 day simple moving average is $117.92 and its two-hundred day simple moving average is $111.76. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.20 and a current ratio of 1.47. The stock has a market cap of $5.93 billion, a price-to-earnings ratio of 57.81, a PEG ratio of 0.99 and a beta of 1.02.

Construction Partners (NASDAQ:ROAD) last released its earnings results on Thursday, November 20th. The company reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.04). The firm had revenue of $899.85 million during the quarter, compared to analysts’ expectations of $896.17 million. Construction Partners had a net margin of 3.62% and a return on equity of 14.80%. The company’s revenue for the quarter was up 67.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.56 EPS. As a group, analysts expect that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal 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.