Construction Partners, Inc. (NASDAQ:ROAD) Shares Sold by Jennison Associates LLC

Jennison Associates LLC decreased its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 17.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 526,748 shares of the company’s stock after selling 108,106 shares during the quarter. Jennison Associates LLC owned about 1.00% of Construction Partners worth $22,924,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. NBC Securities Inc. acquired a new stake in shares of Construction Partners during the third quarter worth $26,000. Operose Advisors LLC acquired a new stake in shares of Construction Partners during the third quarter worth $38,000. Federated Hermes Inc. acquired a new stake in shares of Construction Partners during the fourth quarter worth $150,000. Park Avenue Securities LLC acquired a new stake in shares of Construction Partners during the third quarter worth $203,000. Finally, Cornerstone Investment Partners LLC acquired a new stake in shares of Construction Partners during the fourth quarter worth $209,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

Construction Partners Trading Up 0.8 %

NASDAQ:ROAD opened at $51.38 on Friday. The business’s 50-day moving average is $52.07 and its two-hundred day moving average is $45.70. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.75 and a quick ratio of 1.39. Construction Partners, Inc. has a 12 month low of $24.20 and a 12 month high of $58.65. The firm has a market capitalization of $2.71 billion, a PE ratio of 47.57, a price-to-earnings-growth ratio of 1.32 and a beta of 0.65.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings data on Friday, February 9th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.13 by $0.06. Construction Partners had a return on equity of 11.56% and a net margin of 3.52%. The company had revenue of $396.51 million for the quarter, compared to analyst estimates of $393.62 million. During the same period last year, the company posted $0.04 earnings per share. The firm’s revenue was up 16.0% compared to the same quarter last year. Research analysts predict that Construction Partners, Inc. will post 1.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ROAD has been the topic of several research reports. Stifel Nicolaus increased their target price on Construction Partners from $51.00 to $57.00 and gave the stock a “buy” rating in a research report on Monday, February 12th. Robert W. Baird lowered Construction Partners from an “outperform” rating to a “neutral” rating and increased their target price for the stock from $46.00 to $50.00 in a research report on Monday, February 12th. Finally, Sidoti lowered Construction Partners from a “buy” rating to a “neutral” rating and set a $59.00 target price on the stock. in a research report on Thursday, March 28th. Two equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Construction Partners currently has an average rating of “Moderate Buy” and an average price target of $52.00.

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.