Quantbot Technologies LP Takes Position in Construction Partners, Inc. $ROAD

Key Points

• Quantbot Technologies LP has purchased 7,305 shares of Construction Partners, Inc. (NASDAQ: ROAD), valued at approximately $525,000, highlighting growing institutional interest in the company.
• Several analysts have upgraded Construction Partners to a "strong-buy" rating, with a consensus price target of $112.33, indicating positive market sentiment.
• Despite revenue growth of 50.5% year-over-year, Construction Partners reported a quarterly earnings miss, with earnings per share of $0.81 versus an expected $0.87.

Quantbot Technologies LP purchased a new position in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 7,305 shares of the company's stock, valued at approximately $525,000.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Construction Partners by 5.0% in the 1st quarter. Vanguard Group Inc. now owns 3,666,331 shares of the company's stock worth $263,499,000 after purchasing an additional 173,963 shares in the last quarter. Bank of America Corp DE lifted its holdings in Construction Partners by 2.6% in the 4th quarter. Bank of America Corp DE now owns 1,119,051 shares of the company's stock worth $98,991,000 after purchasing an additional 28,723 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Construction Partners by 39.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 856,528 shares of the company's stock worth $62,724,000 after purchasing an additional 240,496 shares in the last quarter. Artemis Investment Management LLP lifted its holdings in Construction Partners by 225.9% in the 1st quarter. Artemis Investment Management LLP now owns 695,949 shares of the company's stock worth $50,018,000 after purchasing an additional 482,374 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Construction Partners by 5.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 572,361 shares of the company's stock worth $50,631,000 after purchasing an additional 32,062 shares in the last quarter. 94.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Construction Partners Price Performance

NASDAQ:ROAD traded down $1.57 during trading hours on Friday, reaching $119.90. The stock had a trading volume of 320,441 shares, compared to its average volume of 641,855. 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 52 week low of $56.52 and a 52 week high of $124.12. The company has a 50 day moving average price of $108.01 and a two-hundred day moving average price of $93.12. The stock has a market capitalization of $6.73 billion, a PE ratio of 87.52, a PEG ratio of 1.54 and a beta of 0.99.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The firm had revenue of $779.28 million during the quarter, compared to the consensus estimate of $810.47 million. Construction Partners had a return on equity of 12.24% and a net margin of 3.04%.The business's revenue was up 50.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.59 EPS. Construction Partners has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

Construction Partners 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.