6,300 Shares in Construction Partners, Inc. $ROAD Purchased by Sheets Smith Wealth Management

Key Points

• Sheets Smith Wealth Management has purchased a new position in Construction Partners, Inc. (NASDAQ: ROAD), acquiring 6,300 shares valued at approximately $670,000.
• Construction Partners recently reported a net margin of 3.04% and earnings of $0.81 per share, which missed consensus estimates by $0.06.
• The company's stock has received a consensus rating of Buy from analysts, with a price target of $112.33.

Sheets Smith Wealth Management purchased a new position in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,300 shares of the company's stock, valued at approximately $670,000.

A number of other institutional investors also recently bought and sold shares of ROAD. Montag A & Associates Inc. bought a new position in Construction Partners in the first quarter worth about $29,000. Versant Capital Management Inc bought a new position in Construction Partners in the first quarter worth about $30,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Construction Partners in the first quarter worth about $60,000. SVB Wealth LLC bought a new position in Construction Partners in the first quarter worth about $80,000. Finally, Golden State Wealth Management LLC raised its stake in Construction Partners by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 1,126 shares of the company's stock worth $81,000 after buying an additional 563 shares in the last quarter. 94.83% of the stock is owned by institutional investors.

Construction Partners Stock Down 2.9%

NASDAQ:ROAD opened at $129.00 on Thursday. The firm has a market cap of $7.24 billion, a P/E ratio of 94.16, a P/E/G ratio of 1.70 and a beta of 0.99. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.20 and a current ratio of 1.47. Construction Partners, Inc. has a fifty-two week low of $64.79 and a fifty-two week high of $138.90. The firm has a 50-day simple moving average of $115.02 and a two-hundred day simple moving average of $99.37.

Construction Partners (NASDAQ:ROAD - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.81 earnings per share for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The firm had revenue of $779.28 million for the quarter, compared to the consensus estimate of $810.47 million. Construction Partners had a net margin of 3.04% and a return on equity of 12.24%. The firm's revenue for the quarter was up 50.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.59 earnings per share. Construction Partners has set its FY 2025 guidance at EPS. Analysts predict that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ROAD shares. Robert W. Baird set a $122.00 price objective on shares of Construction Partners and gave the stock an "outperform" rating in a research note on Friday, August 8th. Baird R W raised shares of Construction Partners from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 8th. Finally, Raymond James Financial reissued a "strong-buy" rating on shares of Construction Partners in a research note on Friday, August 8th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $112.33.

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.

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