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

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

Analyst Ratings Changes

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

Construction Partners Stock Down 1.6 %

ROAD stock traded down $0.93 during trading on Friday, hitting $55.71. 149,370 shares of the company’s stock were exchanged, compared to its average volume of 437,872. The company has a current ratio of 1.75, a quick ratio of 1.39 and a debt-to-equity ratio of 0.82. Construction Partners has a 52-week low of $24.20 and a 52-week high of $58.65. The business has a 50-day moving average price of $51.40 and a two-hundred day moving average price of $44.94. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of 51.58, a PEG ratio of 1.44 and a beta of 0.65.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings data on Friday, February 9th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $393.62 million. During the same quarter in the previous year, the business earned $0.04 earnings per share. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. As a group, equities research analysts expect that Construction Partners will post 1.35 EPS for the current year.

Institutional Investors Weigh In On Construction Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Moody Aldrich Partners LLC purchased a new stake in Construction Partners in the fourth quarter valued at approximately $4,282,000. Assenagon Asset Management S.A. purchased a new stake in shares of Construction Partners during the fourth quarter worth approximately $769,000. R.P. Boggs & Co. raised its stake in shares of Construction Partners by 2.6% during the third quarter. R.P. Boggs & Co. now owns 433,044 shares of the company’s stock worth $15,832,000 after purchasing an additional 11,142 shares during the last quarter. New York State Common Retirement Fund raised its stake in shares of Construction Partners by 1,050.7% during the third quarter. New York State Common Retirement Fund now owns 190,160 shares of the company’s stock worth $6,952,000 after purchasing an additional 173,635 shares during the last quarter. Finally, Dark Forest Capital Management LP purchased a new stake in shares of Construction Partners during the third quarter worth approximately $648,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

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.