Zurcher Kantonalbank Zurich Cantonalbank Sells 2,607 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Zurcher Kantonalbank Zurich Cantonalbank reduced its position in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 21.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,787 shares of the company’s stock after selling 2,607 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Construction Partners were worth $426,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. NBC Securities Inc. bought a new stake in shares of Construction Partners during the 3rd quarter worth $26,000. Operose Advisors LLC acquired a new position in Construction Partners during the 3rd quarter valued at $38,000. Park Avenue Securities LLC acquired a new position in Construction Partners during the 3rd quarter valued at $203,000. Graham Capital Management L.P. acquired a new position in Construction Partners during the 3rd quarter valued at $224,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in Construction Partners during the 3rd quarter valued at $260,000. 94.83% of the stock is owned by institutional investors.

Construction Partners Trading Up 0.4 %

Shares of ROAD opened at $51.50 on Friday. The stock’s fifty day simple moving average is $52.79 and its 200-day simple moving average is $46.25. The firm has a market capitalization of $2.71 billion, a PE ratio of 47.69, a price-to-earnings-growth ratio of 1.32 and a beta of 0.68. Construction Partners, Inc. has a 12-month low of $24.20 and a 12-month high of $58.65. The company has a quick ratio of 1.39, a current ratio of 1.75 and a debt-to-equity ratio of 0.82.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings data on Friday, February 9th. The company reported $0.19 earnings per share for the quarter, topping 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 firm had revenue of $396.51 million during the quarter, compared to analysts’ expectations of $393.62 million. During the same period in the previous year, the business posted $0.04 EPS. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. As a group, research analysts predict that Construction Partners, Inc. will post 1.34 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Robert W. Baird cut shares of Construction Partners from an “outperform” rating to a “neutral” rating and upped their target price for the company from $46.00 to $50.00 in a research note on Monday, February 12th. Sidoti cut shares of Construction Partners from a “buy” rating to a “neutral” rating and set a $59.00 target price for the company. in a research note on Thursday, March 28th. Finally, Stifel Nicolaus increased their price objective on shares of Construction Partners from $51.00 to $57.00 and gave the company a “buy” rating in a research note on Monday, February 12th. Two equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $52.00.

About Construction Partners

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.