Construction Partners, Inc. (NASDAQ:ROAD) Short Interest Up 50.7% in March

Construction Partners, Inc. (NASDAQ:ROAD) saw a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 2,200,000 shares, a growth of 50.7% from the March 15th total of 1,460,000 shares. Based on an average trading volume of 355,500 shares, the days-to-cover ratio is currently 6.2 days.

Institutional Investors Weigh In On Construction Partners

Institutional investors and hedge funds have recently modified their holdings of the stock. KBC Group NV acquired a new stake in shares of Construction Partners during the fourth quarter worth $28,000. ICA Group Wealth Management LLC acquired a new stake in shares of Construction Partners during the fourth quarter worth $30,000. 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 position in Construction Partners during the third quarter valued at $38,000. Finally, Public Employees Retirement System of Ohio raised its position in Construction Partners by 40.4% during the third quarter. Public Employees Retirement System of Ohio now owns 1,102 shares of the company’s stock valued at $29,000 after buying an additional 317 shares during the period. 94.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ROAD shares. Sidoti lowered Construction Partners from a “buy” rating to a “neutral” rating and set a $59.00 price target for the company. in a research report on Thursday, March 28th. Stifel Nicolaus upped their price objective on Construction Partners from $51.00 to $57.00 and gave the company a “buy” rating in a report on Monday, February 12th. Finally, Robert W. Baird lowered Construction Partners from an “outperform” rating to a “neutral” rating and upped their price objective for the company from $46.00 to $50.00 in a report 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $52.00.

Construction Partners Price Performance

Shares of Construction Partners stock traded down $0.93 during trading on Friday, hitting $55.71. The stock had a trading volume of 149,370 shares, compared to its average volume of 437,872. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.75 and a quick ratio of 1.39. The firm has a market cap of $2.94 billion, a P/E ratio of 51.58, a PEG ratio of 1.44 and a beta of 0.65. The business has a fifty day moving average of $51.40 and a two-hundred day moving average of $44.94. Construction Partners has a fifty-two week low of $24.20 and a fifty-two week high of $58.65.

Construction Partners (NASDAQ:ROAD) last announced its earnings results on Friday, February 9th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.06. The company had revenue of $396.51 million for the quarter, compared to analyst estimates of $393.62 million. Construction Partners had a return on equity of 11.56% and a net margin of 3.52%. Construction Partners’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.04 earnings per share. On average, sell-side analysts expect that Construction Partners will post 1.35 earnings per share for the current fiscal year.

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.