Advantage Alpha Capital Partners LP Increases Position in Construction Partners, Inc. $ROAD

Key Points

• Advantage Alpha Capital Partners LP increased its stake in Construction Partners, Inc. by 89.6%, owning 57,863 shares after acquiring an additional 27,346 shares during the first quarter.
• Construction Partners reported earnings of $0.81 per share, missing analyst estimates of $0.87, with quarterly revenue of $779.28 million, which was below the expected $810.47 million.
• Wall Street analysts have given Construction Partners a consensus rating of "Buy" with price targets ranging up to $122.00.

Advantage Alpha Capital Partners LP grew its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 89.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 57,863 shares of the company's stock after purchasing an additional 27,346 shares during the period. Advantage Alpha Capital Partners LP owned approximately 0.10% of Construction Partners worth $4,159,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Construction Partners by 5.0% during the first quarter. Vanguard Group Inc. now owns 3,666,331 shares of the company's stock worth $263,499,000 after buying an additional 173,963 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Construction Partners by 2.6% during the 4th quarter. Bank of America Corp DE now owns 1,119,051 shares of the company's stock valued at $98,991,000 after acquiring an additional 28,723 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Construction Partners by 39.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 856,528 shares of the company's stock worth $62,724,000 after acquiring an additional 240,496 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Construction Partners by 10.9% during the 1st quarter. Ameriprise Financial Inc. now owns 792,993 shares of the company's stock worth $56,992,000 after acquiring an additional 78,042 shares in the last quarter. Finally, Artemis Investment Management LLP grew its holdings in shares of 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 acquiring an additional 482,374 shares during the period. Hedge funds and other institutional investors own 94.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ROAD. Robert W. Baird set a $122.00 price objective on Construction Partners and gave the company an "outperform" rating in a research note on Friday, August 8th. Raymond James Financial reissued a "strong-buy" rating on shares of Construction Partners in a report 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 investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $112.33.

Construction Partners Price Performance

NASDAQ:ROAD traded up $0.52 during trading hours on Monday, reaching $121.12. 420,619 shares of the company traded hands, compared to its average volume of 565,875. The firm's 50-day moving average is $106.27 and its 200-day moving average is $91.74. The stock has a market cap of $6.79 billion, a P/E ratio of 88.41, a P/E/G ratio of 1.54 and a beta of 1.00. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.47 and a quick ratio of 1.20. Construction Partners, Inc. has a 1-year low of $56.52 and a 1-year high of $122.97.

Construction Partners (NASDAQ:ROAD - Get Free Report) last released its quarterly earnings results 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). Construction Partners had a return on equity of 12.24% and a net margin of 3.04%.The company had revenue of $779.28 million during the quarter, compared to analyst estimates of $810.47 million. During the same period last year, the firm earned $0.59 earnings per share. The business's revenue was up 50.5% compared to the same quarter last year. Construction Partners has set its FY 2025 guidance at EPS. Equities research analysts expect 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.