13,730 Construction Partners, Inc. $ROAD Shares Bought by Kornitzer Capital Management Inc. KS

Key Points

• Kornitzer Capital Management increased its Construction Partners stake by 29.8% in the third quarter, buying 13,730 shares and bringing its holdings to 59,756 shares, valued at about $5.38 million. Institutional investors collectively own 94.83% of the company.
• Construction Partners reported quarterly revenue of $999.4 million and earnings of $1.08 per share, both above analyst expectations; revenue rose 28.2% year over year. Its fiscal 2027 revenue outlook of $4.2 billion to $4.3 billion also topped consensus.
• Analyst views are mixed: Truist cut its price target from $130 to $90 and kept a Hold rating, while the consensus rating remains Moderate Buy with a $122.67 target.

Kornitzer Capital Management Inc. KS grew its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 29.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,756 shares of the company's stock after purchasing an additional 13,730 shares during the period. Kornitzer Capital Management Inc. KS owned approximately 0.11% of Construction Partners worth $5,380,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its stake in Construction Partners by 3.2% during the first quarter. Bank of New York Mellon Corp now owns 579,757 shares of the company's stock valued at $64,423,000 after purchasing an additional 17,851 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in Construction Partners by 95.2% during the third quarter. State of Alaska Department of Revenue now owns 16,137 shares of the company's stock worth $1,452,000 after buying an additional 7,872 shares in the last quarter. Wasatch Advisors LP boosted its holdings in Construction Partners by 20.6% during the second quarter. Wasatch Advisors LP now owns 1,008,474 shares of the company's stock worth $119,776,000 after buying an additional 172,034 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Construction Partners by 11.1% during the first quarter. Dimensional Fund Advisors LP now owns 587,477 shares of the company's stock worth $65,271,000 after buying an additional 58,908 shares in the last quarter. Finally, PVG Asset Management Corp grew its position in Construction Partners by 510.4% in the first quarter. PVG Asset Management Corp now owns 14,614 shares of the company's stock worth $1,758,000 after buying an additional 12,220 shares during the last quarter. Institutional investors and hedge funds own 94.83% of the company's stock.

Key Stories Impacting Construction Partners

Here are the key news stories impacting Construction Partners this week:

• Positive Sentiment: ROAD forecast fiscal 2027 revenue of $4.2 billion to $4.3 billion, above the $4.1 billion analyst consensus. The outlook points to stronger expected growth than analysts had modeled. Fiscal 2026 results and fiscal 2027 outlook
• Positive Sentiment: The company acquired Piedmont Paving, expanding its Georgia operations along the growing Interstate 85 corridor and adding to its regional footprint. Georgia acquisition announcement
• Neutral Sentiment: Fiscal 2026 revenue guidance of $3.7 billion was in line with consensus, offering little surprise relative to expectations. Fiscal 2026 revenue guidance
• Neutral Sentiment: ROAD announced it will participate in the Baird 2026 Global Industrial Conference; no financial updates were included in the announcement. Conference participation announcement
• Negative Sentiment: Truist Financial cut its price target from $130 to $90 and maintained a “hold” rating. Although the new target remains above the referenced share price, the sizable reduction may signal weaker analyst expectations and pressure sentiment. Truist price-target update

Construction Partners Price Performance

ROAD stock opened at $77.18 on Monday. Construction Partners, Inc. has a one year low of $74.51 and a one year high of $151.00. The firm has a 50-day moving average of $91.75 and a two-hundred day moving average of $110.34. The firm has a market capitalization of $4.38 billion, a PE ratio of 30.27, a P/E/G ratio of 0.58 and a beta of 0.94. The company has a current ratio of 1.57, a quick ratio of 1.26 and a debt-to-equity ratio of 1.68.

Construction Partners (NASDAQ:ROAD - Get Free Report) last released its earnings results on Friday, August 7th. The company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.07. Construction Partners had a net margin of 4.10% and a return on equity of 16.06%. The business had revenue of $999.42 million for the quarter, compared to the consensus estimate of $948.77 million. During the same period last year, the firm posted $0.81 earnings per share. The firm's quarterly revenue was up 28.2% compared to the same quarter last year. On average, analysts forecast that Construction Partners, Inc. will post 2.93 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Robert W. Baird dropped their price target on Construction Partners from $145.00 to $141.00 and set an "outperform" rating on the stock in a report on Monday, August 10th. Raymond James Financial reiterated a "strong-buy" rating and set a $125.00 price objective on shares of Construction Partners in a research report on Friday. Weiss Ratings lowered Construction Partners from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, September 17th. Zacks Research cut Construction Partners from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 16th. Finally, Truist Financial decreased their target price on Construction Partners from $130.00 to $90.00 and set a "hold" rating on the stock in a report on Friday. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $122.67.

About Construction Partners

Construction Partners, Inc is a civil infrastructure company that builds and maintains roads, highways, and other transportation-related projects. Its services include roadway paving, site development, milling and resurfacing, and related construction work for public and private customers.

The company also produces and supplies materials used in its projects, including hot-mix asphalt and aggregates. Its vertically integrated operations combine construction services with materials production and distribution.

Founded in 2007 and headquartered in Dothan, Alabama, Construction Partners operates across the southeastern United States and in Texas.

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